This document discusses rewarding and evaluating employee performance. It describes different types of rewards including intrinsic rewards that provide personal satisfaction and extrinsic rewards like pay. A complete reward program includes base pay determined by job analysis, performance rewards to improve work, and profit sharing to encourage teamwork. Performance appraisal is the process of evaluating employees' performance, sharing feedback, and finding ways to improve. Management by Objectives involves managers and employees jointly setting goals and periodically reviewing progress towards objectives. An effective appraisal philosophy focuses on goals, involves mutual goal setting between supervisors and employees, clarifies behavioral expectations, and provides extensive feedback.
This document discusses rewarding and evaluating employee performance. It describes different types of rewards including intrinsic rewards that provide personal satisfaction and extrinsic rewards like pay. A complete reward program includes base pay determined by job analysis, performance rewards to improve work, and profit sharing to encourage teamwork. Performance appraisal is the process of evaluating employees' performance, sharing feedback, and finding ways to improve. Management by Objectives involves managers and employees jointly setting goals and periodically reviewing progress towards objectives. An effective appraisal philosophy focuses on goals, involves mutual goal setting between supervisors and employees, clarifies behavioral expectations, and provides extensive feedback.
This document discusses rewarding and evaluating employee performance. It describes different types of rewards including intrinsic rewards that provide personal satisfaction and extrinsic rewards like pay. A complete reward program includes base pay determined by job analysis, performance rewards to improve work, and profit sharing to encourage teamwork. Performance appraisal is the process of evaluating employees' performance, sharing feedback, and finding ways to improve. Management by Objectives involves managers and employees jointly setting goals and periodically reviewing progress towards objectives. An effective appraisal philosophy focuses on goals, involves mutual goal setting between supervisors and employees, clarifies behavioral expectations, and provides extensive feedback.
PERFORMANCE REWARD - something that is given in return of ones service, effort, or achievement. Types of Rewards Extrinsic Rewards - concrete rewards that employee receive. Intrinsic Rewards - tend to give personal satisfaction to individual. A COMPLETE REWARD PROGRAM BASE PAY - Job analysis and wage surveys rate jobs, comparing one job with another to determine base pay. PERFORMANCE REWARDS - Is an incentive to improve performance on the job. PROFIT SHARING - Motivates workers toward teamwork to improve an organizations performance. Other Payments: Service Reward Sacrifice Reward Nonworking Reward MONEY AS A MEANS OF REWARDING EMPLOYEES Money has social and status value. Money satisfies many drives and needs. Money often has high valence. High instrumentality is desired. PERFORMANCE APPRAISAL - it is the process of evaluating the performance of employees, sharing that information with them, and searching for ways to improve their performance. Management By Objectives (MBO) is a personnel management technique where managers and employees work
together to set, record and monitor goals
for a specific period of time. Four steps of MBO: 1. Objective Setting - joint determination by manager and employee of appropriate levels of future performance for the employee, within the context of overall unit goals and resources. 2. Action Planning - participated or even independent planning by the employee as to how to reach those objective. 3. Periodic Reviews - joint assessment of progress toward objectives by manager and employee, perform informally sometimes spontaneously. 4. Annual Evaluation - more formal assessment of success in achieving the employee's annual objectives, coupled with a renewal of the planning cycle. Appraisal Philosophy 1. Performance Orientation - it is not enough to put forth effort; that effort must result in the attainment of desired outcomes (product or services). 2. Focus on goals or objectives employees need to have a clear of what they are supposed to be doing and priorities among their task. 3. Mutual goal setting between supervisor and employee - this is the belief that people work harder for goals and objectives that they have participated in setting. 4. Clarification of behavioral expectations - this is often done via a behaviorally anchored rating scale (BARS), which provides the employee and manager with concrete examples of various levels of behaviors. 5. Extensive feedback systems employees can fine-tune their performance better if they know