Task Five – Performance Management and Reward
• A set of presentation slides and supporting notes (1,000 words)
• You don’t need to make this presentation – just prepare the documents above
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Discuss in detail what is performance management (PM), include factors, information used in PM, components that can affect and influence performance management systems, job descriptions in performance reviews; training and development plans; informal and formal reviews; workplace policies and procedures; performance management data.
Explain with clear detailed examples actors that need to be considered when managing the performance of teams and individuals
Explain with detail at least 2 different types of appraisals, self-assessment, SWOT, 360 feedback, go on to explain with detail the key skills need by those delivering the appraisal, appraiser bias; importance of objectivity, continuous review versus annual appraisal; formal reviews versus informal conversations.
Explain with examples what total reward is, the key components of this to include at least 3 financial and 3 non-financial with examples and explanation
Explore with examples and discussion how reward and performance work together and the relationship between the two, their role in recruitment and retention. Their role in motivation, including intrinsic and extrinsic motivation; motivation theory, including content theories (for example, Maslow, Alderfer and Herzberg) explaining the at least one of the theories with detail and examples of the links to reward.
Give a clear detailed explanation with examples of why employees should be treated fairly in relation to pay and reward, discuss legal minimum standards; internal equity; consistency; as an aid to retention; perceived fairness; links to motivation, openness, and inclusivity.
* 5 Reference
For more information on Essentials of People Practice read this: https://en.wikipedia.org/wiki/Human_resource_management