The Effect of Employee Engagement In Reward Systems and Performance Management Introduction The success of any organization rests on the strategic management of its employees. It’s vital for an organization to attract, motivate and retain the best talent available to achieve and sustain a long-term competitive advantage. To achieve this the Human Resources Department must design a performance management system that not only links employee performance outcomes and expectations to its strategic goals, but also uses the system as a tool to improve employee productivity as well as recognizing employee accomplishments, all while emphasizing the employee’s role in the process. The challenging part is motivating the employee to increase and sustain productive behavior. An organization’s reward system can be used as a motivational tool if the rewards being offered are considered valuable by the employee.
Which roles could they improve upon? Management has accountability to its stakeholders as assurance that human capital is being used effectively. I consider that all three roles are all important factors, and one cannot be separate from the other. Human capital is exactly as it sounds, it is the investment, and the ROI (return of investment) for an organization. An organization invests in its employees, hiring talented people, abstracting their efficiency and skills, building and training them into current and future environments, all in part of the investment they imply towards the development of its organization.
Transformational Leadership and Management Transformational leadership involves the following factors that would complement managers to use in the workplace (Lang) * Idealized Influence; managers need to be exemplary role models. Thus making them be trusted and respected by their juniors to make good decisions for the organization and eventually follow his/ her ideals. Managers are encouraged to be role models where well-led businesses "recognize and reward people who successfully develop leaders"
The performance management creates the opportunity for management and individual success. Using performance management correctly can result in the organizational performance levels increasing and the company being more prosperous. A performance management outlines where the employee stands regarding his or her performance, as well as providing insight as to how the employee can increase his or her performance. Incorporating the organizations philosophy in the performance management sets a strong guideline for management to mirror the organizational goals when managing employee performance. This paper explored the importance of a successful method to measuring the employee skills as well as identifying gaps and delivering effective performance
This advanced tool that information can be also used for employee development. It highlights training needs and gives guidance. By using performance management system companies can ensure that fairer decision making vs. development. An organisation benefits as it put standards in place what the organisation sees what is expected and what is perceived. Treating employee employee`s fair increases the company ability to stay consistent and employees more like to stay loyal.
1.2 Analyze the impact of individual employee characteristics on organizational performance. There is a link between employee satisfaction, customer service and improved financial performance. Organizational communication is the key to employee satisfaction and employee engagement, positive interaction between managers and employees are relative to goal setting and a positive organizational culture is a significant driver to keep employees engaged and performing at optimal levels. 1.3 Determine management methods based on individual employee characteristics. Management methods based on individual employee characteristics can truly prove to be the difference between a successful
FedEx adopted an aggressive training program from competitive wages and profit sharing , bonuses , and a state of the art employee grievience process that are part of the PSP philosophy . by doing all of these things it will reflect positively on the performance of FedEx employees hence the quality of the service they deliver and the satisfaction of the internal customers will reflect also to the satisfaction of the customers with the speed and the quality of the service they are receiving . Another perspective that is being emphasized by FedEx is the system perspective where it focuses on the service side and that the customer becomes more the central in the thinking of the FedEx operation managers. the reason behind adopting this perspective is the aim to fulfil cutomers expectations and keeping them satisfied by delivering on time. Quality management at FedEx compasses all of its operations.
As a manager not only would I like to be accountable for the acquisition and retention of employees that are directly under my supervision but parts of the metrics also focuses on that as well. By being able to have direct contact throughout the entire process studies have shown that the investment toward human capital has had the greatest gain. By being able to capitalize and be the go to person in setting the training and required job specifications or traits that can create a great assets to you to better complete your department goals would also help establish useful data and experience for future employees. 3.) In general, what do you think are the advantages and limitations of such metrics?
As said in the textbook job satisfaction has a direct affect on customer satisfaction and the profitability of a company so if Foreman’s course can do what is pledges then it could have a positive effect on Albertsons profitability. 2. Positive worker attitudes have a large effect on the success of a business. Workers who come to work happy will work harder and do more to improve the company because they feel connected and pleased with their job. If a worker is not happy with their job they will not feel the need, or want to put in the extra effort to try and improve the areas of the company that need improvement.
By realizing the main factor that will ensure their business success is communication, interaction & relation with customer so Deloitte have to focus to the human capital aspect. 2.0 HUMAN CAPITAL INVESTMENT Deloitte belief that good and talented employee will give distinctive capability for them to control the market. Human capital is the main factor has to be tackle, by developing a special strategy on how to gain the best talented employee and how to manage them. For recruiting program Deloitte come with the Teach First Program and in the managing them they have Deloitte Career Connections (DCC) program in order to develop and retain the ‘best & brightest’ employee. 3.0 STRATEGIES 3.1 First Teach Program * New employee recruiting program.