3PRM WRITTEN ASS PART A

Question:

Write a report which should:

  • A description of 2 purposes of performance management and their relationships to business objectives
  • An explanation of 3 components of performance management processes
  • An explanation of the relationship between motivation and performance management, referring to 2 motivational theories
  • An explanation of the purposes of reward within a performance management process
  • A review of 3 components of a total reward system, 1 of which should be non financial.

Solution/Answer:

Purposes of Performance Management and its Relationship to Business Objectives

In contemporary entities, the fundamental purpose is possessing clear and attainable objectives. In this case, CIPD (2017a) noted that the managers are promoted in enhancing an evaluation of the achievements of the different objectives through performance reviews hence enhancing organizational operations. Hence, the purposes of performance management and their relationship to business objectives include the following:

  • Developing efficient and effective operation strategies- an entity has an opportunity of achieving particular elements that ought to hinder the attainment of the set goals and objectives hence leveraging on their competitive advantage.
  • Enhancing Decision making in Organizations- decision making is a fundamental element in achievement of the set objectives by an entity. In this case, upon performance evaluation management, an entity is presented with the information regarding their strengths, opportunities, threats and weaknesses.

3 Components of Performance Management Processes

Ideally, for an effective performance management system to be enhanced and implemented, there exist fundamental elements which ought to be prioritized. In this regard, CIPD (2017b) noted that the components are in most instances demonstrated through identifying the major challenges and therein development of training and coaching plan in the identification of the existing challenges. Hence, some of the components include;…Please click the Paypal icon below to purchase full solution for only $15