performance and compensastion for uses of performance

1. Performance and
Compensation Management
MBA - III

2. • Imagine you are a HR Manager. Write at least any five thoughts that comes
to your mind on ‘Performance”

3. Meaning & Definition
The first step is to know “performance”. The literary meaning of performance is “an act of staging or
presenting a play, concert or other form of entertainment.”
Also, performance goes synonymous with “accomplishment” and “Fulfillment”.
As we take the word performance for Business administration, we can define performance as “the
accomplishment of a given task with the set standards, precision, quality and completeness”.
Popular industrial psychologist Campbell defines Performance as “behaviour of an individual
towards the given task”.

4. A successful performance management
. A successful performance management is
➢➢ Where the employee’s interests are understood by the employer and
renders his helping hand to develop employee’s career as well as his
performance and
➢➢ The employee understanding the requirements of the organisation,
cooperating and accepting the helping hand of employer to increase his
performance levels and thus also his self.

5. Performance Management is conducted and understood on two
classifications
1. Performance of the employees in
the organization
2. Performance of the organisation

6. Principles of
Performance
Management
Transparency
Employee
Empowerment
Organisational
Values and
Culture
Amicable
Workplace

7. Pre requisites
of PM
Organisational Strategies and Goals
Planning
Leadership
Standardization of Evaluation Methods
Cooperation, not Control
Validity
Trained Managers for Evaluation

8. Scope of the performance management
Providing employees a better understanding of their role and responsibilities
Increase the confidence of the employees through recognizing their strengths
Identifying training needs to overcome the weak areas
Improve the relationships in the working areas
Improve communication between superior and subordinates
Improve teams and team spirit
Improve commitment
Succession planning through grooming subordinates to future managers

9. Steps towards Implementation
Providing
space for
personal
reflections
01
Providing a
platform for
personal
development
02
Providing
assistance
to
achieve
personal
career
goals
03
Providing
a better
work
environm
ent and
work
place
04 Providing
counseling
to make
work life
balance
05 Improving the
overall
organisational
work culture
06
Creating
qualitative
work
environment
07

10. Significance of Performance Management
Effective business environment
Improved HR activities
Motivation
Improved Work Culture
Sustainable work force
Optimal utilization and productivity
from the work force
Scope for continuous learning

11. Difference Between Traditional PMS &
Progressive PMS