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The purpose of performance management for Top-Shop is that the organisation needs to manage the performance of its employees effectively if it to meet the objectives of the business and to remain competitive.

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Introduction

Task 4- Performance Management Performance management is a way of checking how the employees of a firm are doing using different types of analysis. Such as performance reviews and appraisals. Businesses need to manage the performance of its employees effectively if it is to remain competitive. Most modern employees have to interface directly with customers, and decision need to be taken by employees at every level within the business, rather than waiting to be told what to do in the olden days. For a business to be successful, it needs all employees to be firing on all cylinders, working toward helping the firm to meet its objectives. 1.The purpose of performance management for Top-Shop is that the organisation needs to manage the performance of its employees effectively if it to meet the objectives of the business and to remain competitive. This is very important for the business because in order for them to be competitive with other businesses they will have to check the performance of the employees and find out the weak ones and either replace them with better employees or retrain them to improve upon their skills. So that they become competitive with other business. Performance management also allows the business to find the strong employees and give them promotions to help the business meet its objective. However in order for the Top-shop to produce a well-planed performance management system they will have to include the following: * A statement outlining the organisation's values. * A statement of the organisation's objectives. * Individual objectives, which are linked to the organisation's objectives. * Regular reviews at every six month to at the end of each year. * Performance-related pay * Training and counseling Top-shop monitors records and feedbacks to the employees in several ways. They could do this by using performance reviews, including appraisals, self evaluation, peer evaluation, target-setting for individuals and groups and measuring individual and group output/evaluation. ...read more.

Middle

This will therefore motivate the employee and work even harder for his next target because of him wanting to achieve a bonus. e. Measuring individual and group output/production with every business there is satisfaction and dissatisfaction and this is also true for Magnet LTD because often in organisation including mine there is a great amount of dissatisfaction about the way different individuals or groups are rewarded in the system, which may seem to defy logic. Many appraisal schemes include behaviour scales because it is felt that behaviour rather than personality should be appraised and rewarded. Behaviour scales describe a range of behaviours that contribute, to a greater or lesser degree, to the successful achievement of the cluster of tasks that make up a job. Supervisors carrying out an appraisal are asked to indicate which statements on the specially designed form most accurately describe a subordinate's behaviour. Documents which are used are a job evaluation and a merit rating scheme which the managers use to mark the employee. A typical example in Magnet LTD could be that a competency list could be used by 1 of the managers by Magnet LTD the competency list is used to evaluate on how well the performance was by 1 of the employees with in the business e.g. a sales person selling kitchens to customers. Therefore the competency list could include headings such as the greeting of customers, taking the order, assembling the order and so forth. These will then be marked out of yes or no, the manager could then find out the strong and weak points of the employee and removing all his negatives to positives making the employee stronger through out. 3. How is your business's approach to performance management influenced by motivational theory? You need to be aware of the importance of employee motivation and the significance of both financial and non-financial factors in terms of motivation. ...read more.

Conclusion

Another problem to this for my business is that the women who are pregnant who leave my business, still have to get maternity pay for at least a few weeks. This would be a disadvantage to my business because money would be paid to a employee who might not work again for my business. However even though if the woman returns to work at Magnet LTD she might be performing at her best because of her having to look after her child, she will be tired all the time and be under big stress. This will therefore be a problem for my business because the employee will not work at her best and could make mistakes which could be very costly to Magnet LTD. l. Minimum wage rates Will make some employees work harder in order to increase their pay, and to get bonuses. This will improve the business as he or she might raise competition with other employees who might want wage rises or bonuses as well, this will therefore improve the work output of the business because as all the other employees are working much harder. There is a downside to the minimum wage rates and that is that some employees might get a basic wage and feel that there is no need to work hard, because even if they work harder they will still receive the same amount by only doing a average days work. Which will also affect other employees and therefore the performance of Magnet LTD's employees could decrease. This would be very bad for my business because less work will be done and the business will slow down and sales could decrease as well. I will therefore fall behind my competitors and loose out on a lot of money. Therefore in order to avoid this staff must be kept happy and given annual bonuses so that they keep on working hard. This could have some positive and negative effects on my business because the employees who get paid a decent wage will work harder than those who get paid less. ...read more.

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