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This report will analyse current organisational situation of Heidelberg Insurance Services Company which is a subsidiary company of a German insurance organisation.

Extracts from this document...

Introduction

´╗┐Executive Summary This report will analyse current organisational situation of Heidelberg Insurance Services Company what is a subsidiary company of a German insurance organisation. The company is a specialist in the provision of insurance against future legal fees. The main focus is at private bodies and corporate organisation which do not qualify for a state funded legal aid. They offer cover products for private detectives or spies against trespassing allegations, policy for a journalist against claims of libel and for tutors against negligence. The company?s main objective is to develop new high quality products which will cover employers in a case of being sued. Company?s research clearly shows that this kind of product will be highly attractive for customers what could lead to doubling of the business levels in the UK. However UK branch encounters several issues with management performance and reward system. The report examines mentioned issues, describes a theoretical side of problematic systems and part of organisation?s productivity and finally potential solutions are suggested. Performance management is a system which supports and measures company?s and employee?s performance. The main concern of PM is employees as they are regarded as the most valuable asset of the company possessing skills, abilities and knowledge required by company to perform in a profitable manner. In order to achieve the highest possible level of PM, employees? performance should be monitored and reviewed on a regular basis. People management framework was created to manage staff? performance and be proactive towards required changes. A link between PM and HR activities was discovered by John Purcell who called the link ??opening the black box??. However, some theorists do not believe in the link and strongly dismiss this possibility. HIS Company does not facilitate performance management system. It will be highly effective to design and adopt one in order to resolve performance issue of the company. However, company has to be able to measure the efficiency of PMS and to manage the system. ...read more.

Middle

As Brown and Armstrong stated (1999), ?Competency-based pay can be defined as paying for the development and application of essential skills, behaviours and actions which support high levels of individual, team and organisational performance[17].? There are two methods how to design effective CPS. It is mostly related to broad banded pay structure and a job family structure. The most effective method for HIS Company will be combination of family structure and broad banding. Each family branch (See appendix 10) will have a different broad banding system, as each individual job family requires possession of different skills, knowledge and abilities. Communication, IT skills, multitasking etc. are relevant for the clerical division. The boards of directors have ability of strategic and tactical thinking, strong leadership, higher qualification and previous relevant experience in economic fields. Broad banded structure is mostly effective for redesigning pay structure. This system is affective to solve retention and recruitment problems in the product development Division as employees gaining competencies can be moved onto next spinal column. See Appendix 9 Payment system of Bank of England is set according to the nature and requirements of the position and the necessary skills experience needed to perform the job. Details of the Bank?s payment structure can be seen Appendix 11 1. Rewarding Staff Reward System is an organisational system dealing with rewards to its employees. It is believed by many mangers that payment is only reward employees expect. Armstrong stated that (2002, p.4), the reward system is integration of company?s policies, processes and practices and they are rewarded according their performance, contribution, skills and competence.[18]There are two types of rewards; intrinsic and extrinsic rewards. [19]Extrinsic rewards include the basic needs such as payment, job security, ability to pay bills and recognition. In Maslow Hierarchy Pyramid of Needs, this condition is at the bottom place; financial reward. (Maslow reference) In order to increase motivation, job satisfaction and increase commitment, intrinsic needs should be a priority of the reward system. ...read more.

Conclusion

Pay Pensions Mileage allowance Assisted travel to work Flexible Working Long term disability Long term disability Long term disability Redundancy Pay Set length of paid holidays Set length of paid holidays Set length of paid holidays Recommendations Appendix 17 Area What Why By Whom Time & Cost Assessment Performance Management Balanced Score Cards To improve employees performance and to achieve company?s strategic objectives line Managers and employees 6months Results of performance management rates final reports Performance Management BI annual 360 Appraisal To measure employees performance, monitor their development, job satisfaction and to motivate employees line managers and employees 14 days per year Rate of effectiveness and employees and managers feedback Conduction of appraisal Performance Management Job rotation and job enrichment To re-motivate and encourage commitment of employees to increase their performance Senior management, line managers and employees 3 months Rate of performance, appraisal documents, two-way feedback and progress of mentioned issues Performance Management People management training for line managers Support and develop line manager?s ability to deal with employees in the most effective way The line managers and senior managers 1 week training Appraisal documents, line managers feedback, Performance Management Restructuring of present pay structure system To encourage employees? development, skills and increase their motivation Managers 1 Month Performance Management Training needs analysis To encourage employees to be trained and to identify training needs within the organisation Management and employees 7 days Employees feedback Performance Management Training for employees To develop employees skills and knowledge to reach company?s objective in the most effective way Employees, trainers 3 months Employees feedback, rate of performance results Rewards Design of benefit package for each division individually in a brochure form To reward, encourage and to motivate employees Managers and employees 5 days Production of brochure, employees feedback Rewards To create reward system To reward, encourage and to motivate employees Managers and employees Fully developed reward system Reward Line managers training in people reward management To support and develop manager?s ability to identify appropriate rewards according employees circumstances. ...read more.

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