Performance Appraisal & Management Rewarding-Samples for Students

Question: You are expected to design a reward scheme for UzElectron LLC, a store marketing ENCOM Local Manufacturing Company household appliances on Credit Payment terms, which is launching its operations January 1, 2018. Answer: Introduction In our todays economic world, competition plays a primary role in any business that operates in a free market. The behavior in leadership is core when it comes to the issue of engaging the employees. Involving the employees leads to easier goal achievement since all the workers of a given company have a central goal known to them and hence they strive towards achieving it. An upcoming business has identified a potential market for appliances and hence needs to enter the market. This paper will be visiting the strategies that UzElectron should put in place so as to succeed in its plans and objectives. Overview The leaders in UzElectron will need to make sure that the employees are engaged by making sure that they: Avail a friendly work zone between the workers in UzElectron and the management. Inspire confidence in the future of the business. The latter will be done by encourage the doing more and having less policy(Noe, 2012). Encouraging upward communication with the senior officials. The latter will be meant to bring openness and a situation whereby workers will feel free.it will be the duty of the leaders of UzElectron to make the workers feel that they know everything about their company. To instill high levels of engagement in employees, the UzElectron leaders should be able to understand that their behavior matters a lot in the instillation of high levels of engagement of the employees(Pfeffer, 2013). Internal relationship and training of workers In the workplace that exists today, the performance interrelationship and the duties performed by the management have become a key factor of consideration as far as the performance of an organization is concerned. Businesses have put more pressure on the stakeholders for them to remain active and hence see their survival in the entire market(Noe, et al., 2014). The UzElectron Company is one of these companies that will need to maintain high levels of interrelationship between the business management and the goals of the business with an aim of being efficient and good enough to execute better business strategy. The latter will result to business survival in the market. The human resource professional have a deeper understanding of optimal management system and hence they come across numerous obstacles. Performance management does not only involve the employee performance appraisal but involves many more issues. An appraisal that is properly constructed includes the all year round dialogue(Clarkson, 2014). For the UzElectron performance management to be effective enough, the managers will be required to: Align the particular employee day to day activities with the objectives of the business Give visibility and also the clarification accountability which is related to the goals of UzElectron business Provide a documentation that is required for legal purposes and also for the matter of decision making(Cascio Aguinis, 2014). Make sure that there is a trainer who visits the company regularly to oversee that the workers are updated on the existing technology. They also have to play the following roles for a good performance of UzElectron: Deliverance of regular job feedback. Set and communicate clear performance expectations. Job Analysis and Evaluation The Grading Approach For any pay to be effective enough, it should be tied within the performance. A time based pay will also increase the motivation of the workers in UzElectron and hence increase their performance. Equity in payment. Workers expect to be paid an amount that will cater for the basic needs, have some cash for recreation and then have some cash to keep up with issues to do with inflation. After some time, the workers will want to have the kind of pay that will cater for the retirement benefits. For the case of UzElectron, the company will be small since it will be just in its initial stages, the manager will have to consider squeezing some cash to have the workers feel motivated by paying them money that they would feel is able to cater for their expenditure and also enable them to save(Edgren, 2012). The business stakeholders will also involve the workers in the meetings so that they feel that they belong there and this will lead to the workers doing their job happily. Given that the latter would be put into consideration, the workers will just equalize their pay with the work they do and hence good pay will mean good performance and hence good sales. The business also needs to have different positions for the smooth running and allocation of duties. The following staffs should be identified in the UzElectron Gatekeeper Sales subordinate Sales administrator Manager Due to the variation in job positions, there are some variations in salaries and this will be shown in the table below. ? of Grade Total scores Job position Category of personnel salary for one employee Number of workers Overall expenditure ONE 10-40 Gatekeeper Support staff 200 000 1 500, 000 TWO 40-90 Sales subordinate Junior staff 400 000 4 1,600, 000 THREE 90-150 Sales Administrator Senior staff 600 000 1 600, 000 FOUR 150-210 Manager Administrative staff 1,900, 000 1 1,900 000 Determination of Job Positions Job performance Some individuals have outstanding job performances. In a case whereby there are employees who have an outstanding performance in UzElectron, then they will be rewarded accordingly as this will motivate them to work harder towards achieving greater performances(Carevi?, et al., 2014). Level of employment The kind of a job that is performed in UzElectron will also lead to the disparities in the pay among the workers. Workers will be paid differently from managers simply because of their levels of employment. Labor demand and supply The last thing to consider in UzElectron when giving out salary is the labor demand and supply(Cascio Aguinis, 2014). If the demand for labor is very high, then UzElectron will have to pay the workers a salary that will be slightly higher than their counterparts with an aim of retaining them. With time, the company will consider introducing the promotion pay as people will have to be promoted. Performance appraisal and Management rewarding Different organizations have different processes of reward management. For the case of UzElectron, the company will be required to hire the employees that meet the requirements and then it would go ahead to look at the kind of performance they will be giving out(Conger Kanungo, 2012). The company will need to observe whether the workers have the skills or they need training. The remaining task will be the kind of rewards that the business would give to the employees. After giving out the rewards, it is the duty of the leader to analyze the effects of the reward on the future life of the business. Having a payroll management will help a lot in UzElectron. Payroll management is a term that is used to refer to the tactics of administering the salaries of employees in any given organization. The activities that come up here include the calculation of the salaries of the employees, the deduction of taxes and the disbursement of the wages too. The administration of the salaries of all the employees is not an easy task. The Human resource together with the finance department are required to work together with an aim of calculating and also disbursing the salary to the employees(Conger Kanungo, 2012). Due to the latter reasoning, the payroll management can be subdivided to payroll accounting and payroll administration. Through the employment of the different methods of job e valuation in UzElectron, the business will be able to determine the relevant content and give a value determination of the positions and the equitable compensations which are competitive too(Conger Kanungo, 2012). The content of a job is evaluated on the bases of the type of the job, the skills and the knowledge that is required. The following three kinds of job content should be evaluated in UzElectron Ranking This method will be used to rank each position in the organization from the highest to the lowest. Here, each job is assigned to a particular rank depending on the overall value and the complexity in an organization. The hierarchical flow of in an organization is a good example of the rank method. This method is suitable to the small businesses since it is very simple. This would hence be suitable for UzElectron(Conger Kanungo, 2012). However, it is not easy to maintain in more complex companies. Classification This classification method uses categories or classes of similar jobs. Good example of this include the managerial and the executive, skilled and the semi-skilled. This method goes well with big companies and hence it will not be advisable for UzElectron to adopt it. Point job evaluation The points work assessment strategy utilizes a built up scale - whether tweaked or following a format - of key occupation factors and related most extreme focuses for each position inside your association. Cases of variables incorporate abilities, responsibility and exertion. Each factor may have sub-factors; aptitudes, for example, may incorporate sub-factors, for example, instruction and preparing. When you have endorsed your association wide factors and built up a point outline, evaluate each position entirely(Clarkson, 2014). Occupations are at long last positioned in view of aggregate number of focuses, from most astounding to least, and pay is allotted as needs be. Employments with comparable point adds up to by and large have comparative pay scales. Conclusion For any company that needs to establish itself, following the above structure is essential. The company should be able to employ the workers who have the technical. The employees should also be appraised in accordance to their qualification and performance. Once the above has been met, it will be easy to survive in the market. References Carevi?, M., Ki, P. Kuhta, F., 2014. Minimum Wages as an Obstacle to the Free Provision of Services. 3(1) ed. s.l.:Croatian Yearbook . Cascio, W. F. Aguinis, H., 2014. Applied psychology in human resource management.. s.l.:s.n. Clarkson, M. E., 2014. A stakeholder framework for analyzing and evaluating corporate social performance. Academy of management review. 20(1) ed. s.l.:s.n. Conger, J. A. Kanungo, R. N., 2012. The empowerment process: Integrating theory and practice.. s.l.:s.n. Edgren, G., 2012. Fair labour standards and trade liberalisation.. s.l.:Int'l Lab. Noe, R. A., 2012. Gaining a competitive advantage.. Irwin: McGraw-Hill. Noe, R. A., Hollenbeck, J. R., Gerhart, B. Wright, P. M., 2014. Gaining a competitive advantage.. Irwin: Mcgraw Hill. Pfeffer, J., 2013. Producing sustainable competitive advantage through the effective management of people. The Academy of Management Executive, Volume 9(1), pp. 34-56