mba project report on reward system download in pdf

The process is very much cyclical and continuous in nature. Performance management is an ongoing communication process which is carried between the supervisors and the employees through out the year. Tools such as job design, leadership development, training and reward system received an equal impetus along with the traditional performance appraisal process in the new comprehensive and a much wider framework. The term performance management gained its popularity in early 1980s when total quality management programs received utmost importance for achievement of superior standards and quality performance. It is a means for promoting superior performance by communicating expectations, defining roles within a required competence framework and establishing achievable benchmarks.Īccording to Armstrong and Baron (1998), Performance Management is both a strategic and an integrated approach to delivering successful results in organizations by improving the performance and developing the capabilities of teams and individuals. Performance management can be regarded as a systematic process by which the overall performance of an organization can be improved by improving the performance of individuals within a team framework. The process of performance management starts with the joining of a new incumbent in a system and ends when an employee quits the organization. Performance management is a much broader and a complicated function of HR, as it encompasses activities such as joint goal setting, continuous progress review and frequent communication, feedback and coaching for improved performance, implementation of employee development programmes and rewarding achievements.

Performance management is the current buzzword and is the need in the current times of cut throat competition and the organizational battle for leadership. So, it can be interpreted that the role of HR has evolved from merely an appraiser to a facilitator and an enabler. Today, all the major activities of HR are driven towards development of high performance leaders and fostering employee motivation. Today, HR works towards facilitating and improving the performance of the employees by building a conducive work environment and providing maximum opportunities to the employees for participating in organizational planning and decision making process. In a way, HR and corporate strategies function in alignment. The role of HR in the present scenario has undergone a sea change and its focus is on evolving such functional strategies which enable successful implementation of the major corporate strategies.

Mba project report on reward system download in pdf