Performance and Reward Management Assignment Example | Topics and Well Written Essays - 1000 words

Performance and Reward Management - Assignment Example ure individual, group and organizational goals are understood, focused on main objectives of that organization and are connected to the drivers of results. In other words, drive the results is the desire of the employees to meet and exceed the organizational objectives and targets and to improve one’s own performance.  It is about wanting to improve the performance and calculating risk taking in the interest of improving the entire organizational performance. To engage and retain talented employees, the organization should provide them with the professional development. This can be done through motivational and reward strategies, challenging tasks and other learning initiatives that bring the career achievement and thus job satisfaction. Whether the performance management process is inconsistent, managers within certain organization should realize that lack of personal and professional development of employees will lead to the reduction of their productivity. This growing talent, as the other purpose of performance management, is essential for the organizations to succeed in their activities. To achieve data on the performance of an employee, one should track the staff’s activities against business objectives and reward one’s activities or improve the performance. It is also important to identify promising talent within certain organization and ensure right people are promoted to the appropriate positions, as it will stimulate others to achieve better results and for the organization it means better image and lower employee turnover. In order to ensure the performance management process to be effective, managers should assimilate the process and then apply it properly. For this purpose it is vital to realize in what direction one should move and thus to develop a strategic plan in the performance management process. The effective organizational plan will be composed when measurable goals are established. They will align to the organizational strategic and