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1. ExaminingtheImplicationsofPerformanceManagement
forPotentialWageCapping
ALiteratureReview
Supervisedby Submittedby
Dr.AmaliaStacy EileenFowler
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2. Introduction
ThisThisliteraturereviewfocusesonexploringandanalyzingtheoverallimplicationsforperformancemanagementforpotentialwage
capping.AccordingtoCayandLee(1993),theperformancecriteriaofanorganizationneedtoincludeproductivity,profitability,
customersatisfaction,marketingeffectiveness,aswellasemployeemorale.Inthisviewpoint,employeeperformanceisoften
relevantwithorganizationalperformance,asefficientandeffectiveemployeeperformancewillhaveapositiveinfluenceonthe
overallorganizationalperformance.Onotherperspective,Maine(2009),createdaframeworkinvolvingtalentmanagement,consists
ofofrecruiting,planning,learning,performance,successionplanning,careerdevelopment,measuring,compensationandreporting.In
ordertopossiblyorganizeacompanyefficiently,companiesneedtorethinktheirhiringprocess,training,andmostespecially,
rewardingtheiremployees.Thiswillencourageemployeestobecompetitive.Organizationsseektoestablish,increaseandmotivate
performanceofemployeesIvariousapplications.Assuch,performancemanagementneedstoplayavitalroleintheHRM system of
anorganization,thusinfluencingtheperformanceofemployees,andeventually,withorganizationalperformance.
ReviewofLiterature
Inordertoanswerestablishedquestionsinthisstudy,thereisaneedtodoareviewofliteratureinwhichabodyoftextfocuseson
reviewingcriticalpointsofexistingknowledge,includingthediscoveryofsubstantivefindings,includingmethodologicaland
theoreticalcontributionstowardsaspecifictopic.Iwillbeintroducingthedefinitionoftheterm performancemanagement,and
afterwardsprovidingaliteraturereview astohow performancemanagementsystem shouldbecompletedwiththreestages:
planninganddevelopingperformance,reviewingandmanagingperformance,aswellasrewardingperformance.Therewillfollowan
extensiveextensiveliteraturereviewregardingmeasurementandemployeeperformance,aswellasthenatureofrelationshipinbetweeneach
ofthestagesintheperformancemanagementsystem,aswellasemployeeperformance.
PerformanceManagement
Thestudyinvolvingperformancemanagementhasalreadymadeitsnameinthefieldofhumanresourcemanagement.Performance
isdefinedasimplementingandmanagementcomponentsofacausalmodelwhichleadstothetimelyachievementofstated
objectivesinconstraintsthatarespecifictothesituationandthefirm (Leem,1997).Inanalyzingatorganizationallevel,Iassumethat
anentitywhichisperformingwellisonewhichattainsitsobjectivessuccessfully,oronethatimplementsappropriatestrategies
effectively.TheAMOmodelalsoclaimsthatperformanceisafunctionofthemotivation,abilityandopportunityofemployeesto
participate.participate.Thisonlymeansthatacomplywilltakeadvantagemostifitorganizestheactualworkprocessinawaythatemployees
undernon-managerialpositionscanhavetheopportunitytocontributeeffort,whichmaybeachievedbyprovidingthem autonomy
whenitcomestodecisionmaking,andbyofferinggoodcommunicationandemployeemembership.Inorderfortheeffortstobe
highlyeffective,theemployeesshouldhavetheneededknowledgeandskills.Lastly,thecompanyshouldmotivatetheemployeesto
usetheirabilitiesforthebestofthecompany.
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3. AccordingtoFame(2003),thesimilaritiesinbetweengeneralperformance,alongwithHRrelevantperformanceincludeplanning,
goalsetting,feedback,aswellasrewardingactivities.However,HRrelevantperformancemanagementaimsonfocusingon
employeeormanagermanagement,thusmotivatingemployeesandmanagerstoperform theirbest.Ittakesintoconsiderationthe
overalldefinitionofgoals,aswellasthemeasurementofgoalsattained,notjustintermsoffinancialoptions,butalsoinmeetingall
aspirationsofstakeholders.
PerformanceManagementSystem
InInvariousliteratures,therearedifferentperformancemanagementmodels.Eachofthemodelscomeswithitsownimportanceasa
veryeffectivesystem fororganizationalperformancemanagement,employeeperformancemanagement,aswellasforthe
integrationoforganizationalmanagement,aswellasemployeeperformance.Thisalsoinvolvesdifferentanalysislevels,whichare
linkedclearlytotopicsthatarebeingstudiedwithstrategicHRM,andperformanceappraisals.Thedifferenttermsalsorefertothe
initiativesdoneinvariousorganizations,suchasperformancebasedbudgeting,planning,pay-for-performance,budgeting,aswellas
managementbyobjectives.
RewardingPerformancevs.WageCappingRewardingPerformancevs.WageCapping
RewardingRewardingperformanceusuallyhappenstowardstheendofanentity’sperformanceperiod.Theprimaryactivitiesalsoincludethe
evaluationoftheskillsandaccomplishmentsofemployees,includingtheneedtodiscussingevaluationwiththeemployees.Italso
evaluatesoveralleffectivenessoftheentireprocess.Itsoverallcontributiontotheorganizationalperformancewhichcanenable
improvementsandchanges,alsoprovidingfeedbacktothecompany,aswellastoindividualstaffregardingactualperformance.Also,
theeffectivenessofanyentityhighlydependsonpersonnelquality.Thismeansthatchoosingtherightpeopleshouldbeapriorityin
anyanyorganization;peoplewhoarehighlymotivatedtodotheirjob,thusmakingpersonnelpromotionasanextra.Thisalsomeans
thatanevaluationsystem shouldberequiredasthisisessentialinmakingadministrativedecisions.Thesystem playsavitalrole
towardsthemotivationofpeoplewhenitcomestousingtheircapabilitiesinpursuingthegoalsofanorganization.
References
Cay,M.&Lee,G.(1993).Performanceappraisalsthatarestressfree.USA:CareerPrinting,p.2.
Maine,G.(2009).Performancemanagementandwagecapping(3rded.).UpperRiver,NJ:PrenticePersonHall.
Leem,R.(1997).PerformanceManagement.ABriefExplanation.McGraw-Hill.Florida
Fame,G.(2003).Amultivariationanalysisofthedifferentfactorsrelatedtojobturnover.JounalofPsychology,69(5),345-350.(4)
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