Performance management is a continuous process that identifies, measures, and develops employee performance while aligning it with organizational goals. It involves setting goals, observing performance through ongoing feedback, and ensuring employee activities support strategic objectives. An ideal performance management system is strategic, thorough, practical, meaningful, specific, reliable, valid, fair, inclusive, open, correctable, standardized, and ethical. It serves developmental purposes and informs other HR functions like training, workforce planning, recruitment, and compensation.
Performance Management & Reward Systems: Performance linked remuneration system, Types of Rewards, Designing Reward System, Total Reward Strategies, Characteristics of an Effective Performance Reward Plan. Performance Analysis, Performance Review Discussion, Using Performance Management Systems Data for HR Decisions, Performance Improvements and Performance Management Skills.
Introduction to Performance Management - Meaning, Process, Need, Difference between Performance Appraisal and Performance Management, Components of Performance Management System
This is an important aspect of HR especially in a Current Scenario when talent engagement is very important and Reward management plays a vital role in it.
Performance Management & Reward Systems: Performance linked remuneration system, Types of Rewards, Designing Reward System, Total Reward Strategies, Characteristics of an Effective Performance Reward Plan. Performance Analysis, Performance Review Discussion, Using Performance Management Systems Data for HR Decisions, Performance Improvements and Performance Management Skills.
Introduction to Performance Management - Meaning, Process, Need, Difference between Performance Appraisal and Performance Management, Components of Performance Management System
This is an important aspect of HR especially in a Current Scenario when talent engagement is very important and Reward management plays a vital role in it.
Compensation Dimensions (Payment for Work and Performance, Payment for Non-working Days, Loss of Job Income Continuation Benefit, Disability Income Continuation Benefit, Deferred Income, Spouse/Family Income Continuation Benefit, Health, Accident and Liability Protection, Income Equivalent Payments)
Performance is often defined simply in output term .i.e. the achievement of quantified objectives.
-It is however not only the matter of what people achieve but how they achieve it.
-Performance means both behaviors and results. Behaviour emanates from the performer and transform performance from abstraction to action. Not just the instruments for results, behaviors are also outcomes in their own right – the product of mental and physical effort applied to tasks – and can be judged apart from results.
performance management – considers inputs (behaviour) and outputs (results).
In this file, you can ref useful information about performance appraisal project for mba such as performance appraisal project for mba methods, performance appraisal project for mba tips
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
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"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Chapter 1 (performance management and reward systems) 2
1. PERFORMANCE MANAGEMENT
Performance management is a continuous process of
identifying, measuring, and developing the performance
of individuals and aligning performance with the
strategic goals of the organization.
2. TWO MAIN COMPONENTS OF
DEFINITION
• Continuous process
Process Management is ongoing. It involves a never
ending process of setting goals and objectives, observing
performance, and giving and receiving ongoing coaching
and feedback.
• Alignment with strategic goals
Performance Management requires that managers
ensure that employee’s activities and outputs are
congruent with the organizational goals.
3. CONTRIBUTION OF PERFORMANCE
MANAGEMENT SYSTEM
• Motivation to perform is increased (feedback
makes people eager to learn)
• Self-esteem is increased (By recognizition and
appreciation)
• Managers gain insight about subordinates.
• The definitions of job and criteria are clarified
• Self- insight and development are enhanced
• Administrative actions are more fair and
appropriate
• Organizational goals are made clear
4. CONTRIBUTION OF PERFORMANCE
MANAGEMENT SYSTEM
Employees become more competent
There is better protection from lawsuits (data
collected during performance evaluation can
help document compliance with regulation)
There is better and more timely differentiation
between good and poor performance
Supervisor’s views of performance are
communicated more clearly
Organizational change is facilitated (Any change
can be facilitated by continuous feedback and
improvement)
5. DISADVANTAGES/ DANGERS OF
POORLY IMPLEMENTED PM SYSTEM
• Increased turnover
If the process is not seen as fair employees may
become upset and leave the organization.
• Use of misleading information
If a standard system is not in place there ere
multiple opportunities for fabricating
information about employee’s performance.
• Lowered self esteem
Self esteem may be lowered if feedback is
6. DISADVANTAGES/ DANGERS OF
POORLY IMPLEMENTED PM SYSTEM
• Wasting time and money
Performance management systems cost money and quite a
bit of time.
• Damaged relationship
As a consequence of a incomplete system the relationship
among the individual involved may be damaged.
• Decreased motivation to perform.
Motivation may be lowered for many reasons, include the
feeling that superior performance is not translated into
tangible or intangible rewards.
7. DISADVANTAGES/ DANGERS OF
POORLY IMPLEMENTED PM SYSTEM
• Varying unfair standards and ratings
Both standards and individual ratings may vary across and
with in units and also be unfair.
• Emerging biases
Personal values, biases, and relationships are likely to
replace organizational standards.
• Unclear ratings system
Because of poor communication employees may not know
how their ratings are generated and how the ratings are
translated into rewards.
8. REWARD SYSTEM
A reward system is the set of mechanisms for distributing
both tangible and intangible returns as part of an
employment relationship.
Various type of return:
Base pay
Cost-of living Adjustments and contingent pay (Merit Pay)
Short-Term Incentives
Long-Term Incentives
Income Protection
Work/Life Focus
Allowances
Relational Returns (Include recognition, status,
employment security, learning opportunities etc)
9. PERFORMANCE MANAGEMENT
SYSTEM
Cost-of-living
adjustment
Income protection
Work/life focus
Allowances
Relational returns
Base pay
Contingent pay
Short-term incentives
Long-term incentives
Low
Low
Moderate
Moderate
Moderate
Moderate
High
High
High
RETURNS DEGREE OF
DEPENDENCY
10. PERFORMANCE MANAGEMENT
SYSTEM
1. Strategic:
To help top management achieve strategic
business objectives.
2. Administrative:
To furnish valid and useful
information for making administrative decisions about
employees
3. Informational:
To inform employees about how they are
doing and about the organization’s and the
supervisor’s expectations.
11. PURPOSES SERVED BY A
PERFORMANCE MANAGEMENT
SYSTEM
4. Developmental:
To allow managers to provide
coaching to their employees.
5. Organizational maintenance:
To provide information to
be used in workplace planning and allocation of
human resources.
6. Documentational:
To collect useful
information that can be used for various
purposes.
12. CHARACTERISTIC OF AN IDEAL
PM SYSTEM
Strategic Alignment:
The system should be aligned with the unit and
organization's strategy.
Thoroughness:
The system should be thorough regarding four dimensions
- Employees should be evaluated
- Major Job responsibilities should be evaluated
- Evaluate performance spanning (Entire Review Period
rather just few weeks)
- Feedback is provided on both positive and negative
performance
13. CHARACTERISTIC OF AN IDEAL PM
SYSTEM
Practicality:
Systems that are too expensive, time-consuming, convoluted will
obviously not be effective. Good systems that are
-Easy to use
-available for use
-it is acceptable for those who use it for decision.
-Benefits of the system out weight the cost.
Meaningfulness:
The system must be meaningful in several ways.
- Standards and evaluations for each job function are important and
relevant.
- Only the functions that are under the control of the employee are
measured.
14. CHARACTERISTIC OF AN IDEAL PM
SYSTEM
- System provides for continuing skill development of
evaluation.
- Results are used for important administrative decisions.
Specificity:
Detailed guidance is provided to employees
about what is expected of them and how they can meet
these expectations.
Identification of effective and ineffective
performance:
The system distinguishes between effective and
ineffective behavior and results, thereby also identify
employees displaying various levels of performance
effectiveness.
15. CHARACTERISTIC OF AN IDEAL PM
SYSTEM
Reliability:
Measures of performance are consistent and are free of
error.
Validity:
- Measure includes all critical performance factors
- Measures do not leave out any important performance
factor
-Measures do not include factors outside employee control.
Acceptability and fairness:
Employees perceive the performance evaluation and
rewards received relative to the work performed as fair.
(Distributive justice)
Employees perceive the procedure used to determine the
rating and subsequent rewards as fair. (Procedural justice)
16. CHARACTERISTIC OF AN IDEAL PM
SYSTEM
Inclusiveness:
Employees participate in the process of creating the
system by providing input on how performance should
be measured.
Openness:
Good systems have no secrets.
-performance is evaluated frequently and feedback is
provided on an ongoing basis.
- Appraisal meets in a two-way communication process
and not one-way communication delivered from the
supervisor to the employee.
-Standards are clear and communicated on an ongoing
basis.
-Communications are factual, open, and honest.
17. CHARACTERISTIC OF AN IDEAL PM
SYSTEM
Correct ability:
There is an appeals process, through which employees
can challenge unjust or incorrect decisions.
Standardization:
Performance is evaluated consistently across people
and time.
Ethicality:
- Supervisors suppress their personal self-interest in
providing evaluations.
- Employee privacy is respected.
- Supervisors evaluate performance dimensions for
which they have sufficient information only.
18. RESOURCES AND DEVELOPMENT
ACTIVITIES
Performance management system serves as important
“feeders” to other human resources and development
activities.
Performance management training.
Performance Management provides information on
developmental needs for the employees. In the absence
of good performance management system, it is not
clear that organizations will use their training
resources in the most efficient way.
19. DEVELOPMENT ACTIVITIES
Work force planning
Performance management also provides key
information for the workforce planning.
Specifically, an organization’s talent inventory is
based on information collected through the
performance management system.
Recruitment and hiring
Knowledge of an organization’s current and
future talent is important when deciding what
type of skills need to required externally and
what types of skills can be found within
organization.
20. DEVELOPMENT ACTIVITIES
Performance management compensation
Compensation and reward decisions are likely to be
arbitrary in the absence of a good performance
management system.