Lecture # 3 ILMA UNIVERSITY COMPENSATION MANAGEMENT
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The document discusses performance evaluation and management. It defines performance evaluation as the rigorous analysis of activities to determine accountability, effectiveness, and efficiency. Performance management ensures goals are met effectively and efficiently, and can focus on organizations, departments, employees, or processes. It also aligns resources and systems to strategic objectives. The document also discusses human resource development, which deals with training and developing employees, and performance management aspects like staff training, succession planning, and coaching. Compensation management is also covered, including topics like compensation philosophy, incentive plans, and reward programs.
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This document discusses job evaluation, which is a process that compares jobs within an organization to establish their relative importance. It aims to provide a logical ranking of all jobs to form the basis for salary structure. The key principles are evaluating the job itself, not the job holder, based on present responsibilities. The main methods covered are qualitative, quantifying qualitative factors, and quantitative. The process involves forming a committee, developing a plan, choosing benchmark jobs, determining evaluation factors and their weights, analyzing benchmark jobs, and grading all other jobs accordingly.
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3. Job analysis involves studying job duties and responsibilities, job design organizes tasks to achieve objectives, and job evaluation determines the relative worth of jobs.
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Professor Akhlas Ahmed has worked as a teacher, mentor, and career advisor at Dow University of Health Sciences since 2016 and at the Pakistan Institute of Management since 2018, where he has trained departments at universities nationwide. He has held positions as Head of Department and Assistant Professor at Iqra University and Professor and Director of the Office of Research, Innovation, and Commercialization at Greenwich University. Dr. Ahmed also has experience working in industry and conducting research that has been published in international journals.
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The document discusses different types of research methodologies, including qualitative, quantitative, and mixed methodologies. It provides details on qualitative and quantitative research. Qualitative research involves descriptive, subjective data and is exploratory in nature, while quantitative research aims to test hypotheses and examine relationships between variables through statistical analysis and measurement. Both methodologies are used in various fields like social sciences, natural sciences, and business. The document also outlines specific qualitative and quantitative research methods and approaches.
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- 1. PERFORMANCE EVALUATION & MANAGEMENT Prof. Akhlas Ahmed ILMA UNIVERSITY July 1st , 2017 Lecture # 10
- 2. PERFORMANCE EVALUATION Rigorous analysis of completed or ongoing activities that determine or support management accountability, effectiveness, and efficiency. Evaluation of completed activities is called ex-post evaluation, post-hoc evaluation, or summative evaluation. Evaluation of current or on going activities is called in-term evaluation.
- 3. PERFORMANCE MANAGEMENT It includes activities which ensure that goals are consistently being met in an effective and efficient manner. Performance management can focus on the performance of an organization, a department, employee, or even the processes to build a product or service. PM is also known as a process by which organizations align their resources, systems and employees to strategic objectives and priorities.
- 4. HUMAN RESOURCES DEVELOPMENT The part of human resource management that specifically deals with training and development of the employees. Human resource development includes training an individual after he/she is first hired, providing opportunities to learn new skills, distributing resources that are beneficial for the employee's tasks, and any other developmental activities.
- 5. PERFORMANCE MANAGEMENT • Staff training & development • Succession planning • Career planning
- 6. PERFORMANCE MANAGEMENT • Coaching & counseling • Appraisal review/ranking • Organization development • Leadership development
- 7. COMPENSATION MANAGEMENT • T-Comp philosophy & design • T-Comp planning & admin. • Incentive plans
- 8. COMPENSATION MANAGEMENT • Profit-sharing scheme • Reward & recognition program • Expatriate management