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31 Cards in this Set
- Front
- Back
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THE STRATEGIC IMPORTANCE OF PERFORMANCE MANAGEMENT
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Enhancing Motivation and Productivity
-Expectancy -Instrumentality -Valence -Satisfaction |
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Supporting Strategic Goals
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Strategic Planning, Alignment and Change
-Detecting Problems -Evaluating Change |
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PERFORMANCE MANAGEMENT WITHIN AN INTEGRATED HRM SYSTEM
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The Internal and External Environment
-Performance-Driven Cultures -Legal Environment Other HR Activities |
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THE HR TRIAD
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Managers
Employees HR Professionals -Support for Managers -Accountability of Managers -Support for Employees |
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WHAT TO MEASURE
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Personal Traits
Behaviors -Customer Service -Managing Multiculturalism Objective Results Multiple Criteria Weighting the Criteria |
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TIMING
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Focal-Point Approach
Anniversary Approach Natural Time Span of the Job |
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PARTICIPANTS
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Supervisors
Self-Appraisal -Accuracy -Cultural Differences Peers Subordinates -Anonymity -Usefulness Customers 360 Degree Appraisals |
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PERFORMANCE APPRAISAL FORMATS
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Norm-Referenced Formats
-Straight Ranking -Forced Distribution Absolute Standards Formats -Graphic Rating Scales -Behaviorally Anchored Rating Scales -Behavioral Observation Scales Results-Based Formats -Direct Index Approach -Management by Objectives |
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THE RATINGS PROCESS
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Rating Errors
Improving Rater Accuracy Rating Scale Format Provide Memory Aids Provide Rater Training Reward Accurate and Timely Appraisals Use Multiple Raters |
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PROVIDING FEEDBACK
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Differing Perspectives
Timing Preparation Content of the Discussion -Diagnosis -Removing Roadblocks Follow-Up When Nothing Else Works -Transfer -Neutralize -Terminate |
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CURRENT ISSUES
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Automate Performance Management
Monitoring through Technology |
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THE STRATEGIC IMPORTANCE OF TOTAL COMPENSATION
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Attracting, Motivating, and Retaining Talent
-Low Pay -Pay Secrecy -Pay Communication -Executive Compensation Implementing the Business Strategy Productivity Improvement |
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TOTAL COMPENSATION WITHIN THE INTEGRATED HRM SYSTEM
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Monetary and Non-monetary Compensation
Pay Mix Other HR Practices -Recruitment and Retention -Training and Development -Performance Management The External Environment -Labor Markets Conditions -Industry Conditions Legal Constraints and Social Considerations -The Fair Labor Standards Act (FLSA) -Equal Pay Act -Living Wage Laws The Organizational Environment -Strategy -Size -Corporate Culture |
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THE HR TRIAD
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HR Professionals
Managers Employees |
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ESTABLISHING THE INTERNAL VALUE OF JOBS
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Objectives of Job Evaluation
Job Ranking Method Job Classification Method Point Factor Rating Method -Step 1: Select Compensable Factors Step 2: Assign Factor Weights Step 3: Define Factor Degrees Step 4: Establish the Degree of Each Factor Present in Each Job Step 5: Calculate Job Values Competency-Based Job Evaluation -Domain Competencies -Broadbanding Skill-Based Pay Single versus Multiple Pay Structures |
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USING EXTERNAL MARKET RATES TO SET PAY LEVELS
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Step 1: Determine External market Pay Rates
-Relevant Labor Market -Benchmark Jobs Step 2: Establish the Market Pay Policy Step 3: Set the Organization Pay Policy |
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DESIGNING THE INTERNAL PAY STRUCTURE
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Job-Based Pay Grades and Ranges
Competency-Based Pay Structure Skill-Based Pay Structure |
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ADJUSTMENTS
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Balancing Internal and External Equity
Changes over Time Achieving Individual Pay Equity |
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COMPENSATION IN THE CONTEXT OF GLOBALIZATION
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None
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CURRENT ISSUES
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Work/Life Balance
Automation of Benefits and Compensation |
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THE STRATEGIC IMPORTANCE OF USING PERFORMANCE-BASED PAY
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Supporting Strategic Objectives
Managing Labor Costs Attracting, Retaining, and Motivating Talent |
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PERFORMANCE-BASED PAY WITHIN AND INTEGRATED HRM SYSTEM
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Other HR Activities
-Total Compensation -Performance Measurement and Feedback -HR Planning Organizational Environment External Environment |
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THE HR TRIAD
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NONE
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DESIGN CHOICES FOR PERFORMANCE-BASED PAY
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Types of Performance-Based Pay
Rewards -Which Rewards to Offer? -How big Is the Reward? -Who Gets the Reward? -When Is the Reward Given? Performance Measures -What Gets Measured? -Level of Aggregation -Multiple Measures -Time Frame of Measures Linking Performance to Rewards |
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IMPLEMENTATION ISSUES
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Gaining Employee Acceptance
Legal Considerations -Discrimination -Taxation and Accounting Rules Evaluating Effectiveness |
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RECOGNITION AWARDS
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Spot Awards
Awards for Suggestions Multiple Awards |
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MERIT PAY
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Performance Measures
Rewards Linking Performance to Pay |
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INCENTIVE PAY
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Individual Incentives
-Performance Measures -Effectiveness -Types of Individual Incentives Team Incentives -Advantages -Disadvantages Unit and Company-wide Incentives -Gainsharing -Profit Sharing |
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PAY THAT PUTS EARNINGS AT RISK
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Commissions
-Straight Commission -Combination Approach Stock Ownership -Stock Grants -Stock Options |
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GLOBAL PAY FOR PERFORMANCE
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none
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CURRENT ISSUES
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Ethical Considerations
The Shift Toward Variable Pay |
