BUS303 Week 5 Final Paper Performance Management

Name

BUS303: Human Resources Management

Pro Name

7th October 2019

The Functions of Human Resource Management: Performance Management

Performance management is the systematic process whereby a company takes in the workers activities and roles in individual and team capacities to help improve the efficiency of the company thereby ensuring that its goals and objectives are met (Herman, 2019). Performance management is done in many ways including:

1. Creating work plans and planning for the expectations.

2. Monitoring the organization’s performance constantly.

3. Outlaying the standards required

4. Evaluating the employees’ performance and rewarding good performance.

Human resource planning recruitment and selection

Swanson ( 2011) explains that Human resource planning is needed when dealing the issues of supply and demand of the labour force and also dealing with the complications and requirements that come with them (Swanson, 2011). Human resource recruitment is the process of interesting the required applicants who are eligible for the different positions in the company. Human resource selection is the process of sorting out the candidates and assigning each to the required job based on the conditions met.

Human Resource Development

This is a strategy that helps workers identify and develop their specific and the overall company’s skill sets, knowledge and capabilities. This is usually a vital consideration that any prospective employees consider before they apply for any post in an organization. Swanson explains that these abilities and motivation in place to ensure that the abilities of the employees are developed are crucial in ensuring that the employees are encouraged ensuring they are retained within the organization (Swanson, 2011). The development is a process ranging from the basic development within the organization to train the workers, documentation of vital workers, guidance and coaching. This management aims to develop a better workforce to enable individual workers and the whole organization to achieve its objectives and goals and ensure a proper service provision to the customers.

Compensation and Benefits

Compensation and benefits of employees include both the money earned when doing regular jobs or any extra money earned past their required earnings. Compensation includes the regular pay or daily pay, incentive payments for working overtime and holidays, any bonus attracted and tips and commissions earned from the services and sales. This varies based on the job description, educational requirements, responsibility assigned and experience (Bryant, 2013).

Benefits are what workers get beyond their normal required compensation.

Compensation and benefits are legal requirements and whenever an employee is denied such, he or she can file a legal complaint or a lawsuit against the organization. The laws in place ensure that what the company promised in the contract of the employee is legal and binding and that it is met in its totality. Legal complaints and lawsuits are common because the companies fail to abide by the promise in the contract. Business planning management can help handle such issues to ensure that such problems do not occur in the future. Proper performance management should be able to handle such issues to ensure that the existing employees are retained and the organization can attract new employees who can aid in the development of the company

Employment and labor laws and regulations

These are the rules and regulations that ensure that the workers’ rights are not violated by prospective employers and also the working conditions are conducive for the employees (Acharya, 2013). They include the law statements and penalties in case any of the regulations are violated. These rules have an impact on the national level, especially in large organizations.

Some small companies and organization do not adhere to all rules or they have their own.

HR functions within a performance management system that contribute to effective training and development.

Planning: In effective organizations, there is a laid work plan in advance. Planning entails putting in place the expected performance and goal targets for teams and individuals to concentrate their efforts and determination to achieve the objectives and goals of the organization. Having the workers involved during the planning process enables them to understand what is required of them, how to do it and why to do it. The planning process includes the establishments of the elements and the standards required to evaluate their performance plans. The standards of performance should be determinable, logical, provable, reasonable and achievable (Herman, 2019). Through these measures and standards, the workers are held accountable for their responsibilities and any work or assignments are done individually. The plans should be made flexible to allow for adjustment when program objectives and requirements of work need any change or altercation. If used effectively the planning can be of being of beneficial value.

Monitoring: In effective organizations, work and projects are required to monitored constantly. Monitoring well means that there is a constantly measure of performance and giving current feedback to workers and work teams on their progress aimed toward achieving the set objectives and goals.

The requirements needed to monitor the performance of the workers include reviewing the worker’s progress and comparing it against the set standards. This provides the chance of how the workers are faring on with the set standards and to make any required change to the unachievable standards. Constant monitoring can help recognize the unwanted performance standards during the evaluation period and this allows reviewing the performance as opposed to waiting to the end when the rating levels are already given.

Developing: In an effective organization, workers' development requirements need to be evaluated and addressed. This development means increasing the ability to increase performance via more training, assigning work that generates new skills or other responsibility levels, improve the methods of work and other processes (Swanson, 2011). A good performance by the employees is highlighted when they are provided with good training and development opportunities. This also helps in strengthening the required skill sets and abilities enabling the workers to adapt to the changes in their work environment even in scenarios such as when new technology is introduced.

Development needs are identified when performance management is being carried out and this helps identify the loopholes and deficient areas in the performance that need to be addressed. The good performance areas are also visible and measures can be taken to ensure that the worker improves even further.

How an effective performance management system along with compensation and benefits can attract, develop, and retain talented employees.

Provision of a positive working environment: When there is effective performance management that creates a suitable working environment for the employees there will little complain and most of the employees will find it satisfactory to develop there hence, they will be retained. Non-employees will be attracted to work for the organization too.

Recognition, reinforcement and Rewards: When performance management is done 1. Rewards:

rewards [Justin Furlong] thoroughly it will identify the loopholes needed for reinforcement and also it will identify the exceptional talents, skillsets and excellent performance by the employees (Acharya, 2013). The excellent employees can be rewarded to ensure that they stay and develop further and also act as motivation to others. The loopholes that need reinforcements can attract new employees who are eager to show their talents.

Engaging the workforce and developing the potential of individual employees: The workforce can be engaged in much of the process to help them contribute their skill sets (Swanson, 2011). Their ideas and suggestions being considered can act as a boost and morale to them ensuring that they stay. Exceptional individual potentials should also be developed to encourage their talents and to show that they are valued in the organization.

Employment and labour laws and regulations that impact these areas of HRM listed above and the relationships between employees and employers.

The regulations in place to protect wages and overtime this ensures that the human resource managers have a clear selection policy of their employees and payment systems. This ensures that the compensation and bonuses of employees are fully met.

The employees are also entitled to a clear process with no discrimination during the process of selection and recruitment process that ensures the process is transparent and no discrimination against the employee.

How the functions of HRM work together to optimize organizational and employee behaviour.

Human resource management should enhance changes to make sure that the chosen applicants can manage the jobs that they are offered. The management during the planning recruitment and selection process should put in place the required standards needed for the jobs by providing training and the necessary skills (Acharya, 2013). The workers that are hired are held accountable for their experiences and skillsets and therefore are required to safeguard what is given to them and the organization’s property and any other innovations such as technology.

Human resource management and professionals should come up with viable strategies for the overall company during the planning management. These strategy plans should define the standards required to optimize the working environment of the organization. It should also comply the laws and regulations required for the business by making sure that all the laws applicable are followed from the recruitment laws to the laws on payments and conflict resolution (Herman, 2019). Performance management strategy should also be developed to outline the standards required, the rewards that will be available, how to deal with the loopholes and how the performance will be monitored now and then. These strategies will help create optimum levels in the organization and should also control how the employees behave and relate to the system of the company.

Analysis and assessment of employees should be done regularly to ensure that the actions and the work requirements are being handled and the delivery is up to the standards that they are required. This should be included in the planning process by the management to accomplish the strategic plans

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References

Acharya, V. V. (2013). Labour laws and innovation. The Journal of Law and Economics, 997-

1037.

Bryant, P. C. (2013). Compensation, benefits and employee turnover: HR strategies for retaining top talent. Compensation & Benefits Review, 171-175.

Herman, A. (2009). Performance management. Upper Saddle River, NJ: Pearson Prentice Hall.

Swanson, R. A. (2001). Foundations of human resource development. Berrett-Koehler

Publishers.

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