Sign In
Not register? Register Now!
Pages:
3 pages/≈825 words
Sources:
4 Sources
Style:
APA
Subject:
Management
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 12.96
Topic:

Concept of Tying Performance to Organizational Goals

Essay Instructions:

Type: Individual Project
Unit: Performance and Compensation
Due Date: Sun
Grading Type: Numeric
Points Possible: 100
Points Earned: Points Earnednot available
Deliverable Length: 750 words
View objectives for this assignment
Go To:
Assignment Details
Learning Materials
Reading Assignment
My Work:
Online Deliverables: Submissions
Looking for tutoring? Go to Smarthinking
Assignment Details
Assignment Description
A strategic purpose for a well-blended compensation program, one that includes various types of direct compensation, is gaining employee commitment and productivity. One of the most effective tactics for this strategy is designing a process for linking individual achievement to organizational goals.
Prepare a report to senior leaders addressing the following:
Explain the concept of tying performance to organizational goals.
Describe the different types of individual and group-level performance measurements.
What are the advantages and disadvantages of individual versus group-level performance recognition?
Discuss the options an organization has to link individual or group monetary rewards to organizational success.
Develop recommendations for how to implement, monitor, and evaluate such a program.

Essay Sample Content Preview:

Individual Project
Student’s Name
Institution
Course Number and Name
Instructor’s Name
Date
Relationship between Performance and Objectives
In any given organization, performance is paramount since it determines whether it remains competitive or otherwise. Ideally, it is impossible to measure performance without roping in the objectives of an organization. As such, an organization becomes a successful performer only if its actual output aligns with its institutional goals (Bashaer et al., 2016). Some of the fundamental objectives of organizations include being competitive, employee retention, and maintaining a good reputation. These objectives boil down to organizational performance.
One of the parameters used to measure organizational performance is the ability to remain competitive and profitable. Competitiveness depends on several factors, which include employee motivation, leadership, and organizational culture. In this regard, leaders and employees should exhibit competencies to make an organization competitive (Bashaer et al., 2016). If, for instance, leaders take appropriate measures to improve employee satisfaction and motivation, it inevitably scales up their performance, which, in turn, lends an organization a competitive edge. 
Employee retention, which is closely associated with organizational culture, is the other objective that shapes an organization's performance. Organizations that espouse well-crafted and sound cultures tend to retain their employees. This means they can keep talented employees in their fold, which ultimately enhances their overall performance. Precisely, organizational performance and objectives are joined at the hip.
Individual and Group-Level Performance Measurements
From time to time, it is imperative for organizations to measure the performance of individuals. This is paramount as it enables leaders to make critical decisions that benefit the organization and employees. For instance, a manager may perceive that a particular employee can perform better if offered better training and development. In the long end, if the employees get the training and development as per the recommendations of the manager, they consolidate their performance alongside that of the organization.
Some parameters used to measure individual performance include efficiency and learning ability. Employee efficiency refers to the capacity of employees to perform and produce optimally. This involves having the capacity to utilize available resources within a stipulated time to get the expected outcomes. There are different techniques for measuring efficiency, including the narrative method, ranking method, and 360-degree evaluation (Abbasnejad et al., 2017). These techniques help determine whether employee performance aligns with the desired goals of an organization.
The other parameter used to measure individual performance is learning ability, which means the rate at which employees can learn and implement new skills. Managers can employ several metrics to measure learning ability. They include observing employees while doing their work and using key performance indicators.
Regarding groups, leaders can use such metrics as assessing the group's processes. This involves ...
Updated on
Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:

You Might Also Like Other Topics Related to goal:

HIRE A WRITER FROM $11.95 / PAGE
ORDER WITH 15% DISCOUNT!