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Performance Measurement System & Rewards Of Company

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Question:

Discuss about the Performance Measurement System & Rewards of Company.

 

Answer:

Introduction

Globalization has increased the level of competition among the business firm operating in the same market segment (Sarngadharan and Minimol, 2010). Thus a constant evaluation of the performance of employees is necessary for ensuring sustained results. Every company adopts a system of measuring the performance of its employees in all aspects. An easy-to-use system for performance management helps in the creation, analysis, and report of the performance measures. Though the concept of performance measurement has originated from considerations of financial performance, currently there is greater stress on the multi-dimensional measures of performance. Such systems also equip the company for better decision-making procedures both regarding the strategies and operations (Verbeke, Tavares-Lehmann and Tulder, 2011). The employees of any organization are the key factors, as a company is known to all by the performance delivered by them. This study deals with the description of the performance management system and its analysis of Guang Hui followed by the recommendations for improving the existing systems for obtaining better results.

Performance of Employees of the Company

Code of Conduct

To measure the performance of the Guang Hui, the management of the company should take care of few factors like:

  • The company should note the arrival and departure timing of the employees.
  • The company must record the work quality of the employees. The employees should provide their 100% effort to their projects.
  • The negative attitude of the employees towards their work, clients and their superior can also be injurious to the company (Verbeke, Tavares-Lehmann and Tulder, 2011).
  • The company should record the individual performance and the presentations of the employees which can help to progress the image and profit of the company.
  • Any bad habits like gossip, discussing personal issues can be harmful to the company; the company should care about it.
 

Management Information System

Management Information System is designed to improve the organizational performance with the help of implementation of information technology of Guang Hui. The strategy for MIS comprises of four separate components, namely, strategies for information, information technology, information management, management of change. Finally, there has to be the correct and efficient implementation of these strategies (Hollowell, 2011). MIS has proved to be an invaluable resource in several fields such as support of strategies and processing of data. The resources for MIS can be categorized into three parts, namely, relationship, human and technological resources. The MIS systems extend support to companies for increasing their profitability by efficient management of each employee’s work responsibility. The systems are designed to work according to the objectives that the Guang Hui wants to achieve for itself (O'Sullivan and Abela, 2007). The systems take into consideration some attributes for assessing the performance of the employees. Some of these attributes are specialized for the particular company while others are standard attributes such as accuracy of work, speed, quality of research and precision. The principles of implementing the system include recognition of complexity, focusing on the adoption of the system, setting priorities according to the specific business needs, extensive communication between employees followed by the final delivery (Holler, 2009).

Analyze the Appropriateness of these Performance Measures

Adequacy of performance measures of the employees who regularly late in working or frequently absent in the office is likely to hinder the overall performance of the company. Issues with punctuality denote that employee is not responsible towards their job to their full prospective and an unhelpful attitude may also be disturbing their working environment in Guang Hui (Kohlbacher and Gruenwald, 2011). In Quality of work, the appropriate conclusion of the project to the preferred standard is a key pointer in measuring employee performance. In observing of personal habits, continuous bad behavior can detract from employee performance. This might include indulging in office conversation, taking illegal breaks, troublesome performance and they utilize of computers for private reasons (Hollowell, 2011). To prevent those habits we have to explain on satisfactory in business and any suitable behavioral regulations.  A bad manner will often evident itself in disobedient performance. Characteristically, these employees will not fulfill with company policies and are likely to put on show disrespect on company and co-workers. Most companies work on a professional dress code suitable to their business sector and corporation culture (O'Sullivan and Abela, 2007). Employees who ignore the prospect and present an untidy or careless manifestation reflect deficiently on brand representation.  Depending on the personality of business consider the implementing random checks against class principles. Evaluating employee presentation should be accepted out on a continuing basis and include all areas of their employment ethic and personality achievement. Analyzing of MIS is the focal point of adoption; deliver concrete & visible profit, Priorities according to the industry needs, converse extensively, aspire to provide sound user knowledge. MIS personal assets are a significant input in the expansion of MIS competencies. MIS behaviors are usually considered knowledge-intensive and require specific technological skills. Skills relate to the amount to which an individual have the necessary technical and business skills, and specificity pertains to the extent to which MIS employees have organization-specific information such as a thoughtful of the traditions and routine of the Guang Hui.          

Recommendation and Conclusion

After the analysis of the measurements of the performance, it is clear that to improve the performance of the Guang Hui should adopt few factors such as-

  • During the reducing demand in the market, the company should think and act immediately. They should hold their position in the market rather than expand their business.
  • They should keep the record of the performances of the managers and their subordinates too. They should maintain balance sheet to facilitate the performance of the employees.
  • For the healthy cash flow, the company can pass through the facilities provided by the government that is the government provides the International marketing and trading to the organization and can help the firm for the financial growth.
  • To handle all the critical problems the company should be involved themselves with the western way which can facilitate the measure the performance of the employees.

At the end of the study, it shows a progressive performance study of the company.  It is very clear that the primary measurement of the performance of Guang Hui depends on the rules and strategies of the company. For the satisfaction of the performance and get more customers the company should focus on their corporate strategy (Sarngadharan and Minimol, 2010). Through this case, the study the performance of the employees, redesign of the plans, and identification of the goal and the achievement of the goal by executing their plan become easier. The code factors can assist the company to measure the employee's performance, and that can conduct the improvement of the staffs. Many policies and productive time can control the behavior of the employees. For determining the performance measurement of the employees, the company Guang Hui should pass through three different steps: firstly, they should make a proper strategic focus because it is the main issue of the evolution system of performance measurement. Secondly, they should utilize the strategic map in the proper way by using appropriate tools like the strategic map and the balance record of the company. Thirdly the Guang Hui should decompose the measures as per the infrastructure of the company (Amores Salvado?, 2013).  To make the work more attractive to the employees the company can give them the bonus at least once in a year if it is possible. This step can encourage the employees more than any facilities. In fact, the organization also can provide the health check up facilities which can motivate them to improve their performance (Griffin, 2005). They can divide their employees into different levels and departments which can facilitate the measurement of the employee’s performance. 

 

References

Amores Salvado?, J. (2013). Environmental innovation and firm performance. Houndmills, Basingstoke, Hampshire: Palgrave Macmillan.

Cokins, G. (2009). Performance management. Hoboken, N.J.: John Wiley & Sons.

Griffin, R. (2005). Management. Boston: Houghton Mifflin Company.

Holler, A. (2009). New metrics for value-based management. Wiesbaden: Gabler Verlag / GWV Fachverlage.

Hollowell, J. (2011). Moodle as a Curriculum and Information Management System. Birmingham: Packt Pub.

Kohlbacher, M. and Gruenwald, S. (2011). Process ownership, process performance measurement and firm performance. International Journal of Productivity and Performance Management, 60(7), pp.709-720.

O'Sullivan, D. and Abela, A. (2007). Marketing Performance Measurement Ability and Firm Performance. Journal of Marketing, 71(2), pp.79-93.

Performance management. (2010). 1st ed. London: BPP Learning Media Ltd.

Sarngadharan, M. and Minimol, M. (2010). Management information system. Mumbai [India]: Himalaya Pub. House.

Verbeke, A., Tavares-Lehmann, A. and Tulder, R. (2011). Entrepreneurship in the global firm. Bingley: Emerald.

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