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Employee Performance Appraisal & Mitivation and Incentives - Essay Example

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Employee Performance Appraisal & Mitivation and Incentives

The general perception about performance appraisal is that it is a necessary evil, on the contrary if done correctly it helps in implementing organization strategy by communicating that is important for organization and driving employees in achieving the defined goals. The company I have chosen for studying performance appraisal system is UAE is Oman Insurance Company (OIC). It is a leading insurance company established in 1975 in Dubai. It is a huge company whose total assets are in excess of DH 3.2 Billion and paid up capital of DH 243.75 Million. It provides its customer with a variety and type of insurances and the security they need. The Process of Performance Appraisal System The process of performance appraisal system in OIC consists of the following steps. Predesigned performance appraisal forms are distributed to respective line managers before the end of the year. The performance appraisal form contains various key success factors that have been identified for the performance of a certain position. These key success factors include both capabilities and competencies personal and work related. Managers fill these form by ranking the employees on a scale of 6-10 based upon performance throughout the year, where 6 being lowest and 10 highest. The line manger has discussion with the employee about the ranking identifying his strengths and weakness areas. Employee can give his own opinion as well and ask to change his rankings. If line manager disagrees he can contact HR manger. Based upon the performance appraisal the development plan of employee is formulated by the employee and the line manager in the form of SMART objectives for the next year. After developing the career path for the employee the action plan to achieve those goals e.g. training etc. are decided. In the end these filled forms are sent to the HR manager, who updates the file of each employee for appropriate action such as compensation and benefit etc. The Objectives of Performance Appraisal The objective of the performance appraisal system at OIC is to align various HR activities and company strategy. SMART objectives are defined as a tool to achieve goals. Objectives should be specific, measurable, attainable, relevant and time bound. They contribute to the success of principal responsibilities and connect teams; department, division and broader company goals. Competencies define job behavior. What knowledge, capabilities, behaviors and actions are desirable for goal achievement? At OIC performance is only considered successful when the desired end results of a job are accomplished and the employee behavior is in consistency with the company’s core value. Employee performance is rated in four basic categories and they are exceeds expectation, meets expectation, needs development and unacceptable. It helps in aligning the reward policy of OIC with performance appraisal and hence reinforces desired behavior in employees. The performance related incentives motivate employees to maximize their performance and hence achieve their goals and company objectives. Methods and Tools Used by OIC The method used by OIC for performance appra ...Show more

Summary

PERFORMANCE APPRAISAL & MOTIVATION AND INCENTIVES Contents Introduction 4 The Process of Performance Appraisal System 4 The Objectives of Performance Appraisal 5 Methods and Tools Used by OIC 6 Reference 1 6 Reinforcement Theory 7 Reinforcement of Undesired Behavior 7 Importance of Reinforcement Theory 8 Arguments for Reinforcement Theory 8 References 2 9 Introduction Performance management is one area of HR which is most difficult to implement that is why probably it is called Achilles’ heel of human resource management…
Author : javontewilkinso
Employee Performance Appraisal & Mitivation and Incentives essay example
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