Individual Assignment: Performance Management Systems And Motivation

Student Name:Student No:Unit 5: Motivating, Managing and Rewarding PerformanceMANAGING PEOPLE AND ORGANISATIONSDate:Description of selected performance appraisal system and its componentsHuman resource management is concerned with getting the best performance from individuals, teams and an organization as a whole. Intrinsic and extrinsic motivation is used to establish in employees a coordinated behavior oriented towards achievement of organizational objectives (Wilton, 2011).Performance appraisal is the process of evaluating the benefits and costs accruing from performance management. Therefore it is a key component of the performance management process (Osterloh & Frey, 2000). The basis of a performance evaluation system is comparison of mutually agreed standards with actual performance; it is therefore an objective based system (Mohrman Jr, et al., 1989). Performance evaluation system is an open part of a comprehensive performance management system in an organization. It consists of mutual setting of objectives, performance development plan and periodic performance monitoring throughout the year (Osterloh & Frey, 2000). Performance appraisal system is designed to evaluate past performance and improve future performance, to enforce acceptable standards of performance, provide an avenue for staff recognition and provide a channel for performance communications and feedback. Performance appraisal processes assist management to