PerformanceManagement;Performance management is well established term thatis used to describe practices and decision about performance, promotion, andprocedure, termination, transfer development needs of the organization. It isthe aim to improve the organization performance and well effective performancemanagement. It is to measure the progress which is achievement towards theorganization. The term compensation is used to indicate the employees grossearnings in the form of financial reward and benefits each elements ofcompensation is linked with in individual need. . Performancemanagement is a part of management system that has given the framework tomanagers or employeesCompensationThe compensation is an important part in which acompany or organization provided services and facilities to his employee the organizationhas to reward his employees Compensation paid according to their performance ofemployees we compensate our employees according the their performance standardswe compensate our employees as financially and non-financially in compensationwe give bonuses to our employees and give gold sake hand also after theirretirement.
Performancemanagement in HRPerformance system is they discussion about the newstrategies or role in managing the employees performance its aim to change theemployee behavior and attitude by directly connecting his appraisal. What theymatter In organization senior managers and directors detect conductingassessment because they are uncomfortable and inexperienced in conducting themthey said that performance appraisal is the waste of time in Hr.· . Detect and toinitiate performance with quality into the product where the HR has tocollaborate with line managers to retain employees, which automatically affectsthe retention of customers because it is the driving force of customers Human ResourceManagement has never been as significant as it is today. Companies wantmotivate brains to meet objectives· The purpose ofperformance evaluation is to give One of the tools companies use toattract, retain and motivate its people is Compensation Management. employees a chance to fulfill their needs inorder to meet the organization’s needs and to meet their personal development.Why Performancemanagement is important in Hr.
Themanagement of staff performance is critical to organizational success. Ifperformance is not manage and there are no standards, then individual teams andorganizations will not perform to their duties well. Performance management isdirectly related because, this organization consolidates theresources of human rights o every one of the motivators Compensationmanagement in HR; . Itcontains many elements and has effect on the organization. The purpose ofproviding compensation is to attract and motivate There are two main types offinancial Compensation management is one of the most challenging human resourceareas because it compensate to the employees.
Today Humans are regarded as one ofevery company’s assets so they need to be efficiently and effectively managed. Thecompensation and benefits provides the managers with the compensation tools to build a difference among employees asthe high performance corporate culture can be built in the organization. Why compensation is important in HRCompensation is the tool of manyorganizations use to manage their employees. For an organization to receive itsmoney’s worth and motivate and retain skilled employees, according to employeesneeds compensation system is not an island by itself.
t is important that itscompensation system aligns with its HR strategy. It gives clear path of Notonly is it important for an organization to link compensation to its overallgoals and strategies, Discussion at performance managementThisis about setting the performance standards and the progress The organizationuses the performance manage to ensure the same direction at all levels the topmanagement sets the business strategy and defines the strategic initiatives.That building strong succession plans for the organization Performancemanagement provides feedback to employees or managers its aims to improve theorganization Performancemanagement starts with discussing the job duties, responsibilities andexpectations with candidates during the recruitment and selection process theconversation about compensation as it to performance matters to the employer,prospective employees and current employees. Organization Performancemanagement motivates the employees and given direction to the employees for thecareer development HR is responsible for the performance management system in developmentin the organization.. It is focused on the development of the key talents, topperformers and successors. The process identifies the best potentials in theorganization, and it differentiates them from the rest of the Populationperformance management process is connected with HR process it is the processat which employees performance evaluate by organization at their evaluation thereward.Discussion at compensation managementMostof us would have heard the term “compensation” in the context of getting paidfor the work that we do.
The work can be as part of full time engagement orpart time in nature Compensation is the glue that binds the employees oremployer together organization’s relates performance managementsystem begins long before the employee reports for her first day on the job. Performance management starts with discussing the job duties,responsibilities and expectations with candidates during the recruitment andselection process the conversation about compensation as it to performancematters to the employer, prospective employees and current employee.Compensation management is something companies must takeseriously if they are to achieve for the current jobs, they should be able to know exactly how theirperformance will be done. Competitive benefits in the marketConclusion;We observe in this discussion performance managementand compensation play an important role in the organization.
Compensation isdepend upon performance management we reward and compensate our employeesaccording to their performances standards. Organization set performancestandards for every employees and measured and evaluate according to their theperformance standards.performance