Performance and Reward Managemen1

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Performance and Reward Management

SID: 0872496

Word Count: 2999

Table of content
1.0 Executive Summarypg 3
2.0 Introduction pg 4
3.0 Definitionspg 5
4.0 Organization Culturepg 6
5.0Organization Structurepg 8
6.0 Advantages /Disadvantagespg 9
7.0 Horizontal Integrationpg 14
8.0 Management Approachespg 14
9.0 Enron /WorldCompg 16
10.0 Agency Theorypg 17-18
11.0 Remuneration Strategypg 19
12.0 Sarbanes- Oxley Actpg 22-28

1.0 Executive Summary
In the changing environment of the work place, workers are faced with numerous challenges to make the work place a safe and rewarding one while executives are being compensated with many rewards, bonuses and ridicules compensation packages that in some cases may leave an organization in want, today let examine the way in which these executives are rewarded, the policies that are in place for such a reward or not, as it relate to the average employee. the role of the executive directors. How they see performance and reward, the practical and theoretical problem facing the firm and the application of the relevance legislations.

2.0 Introduction
From the outside of an organization it seems that people within are being Rewarded because of how they look and talk, unknowing to the on looker the Systems within is still developing, things look the same as any other organization on the street. It’s on the inside that people are working together to create a strong and efficient organization.

At their most basic level, people serve as part to form a system that is strong and rewarding. The later remain in place and become the benchmark, providing support for all. These steps however are design and made by the executives and leadership of the organization, who then would request other employee’s participation in the development process which in turn will create a final product.

Having a product is one thing but is it sufficient to meet the demands of the changing environment and competition for better job satisfaction, with changes over a period of time and adjustments they would have created the right and fair system.

3.0 Definitions
Performance and Reward
1 performance management includes activities to ensure that goals are consistently being met in an effective and efficient manner. Performance management can focus on performance of the organization, a department, processes to build a product or service, employees, etc. Information in this topic will give you some sense of the overall activities involved in employee performance management. 2Taking action in response to actual performances to make outcomes for users and the public better than they would otherwise be. 3Performance management is concerned with measuring individuals' effectiveness in their roles, understanding their aspirations and determining which development actions would be most appropriate. Reward management is about understanding individuals' motivating factors, and determining the level of pay, bonus and other rewards they receive. 4Performance management is the process of creating a work environment or setting in which people are enabled to perform to the best of their abilities. Performance management is a whole work system that begins when a job is defined as needed and expectations are clearly communicated to the employee. It ends when an employee leaves your organization. ______________________________________________________________________ 1http://managementhelp.org/emp_perf/emp_perf.htm

2http://www.idea.gov.uk/idk/core/page.do?pageId=4405770
3http://www.petervince.co.uk/performance.htm
4 http://humanresources.about.com/od/performancemanagement/a/request_reward.htm

4.0 ORGNISATION CULTURE 5

Basically, organizational culture is the personality of the organization. Culture is comprised of the assumptions, values, norms and tangible signs (artifacts) of organization members and their...
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