Performance Appraisal of WIUT
Westminster International University in Tashkent
Human Resources Management 2012 - 2013
To be completed by the student
Student’s ID number
00001681
Module name
Human Resources Management
Module code
BUZB512
Tutor
Mukhammadfoik Bakhadirov
Individual assignment
Group assignment
Submission deadline
Content
Introduction
“Employees will be hired and promoted because of their abilities - without outside interference.” Jane Byrne
Nowadays managers recognize the importance of reward programs to achieve business goals in case of allowance organizations to deliver the exactly amount of rewards, to the right employees, for the right reason. Head of HR departments creates unique reward strategy that supports interest of own unique human capital strategy. This paper concentrates on the critical analysis of the importance of Performance Related Pay reward system in organization. I will try to identify advantages and disadvantages of PRP.
Reward Strategy ‘Reward strategies provide a road-map from where the organization presently to where it wants to be in the future’ Schuster and Zingheim (1992)
It is common practice in multinational companies to reward employees to motivate staff to work efficient and experience make filling importance of each employee into company’s culture. The reward system divided into two types’ financial reward (fixed and variable pay) and non-financial reward (recognition, praise, achievement and professional development).
Financial reward
Financial reward subdivided into three categories. First one is Base pay. Where employee 's initial rate of wages which does not include additional lump sum compensation or increases in the rate of pay. An employee 's base salary can be
Human Resources Management 2012 - 2013
To be completed by the student
Student’s ID number
00001681
Module name
Human Resources Management
Module code
BUZB512
Tutor
Mukhammadfoik Bakhadirov
Individual assignment
Group assignment
Submission deadline
Content
Introduction
“Employees will be hired and promoted because of their abilities - without outside interference.” Jane Byrne
Nowadays managers recognize the importance of reward programs to achieve business goals in case of allowance organizations to deliver the exactly amount of rewards, to the right employees, for the right reason. Head of HR departments creates unique reward strategy that supports interest of own unique human capital strategy. This paper concentrates on the critical analysis of the importance of Performance Related Pay reward system in organization. I will try to identify advantages and disadvantages of PRP.
Reward Strategy ‘Reward strategies provide a road-map from where the organization presently to where it wants to be in the future’ Schuster and Zingheim (1992)
It is common practice in multinational companies to reward employees to motivate staff to work efficient and experience make filling importance of each employee into company’s culture. The reward system divided into two types’ financial reward (fixed and variable pay) and non-financial reward (recognition, praise, achievement and professional development).
Financial reward
Financial reward subdivided into three categories. First one is Base pay. Where employee 's initial rate of wages which does not include additional lump sum compensation or increases in the rate of pay. An employee 's base salary can be
Bibliography: Armstrong. M, (1996). Employee Reward.1st ed. Great Britain: Short Run Press. Armstrong,M. and Murlis, H., (2007).Reward management: a handbook of remuneration strategy and practice.5th ed. London: Kogan Page. Gomez-Mejia, L & Blkin, D (1992) Compensation, Organizational Strategy and Firm performance Podmoroff, D., (2005). 365 Ways to motivate and reward your employees every day- with little or no money. Florida, Ocala: Atlantic Publishing Group Inc.