Performance Management: Development & Deployment
Learn how to develop and deploy performance management methods for supporting a strong management team, one that openly communicates with its employees and works to maintain a collaborative environment. Performance management is an on-going, significant aspect of the employment cycle. It's essential for human resources to integrate the right feedback guidelines and principles into their organization's culture. This course is designed for HR professionals by an HR professional. It includes a complete overview of the Performance Management process and its overlap with the employment cycle. It also provides a review on setting performance criteria, developing goals and giving effective feedback. Finally, there's a lesson on annual performance reviews and trends. My mission is to help HR professionals succeed and this course will help you understand the performance management process and how you can implement it in support of your organization.
HR Jetpack is recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP or SHRM-SCP. This program is valid for 1.25 PDCs for the SHRM-CP or SHRM-SCP. For more information about certification or recertification, please visit shrmcertification.org.
This activity, has been approved for 1.25 HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
The use of the HRCI seal confirms that this activity has met HR Certification Institute's® (HRCI®) criteria for recertification credit pre-approval.
Title: Link to the Rewards Phase
Module: Formal Performance Review
In my time as the "Performance Management" lead, I learned that many organizations have some type of connection between the annual performance review and a monetary reward.
Also called "pay-for-performance" in which the employee receives an increase based on a rating from the annual performance review. Most of us know this as the "merit increase".
It is a form of direct compensation' which I'll cover in a completely separate course but let's review the basics. A "merit increase" is defined by businessdictionary.com as a "higher wage rate paid to an employee on the basis of an agreed upon criteria such as performance." When the increase is initiated, it'll appear as a percentage or a specific amount.
Pay-for-performance programs are a typical method to reward employees. However, if you don't follow the process and guidelines in this course, the validity of pay-for-performance could be questioned.
Plus more research has shown that people are not solely interested in earning a paycheck. This is why I spent part of a lecture on non-monetary recognition.
However, I don't think pay-for-performance is going away anytime soon. A 2014 poll conducted by the Society for Human Resource Management (SHRM) found, for the first time in 5 years, pay was the number one contributor to job satisfaction.
Although it may be unclear as to whether or not pay-for-performance is an absolute program for all organizations, we do know that one size doesn't fit all and the guidelines may vary by industry and company.
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Christina A. Danforth, SHRM-SCP & SPHR, launched HR Jetpack in 2016 to support the development and professional growth of her fellow HR colleagues. She started her HR career in 2002. After obtaining her Master’s in Business Administration degree, Christina joined United Technologies Corporation. She moved across the United States...