Effective Performance Management System for enhancing employees Essay

Effective Performance Management System for enhancing employees motivation - Essay Example The paper tells that in order to enhance the performance of employees, it is important for Human Resource (HR) department to address the needs of every employee so that he/she is motivated to make valuable contributions in the organization. Motivated employees tend to work harder and also at times come up with an immense amount of creativity in their job performance. There are many motivational theories that can be implemented in the organizations for enhancing the employee’s performance but the best way is to identify each employee’s expectations from the job and to develop a performance plan that is compatible with their requirements. Some of the popular motivational theories are Taylor’s Theory, Maslow’ Hierarchy of Needs, Herzberg’s Two-factor theory, Vroom’s Expectancy Theory, McGregor Theory X and Theory Y and etc.; the central crux of each of the theory is that employees’ performance can be enhanced only by identifying their req uirements from the job and providing them the opportunities of demonstrating their intellectual capabilities. The management of the organization needs to carefully review the resources required by the employee to perform the task in an effective manner and hence the management needs to ensure that the resources are provided to the employees. One of the integral processes or systems of HR department is Performance Management System (PMS). This is a system that ensures that employees’ performance is evaluated on an ongoing basis so that they can be provided guidance on managing their jobs effectively. With the help of an effective PMS, an organization can ensure that the employees are well-aware about the tasks that they have to perform, year-end goals that have to be achieved, factors on which their performance will be evaluated and the rewards and recognition that will be given to them for doing exceptional work. For the management, the performance management system allows th em to monitor the performances and accordingly work on the need and requirements of improving employee performances.

Define corporate governance and explain why it is used to monitor and Essay

Define corporate governance and explain why it is used to monitor and control managers strategic decisions - Essay Example Therefore, since the corporate governance encompasses all the management spheres of the company, it forms the vital tool in monitoring and controlling all the strategic decisions of the company’s managers. From the above definition of the corporate governance, it is clear that it governance both internal and external factors driving the operations of a company. It is usually the responsibility of the entire management to understand and determine how to balance between the external and internal factors affecting a company (Joshi 46); hence, under the umbrella of corporate governance, the management of the company is capable of determining what affects both the external and internal player of the company. For instance, quality of a product will affect the response of the consumers. In this case, the quality of the product is manly affected by laxity of the internal factors but may also be attributed by external factors (suppliers supply poor quality of raw material). However, the whole issue lies with internal quality management that could have detected the quality of the raw material and rejected the same due to poor quality (Fernando 72). Nonetheless, the corporate governance forms a vital management aspect of a company and every aspect of corporate governance must be considered effective to ensure smooth and efficient company