Performance Management Essay Example for Free

Performance Management Essay William Hill employee workers in order to help the company to contribute its services. The efforts of Human Resources are directed towards improving the performance of employees and thereby enabling the business to achieve its objectives. Every business has to measure the performance of their company, this is to ensure efficiency and therefore they need their staff to perform effectively. William Hill always tries there best to recognise areas that are unsatisfactory for workers and find the aspects of weakness in the organization and do provide relevant training for individuals in order to develop this skills. They also realise that hard work has to paid off well so William Hill promote and reward good performance of employees with the use of bonus and this ensures workers tend to work better because they know that if they work well the organisation does better and further increase in pay will be awarded. Due to different hierarchical structures in companies, you will find that there are several methods to monitor performance, which do benefit these companies, and the system, which is commonly found, is the appraisal system. This is a one to one meeting with employee and manager to discuss the individuals performance between a certain periods. It is a rather good way in which to gain feedback from workers, discussing their performance to improve for the next meeting, identify what training is required if needed also to classify the potential for promotion and finally to reward performance related pay. William Hill does not find this method rather approachable due to the decentralisation of power of each subsidiary and some workers dont have a based shop but it can be used to encourage their employees to perform better because in appraisals you set targets which one would strive to meet in order to gain better financial gains. This relates with Hezbergs theory of motivator factors, one is given recognition of their efforts, which then enables a chance of improvement such as promotion due to the motivation the employee has also gained job satisfaction. Douglas McGregors theory Y can also be linked to appraisals if they met the targets that are set in the appraisal meeting then there is a good chance of promotion, this means that there is chance that workers can start enjoying work and be motivated by the job itself. McGregors theory X concurrent also that a pay increase, as he assumed that those in X are motivated by money. Abraham Maslows theory correlates with employees gaining job security by performing well, and if promotion is acknowledgeable then promotion will allow them to reach self- actualisation because their full potential has been realised. Businesses can use observation, which is when the manger watches the worker while they are working to ensure they are working efficiently and fault analysis, which is when the work is checked after it, has been finished to check for mistakes. In both incidents training can be identified and check for good performances and it indicates to the individual where they are going wrong and what needs to be done better. Training enables workers to be very familiarise with their job and will perform it to their best which according to Maslow will gain self-esteem to workers due to the confidence given by performing well. Performance through profit is when a business compares profit form previous years or to rivals to show how well they are performing. William Hill can use this in enabling them to see which area needs more work to increase workers routine such as training in needed areas to ensure that they perform rather more competitively with rivals also so that employees can be awarded dep ending how well the company does. This links with Taylor and McGregor theory Y as they all presume people are only motivated by money. Performance through productivity is when a company measures its workers output, this is done through William Hill by how much betting slips are taken by each Cashier and if targets are met then bonuses are rewarded monthly with your pay. This links with Maslow stating that rewarding workers gives them esteem as well as receiving recognition for their good performance. Performance related pay is when workers are paid according to their performance at work. William Hill can increase pay according to productivity or give the workers a bonus. This can be linked into the same theories as performance through productivity as they will be rewarded in the same way because it is financial gains that workers are gaining. Through various achievements within the organisation reward can also be given for instance when new employees go through the whole stage of induction program, William Hill will issue a certificate nicely presented to the worker, also a sense of achievement means more responsibility so they have moved from the trainee section which is related to promotion also so an increase of pay due to this. Through all of this William Hill are recognising their employees effort within the organisation which relates to Maslow theory of gaining once again esteem needs due to an increase of responsibility and Herzbergs motivator factors of achievement and recognition because the have ascertained to this level in William Hill PLC. Employees tend to be rewarded with good sales performance in William Hill through the way they demonstrate their skills, knowledge, behaviour and attitude towards customers. They are rewarded with promotion, job enlargement, job enrichment and fringe benefits that should keep them motivated to perform better at their position in William Hill. Theorists such as Taylor, Maslow and theory X believe those economic sorts of rewards are good for those who only work for the love money and this will motivate them to perform well whereas theory Y, Herzbergs motivators states that the job enrichment, enlargement and promotion are giving them more responsibility which should motivate but at the end of the day they want do the extra job with less pay that what is deserved. Long service to William Hill is also an achievement made because you have gained various skills and abilities also knowledge of William Hill to apply and allow new employees to imitate. This loyalty is rewarded with extra paid holiday allowance greater bonus at the end of each year to acknowledge also. This allows workers to feel respected and recognised by the company also part of the family. Gaining the bonus is a financial incentive and Taylor believes that is what motivates workers but Herzberg sees this as only causing job satisfaction not a motivator, the real motivator is that sense of achievement and reorganisation and this also relates to Maslow because esteem is given through respect and effort due to the loyalty the worker has given to William Hill.