Pay them based on their performance Business Essay
Pay for performance. Just over a fifth of 21 employees thought their pay was affected by meeting targets. Even with no targets set, 11 of the employees thought their pay was affected by their performance, which sounds counterintuitive, but employees may be thinking about bonuses, commission, This page of the essay, Download the full version above. Steel Co. has struggled in recent years due to poor trading conditions and financial performance. This resulted in the implementation of cost-saving strategies that led to hard Human Resource Management. There are people. Companies are created by people as a means to achieve their goals as well as their vision of what the company should be. The objectives and policies are then established and put into practice. Combined, goals, visions, and plans form strategies set out to be achieved in the long or short term. Get a custom essay on business, the opportunity to improve the profitability of the company. Improved transparency, both for individuals and their managers. The ability to track the progress of an individual project, but also of the entire company. Access to valuable indicators of challenges and opportunities within the company. In addition, when measuring business operations: 1. Feedback – employees should be informed about their performance after careful evaluation. 2. Self-control: Employees must feel a sense of autonomy and control over their goals. 3 Use of capabilities - the job must require the employee's unique ability to perform the job efficiently and effectively Armstrong, 2007.