performance appraisal
DESCRIPTION
COMPENSATION MAGT IN RELATION TO PERFORMANCE,REWARD, PROMOTIONTRANSCRIPT
PERFORMANCE APPRAISAL
Give feedback on performance to employees. Identify employee training needs. To judge the gap between actual and the
desired performance.Clarity of the functions to be performed by the
employees. Facilitate communication between employee
and administrator. Validate selection techniques and human
resource policies to meet federal Equal Employment Opportunity requirements
Aim of performance appraisal
Management by objectives-SMART
360 degree appraisal
Behavioral Observation Scale
Behaviorally Anchored Rating Scale
Methods of performance appraisal
Promotions
Less Expensive
Increased performance standards
Improved working conditions
Increased productivity
Advantage of promotions
Opportunities are known to all employeesStaff in selecting and interviewing should not
discriminate on the basis of age or other grounds
Treat all candidates fairlyBased on agreed criteria
When you are dealing with promotionyou should ensure
Meet with staff regularly Use agreed performance criteria to ensure
decisions are fair to all candidates.Train those involved in the promotion
If you don’t have dedicated HR department, then…
Communicate reasons for decisions around promotion
Promotion decisions
Monitor unsuccessful candidatesThere are routines or practices in place to
check
Reward
Types of rewardMonitory Non monitory
Rewards
Airtel Hindustan unileverMobilink
Companies using performance appraisal,promtion,rewards
APPRASIAL CATEGORY1)EXPERT2)VERY GOOD3)GOOD4)BASIC
MOBILINK CASE
ASSOCIATE 3-4 YEARSSPECIALIST 3-4 YEARSMANGER 2-3 YEARSDIRECTOR – ACCORDING TO THE
PRESIDENT DECISIONCHIEF –ACCORDING TO THE PRESIDENT
DECISION
Promotion policies of mobilink
The employee may receive 1 to 3 bonus subject to evaluation of accomplished objectives
BONUSES OF MOBILINK
Individual performance Target achievements special workWhat they will give life insurance mobile further education trip
Reward system of Mobilink
Your Pay and Rewards Our pay and rewards program follows a "pay for performance" philosophy: The better your results, the greater your pay opportunities.
Base pay - Because employees' base pay is the most significant portion of their compensation, McDonald's maintains the competitiveness of our base pay through an annual review of both external market data and internal peer data. In our corporate, division and region offices, McDonald's has a broadbanding compensation system. Broadbanding allows for flexibility in terms of pay, movement and growth.
Incentive pay - Incentive pay provides our employees with the opportunity to earn competitive total compensation when performance meets and exceeds goals. For our corporate, division and region offices, the Target Incentive Plan (TIP) links employee performance with the performance of the business they support. TIP pays a bonus on top of employees' base salaries based on business performance and their individual performance.
Long term incentives - Long term incentives are granted to eligible employees to both reward and retain key employees who have shown sustained performance and can impact long-term value creation at McDonald's.
Recognition programs - Our recognition programs are designed to reward and recognize strong performers. For our corporate, division and region offices, these include the Presidents' Award (given to the top 1% of individual performers worldwide) and the Circle of Excellence Award (given to top teams worldwide to recognize their contributions for advancing our vision).
Company car program - Our company car program provides eligible employees with a company car for both business and personal use. If eligible, employees can choose from a variety of vehicles, depending on their level within the company. The program covers the cost of insurance, maintenance and repair.
Employee of month
Mcdonald
Conclusion
Human Psychology
Compensation
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