As mentioned before, this report intends to solicit remuneration and performance management issues that O’Meara Electronics faces. Such issues, as put by the president of the company, are likely to affect its operation and success. Worse put, such issues have already caused a decline in O’Meara’s market position as well as its profitability. Therefore, in line with the problems faced by O’Meara, we shall discuss:
In relation to the named discussion issues, some ideas were put across by stakeholders to ensure that the outlaid objectives are achieved. Such ideas included:
In the abstract section, we gave a brief outline of the company to be discussed in this report. In the section, we also highlighted the history of the problems faced alongside what the paper intends to do. The second section is the introduction. In this section, some issues have been illuminated. Such issues include, but not limited to:
The next section is analysis where we shall expertly outline the process of diagnosis for our case study. We shall also provide evident approaches to systems of performance management and give the route map to choosing a good system for the company. Other issues that will be discussed in this section include but not limited to:
The section after that would, however, outline a comparison between two systems of performance management. We shall also argue out one of the two systems by demonstrating why it’s better than the other system (Northouse, 2007). Last but not least is the conclusion and recommendation section. Here, the report will provide a comprehensive and insightful summary of the entire report regarding performance management. We shall also provide recommendations for performance approaches, measures, and tools determined as the best for O’Meara Electronics.
Every performance management system needs to emphasize some important issues to realize success (Bass, 2015). Most of such issues are tackled by our identified system. However, we still fail to tackle issues about:
In this section, we shall begin by defining “Performance management.” By definition, it is an integrated and strategic approach towards the delivery of success that is sustained (within an organization) (Lewis and Thornhill, 2009). In this way, the performance of stakeholders is improved. Such performance improvement is, however, achieved through the development of team capabilities as well as personal contributions (Brikend, 2011).
In this scenario, we recommend the use of An Integrated Development System (IDS) (Koys, 2011). This system is all inclusive (it incorporates strategic and co-coordinative plans for the alignment of company resources). As a framework, it forms the platform by which O’Meara’s annual budgets are based. It also forms the principal strategic instrument to guide all processes of management, planning and development, investment, and implementation of decisions while taking into account the stakeholder input (Keller, Berryman and Lukes, 2009). IDS reflect on O’Meara’s:
International strategies outlined alongside the implementation of IDS are to ensure that O’Meara continually improves its international operations with regards to the local and international legislative requirements. The identified system will ensure that the company:
The ID System is designed in a way that it improves organizational effectiveness and strategic focus by seeking to continually improve organizational and individual performance (Jennifer and Gareth, 2015).
The performance of an organization is linked to that of its staff in a way or another (Russell, 2013). Therefore, it is important that the performance of an organization is tied to that of an individual. Such enables management (at the same time) for the two performances (but separately). According to our new system, a manager is required to sign employee performance contracts. Such contracts contain targets and objectives for such performances. Such objectives are required to be measurable, practical, and key performance indicators based (Gregory, Lyman and Richard, 2013). Effectively, the organizational scorecard is executed by the employees of the municipality. From a practical point of view, such a case means that organization’s strategic scorecard is the sole responsibility of departmental managers. The departmental heads must create performance plans. These must be aligned with the individual performance plan of the head of the department. In this way, employees are encouraged to work towards a common organizational goal. On the contrary, the employer is held responsible for creating an environment in which workers can deliver set targets and objectives in their job descriptions and performance contracts (Grant, 2014).
Regarding incentives and bonuses as remuneration, workers need to be paid bonuses in different work situations for various reasons. Such bonuses should be performance-related. However, the company also needs to have another type of compensation given to all workers whenever a particular project is successful or for a successful year. Apart from such bonuses, workers may also be given Holiday bonuses. Simply put, incentives are supposed to be motivational. They are supposed to be appreciative. This system is thus, involving the implementation of an incentive program to motivate workers. Such will be done through the giving of non-cash gifts including wellness programs and trips (Brown, Trevino and Harrison, 2015).
Here, we are going to compare and contrast two important systems – The Service Delivery Budget Implementation System against The Integrated Development System. The comparison is as shown below:
|
Service Delivery Budget Implementation System (SDBIS) |
Integrated Development System (IDS) |
|
– This is mainly a budgeting system and mostly supplements the IDS – It contains objectives and goals set by the organization. – It also provides the basis for performance measurement. – SDBIP that is properly formulated ensures that it internally and externally circulates appropriate information to monitor budget performance execution |
– Develops appropriate performance indicators alongside impacts and outcomes associated with its priorities and objectives. – Develops targets that are measurable – Reviews and measure its performance twice every year – Establishes a regular reporting process – Develops a warning system for the identification of poor performance areas. |
After such a comparison, the company settles for IDS because:
Conclusion and Recommendation
This remuneration and performance management report has solicited issues that O’Meara Electronics face in relation to its workforce development and management. To ensure that such issues are cubed, this system proposed An ID System. The system comes hand in hand with the development of international strategies of management and changing of the company’s position-based remuneration system to one that is person-based (Daniel and Sam, 2011). The system ensures that:
However, this report suggests that O’Meara implements the ID System alongside the Service Delivery Budget Implementation System (as a new remuneration system) to tackle employee compensation issues. The system will also help in:
References
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Brikend A. (2011) Management Research and Practice. Research Centre in Public Administration and Public Services, Romania.
Brown, M.E., Trevino, L. K. & Harrison, D.A. (2015) Ethical leadership: A Social Learning Perspective for Construct Development and Testing, Organizational Behaviour and Human Decision Processes, New York.
Claudia P. & Jonathan P. (2014) Focus Group Practice, Sage Publications, UK.
Daniel, P. S. & Sam, A. G. (2011) Research Methodology. Gyan Publishing House, Delhi.
Ezeani S. I. (2008) Research methods: A realistic approach, Sage Publications, UK.
Grant, L. (2014) Organizational Predictors of Family Satisfaction in Nursing Facilities, US.
Gregory A. B., Lyman W. P. & Richard M. S. (2013) Motivation and Work Behavior, McGraw-Hill, Sydney.
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John B. (2014) Great Motivation Secrets of Great Leaders, McGraw-Hill, Sydney.
Johnstone, R., McCrystal, S., Nossar, I., Quinlan, M., Rawling, M. & Rily, J. (2012) Beyond employment: The legal regulation of work relationships, Federation Press, Sydney.
Keller, S. M., Berryman, P. & Lukes, E. (2009) Effects of extended work shifts and shift work on patient safety, productivity, and employee health, American Association of Occupational Health Nurses, Chicago.
Koys, D. J. (2011) The effects of employee satisfaction, organizational citizenship behaviour, and the turnover on organizational effectiveness: A unit-level, longitudinal study, Wiley, New Jersey.
Lewis P. & Thornhill A. (2009) Research Methods For Business Students, Prentice Hall, Sydney.
Northouse, G. (2007), Leadership Theory and Practice, Sage Publications, London.
Robin F. & Peter R. (2015) Principles of Organizational Behaviour, Oxford, Northants.
Silverman, D. 2014, Qualitative Research Theory Method and Practice, SAGE, California.
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