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ILRHR4631 Week 6 Lecture

Ilrhr4631 week 6 lecture

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Unformatted text preview: Managing Compensation Managing Spring 2009 ILRHR 4631 Week 6 Lecture Charles G. Tharp Focus for This Evenings Lecture Focus Role of Performance Appraisals in Compensation Role Decisions Decisions Discussion of TharpCo Merit Exercise Common Errors in Appraising Performance Strategies for Better Understanding and Strategies Measuring Job Performance Measuring EEO and Performance Evaluation Promotional Increases as a Pay-for-Performance Promotional Tool Tool Merit Increase Exercise Merit General reaction to the exercise? Was it easy to keep within the 5%? How did you take into account performance rating in your How decision? decision? Did position in range influence your decisions? Turn to page 361: was this your model for granting increases? What about the fact that a C/R of 1.00 corresponded to the 75th percentile of the market? Did this influence your decisions? Did Did the current state of the economy influence your decisions? What additional information would have helped in your What allocation of the merit pool? allocation Performance Appraisal Defined Performance To have a “pay for performance” model you need To a basis for assessing and describing performance. The process is called performance appraisal. The Performance appraisal is “a process of identifying, Performance observing, measuring and developing human performance in organizations.” performance Implicit in this definition is a focus on Implicit improving the capabilities of the organization organization Foundations of an Effective Performance Appraisal System Appraisal Strategy for the Firm Annual Goals and Objectives for the Firm Individual Roles and Responsibilities Job Analysis and Job Evaluations Individual Goals and Standards Expectations Performance Appraisal Feedback Feedback Performance Improvement Coaching Linking Pay with Performance Consequences Key Goals of Performance Appraisal Key What are the key goals for a performance What appraisal system? appraisal Key Goals of Performance Appraisal Key Control mechanism for feedback Allows progress to be assessed Ensures strategy-consistent behavior Reinforces values of the organization Ensures alignment of individual performance and Ensures behavior to organization culture and work systems behavior Provides the basis for developmental feedback A key mechanism for evaluation and development key evaluation development The Role of Performance Appraisals The in Compensation Decisions Used for several organizational decisions Primarily a tool to guide allocation of merit increases Performance ratings are influence...
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