BUS150 Final Exam Study Guide.docx - BUS 150 Exam 3 Study Guide Comprehensive Topics Learned earlier now applied to new material Question If you were

BUS150 Final Exam Study Guide.docx - BUS 150 Exam 3 Study...

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BUS 150 Exam 3 Study GuideComprehensive Topics – Learned earlier; now applied tonew materialQuestion: If you were given a limited amount of funds how would you approach creating a benefits plan? 1. Identify expected performance levels 2. Encourage high levels of performance 3. Measure individual performance; then evaluate 4. Provide feedback on individual performance 5. Provide assistance as needed 6. Reward or discipline depending on performance Outcomes of Performance Management : Pay increases Incentive rewards Promotions/advancement Training and development Career planning Disciplinary actions
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Organizational Results: Goals met or not met Employee satisfaction or dissatisfaction Correspondence between performance and pay Measuring performance through perf. Standards – and challenges with each approach Types of Performance Information Trait-based Information - (less useful) - Attitude, Teamwork,Initiative,Creativity,Values,Dispositions Behavior-based information - Customer satisfaction,Verbal persuasion, Timeliness of response, Citizenship/ethics, Effective communication Results-based information (MOST EFFECTIVE) - Sales volume, Cost reduction,Units produced, Improved quality Performance Standards - Define the expected levels of employee performance - Should be realistic, measurable, and clearly understood - Benefit both organizations and employees -
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