receive the feedback initially and to follow up with employees to provide an

Receive the feedback initially and to follow up with

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receive the feedback initially and to follow up with employees to provide an overview of the information provided Administrative Use of Multisource Feedback - Managers must anticipate several potential problems. Differences among rates can present a challenge, bias can just as easily be rooted in customers, subordinates, and peers as in a boss Evaluating Multisource Feedback - Supervisor Ratings may need to carry more weight than peer or subordinate input to resolve differences Understanding and applying MBOs Management by Objectives (MBO) – specific performance appraisal method that highlights the performance goals that an individual and manager identify together Other names for MBO = appraisal by results, target coaching, work planning and review, performance objective setting, mutual goal setting Stages in the MBO Process 1. Job review and agreement - Employee and superior review job description and key activities that constitute employee’s job 2. Development of performance standards - Employee and superior develop specific standards of performance and determine a satisfactory level of performance that is specific and measurable
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3. Setting of objectives - Employee and superior establish objectives that are realistically attainable Continuing performance discussions Employee and superior use objectives as a basis for continuing discussions about employee’s performance Combinations of Methods - No single appraisal method is best for all situations - Performance measurement system that uses a combination of methods may be sensible - Managers can choose and mix methods to accomplish what they want a performance appraisal system How to design an effective performance management system 1.Effective Performance Management Beneficial as a development tool Useful as an administrative tool Legal and job related Effective in documenting employee performance Clear about who are high, average, and low performers 2.Effective Performance Management System High, average, low performance is clear Beneficial as a development tool Useful as an administrative tool Is legal and job related Viewed as fair by employees Effective in documenting performance Chapter 11 – Total Rewards and Compensation The difference between monetary and non-monetary awards that are part of total rewards Define and describe the different components of compensation Laws governing total rewards Determining if someone is an independent contractor or not Strategic compensation decisions and how they related to motivation theories Calculating the HR metrics for compensation (e.g., FTEs) Pros and cons of different compensation philosophies Global compensation challenges Understanding comp. system design, pay grades, and the challenges with banding jobs Chapter 12 – Variable Pay and Executive Compensation Variable Pay - compensation that is tied to performance. Better performance leads to greater rewards for employees.
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Compensation - Tangible rewards that encourage or motivate action
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