Performance management systems Essay Example | Topics and Well Written Essays - 2750 words

Performance management systems - Essay Example The causes and issues related to rewards and performance management system shall also be outlined in this particular study. There are two important components included within performance management system such as employee development and performance appraisal. It can be denoted as a mechanism to motivate employees so as to ensure that they perform well. In every organization there is a need to perform well and accomplish set organizational goals. To be more precise employees have to be highly motivated in order to reach targets and generate high profit margins for the company. Performance management system encompasses a wide array of activities required to address goals in most effective and efficient manner. This approach enables management to well align employees, resources and systems with strategic objectives. Performance management system comprises of multiple values like motivated workforce, improved control of management (2008) and generating high financial gains. Rewards or p erformance appraisal system ensures high degree of employee engagement. In this study, the first part will be literature review on performance management systems, its link to rewards and its possible strategic value. The second part shall be a reflective summary centered towards implications of findings on professional practice. Literature ReviewAccording to Zanko (2008), organizations basically witness various competitive conditions and this in turn requires continuous improvement in the workplace.