Discuss the benefits, challenges and tradeoffs of pay-for-performance, or merit pay. How would a pay-for-performance policy support the organization’s strategic goals? What factors should be considered in evaluating the effectiveness of this practice?
b) Select three methods for conducting an evaluation of an employee’s performance and discuss the advantages and disadvantages for each method. Discuss what level of employee (management, administrative, clerical, laborer, etc.) you would use each method to evaluate.
Reference
Heathfield (2019). Performance Management Process Checklist
Heathfield (2019). Why Employee Performance Appraisal Does Not Work
Lumen Learning (nd). Designing a High Performance Work System Retrieved from https://courses.lumenlearning.com/principlesmanagement/chapter/16-6-designing-a-high-performance-wo
Heathfield (2019). The 5 Goals of Employee Performance Evaluation
Bacal (nd) “A Performance Management Bias and Error Glossary” (HTML) The Performance Management and Appraisal Resource Center : Retrieved from http://performance-appraisals.org/Bacalsappraisalarticles/articles/bias.htm (Very brief definition of terms that affect performance management)
Heathfield (2020). 4 Common Problems with Performance Appraisals
Lumen Learning (nd). Performance Appraisals Retrieved from https://courses.lumenlearning.com/wmintrobusiness/chapter/reading-performance-appraisals/
Performance and Rewards
Heathfield (2020). The Advantages and Disadvantages of Merit Pay
Petersen (2019). Advantages and Disadvantages of Pay-for-Performance Policies