3PRM Supporting Good Practice in Performance and Reward Management

Module Overview

This module will give an introduction to the purposes of performance and reward management and the role of human resource management (HRM) in supporting good practice. The unit will provide and introduction to the purpose and processes of performance and reward management and the role of human resource management in supporting and promoting good practice in places of work.

By studying this module learners will understand how motivational theories can be used in reward and performance management and help an organisation to achieve its set goals and objectives. As a learner you will gain skills associated with performance management and data follow up aspects in an organisation. On completion of the module learners will be confident in giving support to both managers and employees to help achieve the organisations vision.

Module Objectives

By the completion of this module students should:

·       Be able to explain the purpose of performance and its relation to organisations objectives.

·       Be able to state the components of performance management channels.

·       Be able to explain the relationship between performance management and motivation.

·       Be able to state the purpose of rewards in a performance management system.

·       Be able to state the factors considered in performance management.

·       Be able to state the components of a reward system.

·       Be able to contribute to an effective performance and reward management in a workplace.

The Importance of this Module in HR Practice

Rewarding employees in the organisation makes them feel valued and it boost their motivation to even do better in their roles. If you’re thinking of incorporating a reward system in your business you should consider the following: will the reward benefit the employees financially to better their lives? Will the reward increase the company’s performance?

A good rewarding system promotes a healthy working environment which leads to the success of the business. Research has shown that non-financial rewards in an organisation can be a good motivating factor to the employees.

Performance management gives team members an opportunity to improve their performance. Effective performance management encourages employees towards achieving the company’s long and short term goals.

Having a good performance management system, it makes it easier for managers to set realist goals. It also allows employees to set practical goals.

It increases engagement. It allows an open dialogue between managers and employees. This allow the teams to perform better in their roles thus increasing productivity.

This module will also teach on how to establish transparency. The managers share tasks that need to be completed and also demonstrate on how they should be done to achieve a positive outcome.

Through this module, learners will also understand that with a performance management system, it is easy to recognise the best performing employees. By rewarding them, it will encourage the rest to do better. Weekly checkups or after achievement of a goal is advisable to reward the best performer.

There is no a particular manual for every organisation to use for rewarding their employees. To develop an effective reward system you collect information on the policies of the current system. It is through this that you will be able to see what areas need adjustment and what new ideas you will introduce. You will get these skills by completing this module.

By completing this unit you will be able to monitor employee’s achievements in the organisation and also identify issues that might make them not achieve the set goals and objectives.

Managers should frequents give their reviews. This will make the employees know which areas they need to improve. This the reason why this module is important to both the learners and the company.

Motivation is the key to success in a business setting. This the reason why every organisation should have its own rewarding system that best motivate the employees. It can be on a weekly, monthly or yearly basis.

Module Applicability

Those who wish to have a career as human resource managers or learning and development managers. If you wish you wish to have a career in this field, this is an important module that you should study.

If you wish to gain more leadership skills associated to good practice in people management this is a core unit that you should learn. Through the module you will be able to manage the performance of your workplace and also know how best you can reward the performing employees.

Human resource and learning and development students. Those studying HRM and Land D in universities or collages, this is a must unit they should pursue. They will understand the importance of performance and reward management systems and how they contribute to achieving set goals and objectives.

Wrap up and Evaluation

3PRM supporting good practice in performance and reward management is a core module that all CIPD level 3 students should take. As a leaner you gain more knowledge and skills like ways on how to motivate employees, how to support the employees gain more skills through learning short courses, and how to increase the company’s productivity.

The students understanding will be assessed through a word written document, where they will be able to answer questions related to the unit. The assessment document contain 4 activities that should be completed. Students are also required to use real examples from the companies that they are working from while studying.

Working while studying will help the learners practically implement the knowledge and skill and it will help the organisation perform. While pursuing this module learners will also be working in their companies. They will also be doing practical activities. This will enable them gain a deeper understanding on the module.

By passing the module a certificate is awarded to the learner. This certificate makes the individual resourceful in their places of work. It will also make them have a strong career path that is competitive in the job market.