Bmw Motivation and Reward Systems - 1118 Words

5.0 EFFECT OF REVIEW OF THE PAYMENT SYSTEM ON THE MANAGEMENT OF THE APPRAISAL SYSTEM PERFORMANCE APPRAISAL SYSTEM According to Dailey (2003:4/3), an organisation s performance appraisal system is defined as a process which generates valid information about employee work effectiveness for the purpose of making informed HRM decisions. Organisations must evaluate employee performance for a number of reasons:  · Employees need to understand the behavioural requirements of the job  · Employees work is evaluated for its contributions to company goals  · Employees need to know where they stand within the organization in terms of their performance  · Employees motivation to do a good job is increased by the performance appraisal†¦show more content†¦Goals should be specific, measurable, achievable, resource-based and time-specific (SMART). When goals lack these properties, they have less motivational impact because employees lose interest in them.  · The fourth element indicates that employee commitment and acceptance of goals creates the behavioural intentions to strive for the pre-established goals. Intention is directly related to both properties. Employee intentions are deepened by the clear specification of the relationship between rewards and the goals in question  · The fifth element in the model specifies the employee and organizational outcomes resulting from the process. Properly managed goal-setting systems having adequate and timely formal and informal feedback generate task performance that is valued by the organization and its employees. Employees receive valued personal rewards (recognition, pay rises, bonuses, promotions, status etc), which create job satisfaction, and increased work motivation, which in turn deepens the commitment to goal setting. Table 1.0 Aspects of the goal-setting process Environmental issues Goal Setting process Goal attributes Employee intentions Outcomes Specify results expectedExplain rewards which are availableShow MoreRelatedBmw Culture1069 Words   |  5 Pages2010 1. Describe the culture of BMW. Organizational culture is an idea in the field of Organizational studies. A culture is derived through the individual experiences, attitudes, shared values or common perceptions that are held by each member of an organization.   Organizational culture affects such outcomes as productivity, performance, commitment, self confidence, and ethical behavior.   Within the auto industry, Bavarian Motor Works, or BMW recently chose to create a paradigm shiftRead MoreStrategic Realignment of the Bmw Group1240 Words   |  5 PagesStrategic realignment of the BMW Group announced At the end of September 2007, the BMW Group took on a new strategic direction. 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