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Factors that need to be considered when managing performance
Performance management and employee engagement should be a top priority for forward thinking and agile businesses. While managing performance there are some factors that should be taken into account which are important in performance management. Examining employee behaviour, providing low-cost benefits, including weekend activities and daily commutes, regular managerial communications, creating smart objectives and including better software can effectively boost employee performance (Novita, 2019). It has been stated by Taba (2018), low-cost factors sometimes influence greatly on employee performance. For example providing complimentary coffee, or short breaks within the workplace, boosts cognitive performance of employees as well as reduces errors. Moreover, engaging employees in weekend activities that correlates to organisational work and managing the length of daily commute can also enhance staff performance. Further, as stated by Novita (2019), considering factors such as managing communication flow and building collaboration can successfully enhance overall organisational performance. Along with these, one of the most important factors for performance management is setting a goal. According to Novita (2019), setting a goal prior incorporating performance management practices can be as essential factor for leading the performance of the workforce towards the achievement of that particular goal.
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Data required by individuals involved in performance and reward management processes
Performance management data is used to analyse the efficiency of managers to engage their employees for setting exceptions, clarifying roles, planning development and addressing performance. Gathering specific data for performance and reward management is fundamental and this may include monitoring turnover by performance level, tracking the link between performance compensation and promotion, evaluating workforce strengths and more (Armstrong et al., 2011). Along with these availing employees and the managers with key performance indicators (KPI) to measure and develop their performance can also be influential as a data system in performance management (Hester et al., 2017). Moreover, the L&D data system can also be useful. L&D data system strives for enhancing the learning of the employees and promoting development of their skills (Brassey et al., 2019). Hence, this data source can effectively improve the performances of the employees.
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