Solution
| The capacity of employees to carry out their tasks and obligations in accordance with their employer’s requirements is known as people performance. The capacity of an organization to accomplish its goals and objectives is known as organisational performance (Ibrahim & Daniel, 2019). The amount of time it takes a project to be completed successfully and the capacity to produce high-quality goods and services can be used to gauge a person’s performance. On the other hand, critical measures including profitability, gross margin, and liquidity ratios are used to gauge organizational performance. GA Pensions should consider different aspects during performance management, including openness and justice. Everybody should be made aware of the procedures utilized to reward staff, and these procedures should be equitable to all.
Through important factors like absence rate and product and service quality, people performance can have an impact on incentive strategy. GA Pensions can respond by raising compensation and offering competitive employee benefits. Lack of recognition and appreciation may be a major factor in the higher absence rate. The method to reward is also impacted by the quality of the goods and services. GA Pensions would give workers external incentives to encourage them to concentrate on delivering high-quality products and services (Fatima, 2021). The way in which rewards are given might be connected to a number of concerns with organizational effectiveness. These concerns include talent competition and legislative changes. GA Pensions may decide to give greater compensation and perks to attract and keep talent as a result of increased competition for talent. GA Pensions will have to adapt its pay structure to reflect new minimum wage rates in the event that the National Minimum Wage changes.
|
| Compare two different types of benefits offered by organisations and the merits of each. (AC 1.4)
Short references should be added into your narrative below. Please remember to only list your long references in the reference box provided at the end of this section.Word count: Approximately 300 words
|
Please click the following icon to access this assessment in full
