You have been asked to return to your alma mater and speak to current students about performance management issues. To make the most of this experience for yourself and the students, write a three-to-four page paper (not including the title and reference pages) to help you prepare. Your paper should be written in a scholarly third-person tone; it should be in APA format. In addition to the introduction and conclusion, your paper should address the following:
Explain the concept of “performance management.”
Identify the most prominent types of performance management plans.
Compare the plans’ impact on the employee and the organization.
Discuss the relationship between performance management and compensation.
Evaluate the factors that should be considered when successfully implementing performance management within an organization.
In addition to the text, cite at least two scholarly references to support your discussion.
Read the following chapters in your text, Strategic compensation:
Chapter 3: Traditional Bases for Pay: Seniority and Merit
Chapter 4: Incentive Pay
Chapter 5: Person-Focused Pay
Dinkin, E. (2009, May). 5 point plan: Five steps to developing a long- term total compensation plan. Employee Benefit News, 23(6), 32. Retrieved from the Proquest database.
Gupta, N., & Jenkins, G.D., Jr. (1996, March). The politics of pay. Compensation and Benefits Review, 28(2), 23. Retrieved from the Proquest database.