Canadian Strategic HRM: Performance Management and Executive Compensation
Instructions
You are required to respond two of the three questions provided. All of your responses should be written in short essay format, adhering to the word count provided. Be sure your answers clearly address all aspects of the question.
Questions (Choose two out of three) (825 words each)
1. Performance management
a. Compare and contrast the content of the following article with what you learned from Chapter 8 of the textbook. Discuss areas where the textbook content and the article content are similar, how they differ, and why the article provides a deeper perspective on performance management. (10 marks)Hancock, B., Hioe, E., & Schaninger, B. (2018). The fairness factor in performance management. McKinsey Quarterly(2), 45–54.
b. If you were asked to design a performance management system for the company where you work or a company you know well, what would be your key considerations when designing the system? What potential challenges or risks might the system generate and how could they be mitigated? (15 marks)
2. Employee compensation
a. Compare and contrast the content of the following article with what you learned from Chapter 9 of the textbook. Discuss areas where the textbook content and the article content are similar, how they differ, and why the article provides a deeper perspective on compensation management. (10 marks)
Groysberg, B., Abbott, S., Marino, M. R., & Aksoy, M. (2021). Compensation packages that actually drive performance. Harvard Business Review, 99(1), 102–111.
b. How is executive compensation similar to and different from the compensation of employees at lower levels of an organization? For both executives and employees, what is the relationship between compensation and performance management? (15 marks)
3. Employee benefits
a. Compare and contrast the content of the following article with what you learned from Chapter 10 of the textbook. Discuss areas where the textbook content and the article content are similar, how they differ, and why the article provides a deeper perspective on employee benefits. (10 marks)
Glowa, T., Lemke, B., & Edwards, A. (2022). Four ways to evaluate and differentiate your benefits. Benefits Magazine, 59(1), 36–40.
b. How would you design a benefits package for a diverse group of employees working in a Canadian company? Be sure to discuss the benefits legislated by government(s) in Canada as well as those that the employer would choose to provide. How would you communicate this benefits package to employees, and how would you obtain feedback on its effectiveness for both employees and the employer? (15 marks)
Canadian Strategic Human Resource Management
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Canadian Strategic Human Resource Management
Question 1a: Performance Management
Performance management comprises setting goals, monitoring developments, offering feedback, and evaluating employee performance. Schwind et al. (2022) and Hancock et al. (2018) share similarities and notable differences. Some similarities between Schwind et al. (2022) and Hancock et al. (2018) include goal-setting, which emphasizes the importance of giving staff members certain, achievable goals. Schwind et al. (2022) pinpointed that in combination, workers achieving their personal goals are essential to the organization's realizing its objectives. Complete performance measurement programs demonstrate the connection between the organization's goals and worker's objectives and work plans. One strategy is to ensure organizational goals force sophisticated expectations and goals at the individual, team, and unit levels. On the flip side, Hancock et al. (2018) pinpointed that aligning worker's goal with organizational priorities is vital in developing a foundation of trust in performance management. This process involves being precise about what the company expects from workers and specific about how their work eventually fits into the bigger picture of the company's goal.
Moreover, the textbook and the article are similar in addressing giving feedback. Both emphasize how vital it is for managers and employees to communicate and provide continuous feedback. Hancock et al. (2018) purport that workers still complain about the feedback they receive, arguing that they feel disconnected or biased from their work. Top executives still rate performance management as a bureaucratic, box-confirming exercise. Meeting the objective measurements in more complex situations and roles takes a lot of work. These complex situations demand more regular feedback. Moreover, both the textbook and article evaluate the concept of performance appraisal. They elaborate mechanisms to evaluate and record employee performance. Schwind et al. (2022) noted that performance appraisal can act as an approach to provide information to describe how employees are performing in their jobs. Also, performance appraisals are communication tools for executives to notify workers about the expected performance. They are also integral in guiding discussions concerning fields of strength and weaknesses for the worker that may trigger development and training enrollment and notify long-term career plans.
On the other hand, there are notable variations in certain resources, tactics, or case studies addressed in the two