DEVELOPING AND MANAGING PERFORMANCE Essay Example | Topics and Well Written Essays - 2000 words - 2

DEVELOPING AND MANAGING PERFORMANCE - Essay Example nce is recognised to bestow an organisation with pertinent statistical understanding of its existing situation in the global marketplace which in turn enables it to initiate future initiatives for developing the products/services for its customers. Hence, it can be affirmed that measuring the performances of an organisation fundamentally concentrates on the process of collecting and accounting the information about the productivity of its workforce along with the quality of services rendered (Armstrong & Baron, 2005). With due consideration to developing and managing performance of the workforce, the report intends to critically evaluate the key elements of employee reward and development policy along with practice contributing to the overall performance of Pentangelli’s in its restaurant business. Pentangelli’s is recognised as a restaurant chain situated in East and North Ridings of Yorkshire. It specialises in Anglo-Italian food items. Moreover, the discussion of this report will further include the challenges that could be faced by Pentangelli’s in terms of designing effective strategies for its employee in relation to rewards and development policies. Employee reward and development policy and practice play an imperative part for an organisation to continuously keep its employees motivated and focused towards achieving the overall goals of the organisation. The two key elements of employee reward and development policy comprise: It can be extensively observed that paying appropriate or at times higher wages to the employees or paying additional compensations is highly beneficial to increase the talent engagement as well as the method also helps to reduce the attrition rate of the employees within the organisation. A successful organisation prudently exploits compensation plans according to the performance of the workforce in order to uphold organisational values as well as recompense workers for contributing whole-heatedly towards meeting the