Achieving results usually means the achievement and realization of defined goals and objectives. The difference between achieved and set objectives is therefore a measure of work performance assessment. If objectives are clearly defined, then it is easier to select methods of measuring performance and methods of monitoring result accuracy.
Work performance is usually associated with rewarding. Each company has a unique system of employee rewarding. Beside salaries, a rewarding system also covers other mechanisms to motivate employees (benefits, promotion, praise, participation, responsibility, autonomy ...). Rewarding systems are designed to support the company's efforts in achieving business objectives. Experience shows that an investment in a variable employee rewarding is reimbursed four times!
With a rewarding system a company can achieve:
- greater individual and organizational performance,
- employee motivation,
- strengthened individuals and groups,
- support for corporate development values and an appropriate organizational culture,
- shared success and achievements,
- competition in the labour market.
eHRM.Net Rewarding module provides calculations of financial rewards for various rewarding models, like for instance, monitoring of management by objectives (identifying, defining, and achieving objectives), based on the level of work complexity and implementation of a competence system (assessment of the way of achieving goals).
The following eHRM.Net modules represent the foundation for the rewarding process:
which maintain the relevant data and parameters for the rewarding model (objectives, competencies, work performance assessment, work complexity, the reward budget...). These are mapped into data warehouse (DW), where they, together with additional parameters and algorithms, represent the basis for calculations and simulations of financial rewards. Various Business Intelligence (BI) reports are available for calculation and simulation.