Evaluate PMS Gaps to Develop an Effective Reward Policy

Abstract

In the current context most of the employees who literary exploit themselves to satisfy the top management are not satisfied inside themselves irrelevant to the amount of effort they deliver to achieve the strategic goals of the organization. The outstanding performers who sacrifice even their personal life for the betterment of the organization do not get any motivation unless the organization has developed an effective reward system. When the top performers are not encouraged and motivated, they either drag themselves into a comfort zone and give only the required output or they will start looking for better opportunities outside. Thus, the organizations get into a deep trouble not even achieving high labor turnover but also get pushed into a brain drain situation as well. This research is focused on identification and evaluation of performance management system (PMS) gaps to develop an effective reward policy reviewed through ABC company. Through the research four key independent variables (organizational culture, leadership and management, performance management tools and performance management applications) were being analyzed with the intension of identifying the relationship between the dependent variable of reward system. Initially the researcher has done a deep secondary data analysis in a holistic manner and unfolded through the chapter of literature review. Through the knowledge gained from the secondary data, the case study related to ABC company has performed in order to identify and evaluate the performance management system gaps to develop an effective reward policy.