One of the major issues for competitive advantage, therefore, is the successful motivation and training of staff. Despite a plethora of theories (Locke and Latham, 1990a; 288) which have analyzed work based motivation and satisfaction, however, theories remain commoner than the evidence to support them.
In the increasing competitive environment, organizations have to focus on value of investments in human resources especially performance management as a major source of competitive advantage. Although, business strategy means of competition is common conversation in the executive suite, taking a strategic approach can be especially beneficial for staff functions within companies, as they often are required to justify their need for resources and their contribution to the company.
Don’t waste time! Our writers will create an original "Employee Performance Management" essay for you whith a 15% discount.Create order
The following study presents the analysis of performance management issues on Marks and Spencer’s (M&S) employee motivation and training.
Performance improvement provides M&S with needed information on their employees. The information helps M&S develop the skills of the employees based on the information collected at the appraisal, it helps recognize when training is needed. Performance improvement helps M&S by improving their service by having able workers that work to their full ability and by improving the relationship between workers and the company.
Here is Marks and Spencer’s definition of performance management: Performance management is a joint process that involves both the supervisor and the employee, who identify common goals, which are linked to the goals of the organization. This process results with the establishment of written performance exceptions later used as measures
for feed back and performance evaluation. (M&S Annual report and financial statements 2008) Marks and Spencer is a multinational company have grown from a penny bazaar in the late 1880’s. UK based company to become one of the largest and most well known organisations of British culture. As a leading retailer, with a customer base of 10 million per week in over 300 UK stores, also trades in 30 countries worldwide, producing a Group turnover in excess of 8 billion. (M&S Annual report and financial statements, 2008)
M&S have to be able to manage its resources to meet the customer’s needs and those of the market. Following three years of declining profits due to economic recession, the company has attempted to rejuvenate itself. Though the company is regaining market share and profits are beginning to raise they are still suffering some problems which have resulted in the company selling some of their foreign subsidiaries and axing jobs to concentrate on their core business. Such a turn around exemplifies well the need for strategy in this type of organisation. Strategic issues will revolve around the long-term and concentrate on the direction and scope of the organisation.
We will send an essay sample to you in 2 Hours. If you need help faster you can always use our custom writing service.Get help with my paper