Flashcards in Lecture 5 Deck (27):
What are the steps in performance management?
Step 1: Define performance outcomes for company division
Step 2: Develop employee goals, behavior and actions to achieve outcomes
Step 3: Provide support and ongoing performance discussions
Step 4: Evaluate performance
Step 5: Training or Pay
What are the three key purposes of performance engagement?
What are the performance appraisal steps?
What are performance appraisal dimensions?
1. Relative: people are compared to one another
2. Absolute: define performance criteria and cut-off points
What are five criteria for effective dimensions?
1. Fit with strategy
2. Specific feedback
What is naive realism?
A persons belief they are subject to a objective reality
What is ladders of inference?
We confuse accounts of reality from reality
What is fundamental attribution bias?
We attribute problems of others to personality, but of ourselves to the situation
What is motivation?
The intensity, direction and persistence of effort in order to attain a goal
What are three main subsets of organizational rewards?
1. Financial incentives
2. Non-financial rewards
3. Intangible rewards
What are the two aspects that employees evaluate their compensation on?
What are the three types of fairness?
What are two sorting processes?
1. Attraction: people who want pay differentiated by performance
2. Retention: low performers receive lower pay, morel likely to leave
What are the four different ways of attracting new graduates?
1. High pay (materialistic)
2. Individual pay (individualism)
3. Fixed pay (risk aversion)
4. Flexible benefits (internal locus of control)
What is progressive discipline?
When the consequences become more serious if the employee repeats offense
What are three ways to manage fairness perception?
1. Disruptive fairness
2. Procedural fairness
3. Managerial fairness
What are the promises vs observed effects of downsizing?
1. Higher stock price
2. Higher productivity
3. Higher profitability
4. Lower costs
Observed effect tends to be negative for all aspects
When is downsizing harmful?
1. R&D intensive industries
2. Growing industries
3. Low capital intensity
What are downsizing alternatives?
1. Savings without separations (pay reduction, demotions, transfers)
2. Voluntary layoffs (paid leave, early retirement)
What are the three components of a psychological contract?
3. The delivery of the deal
What is controlled vs autonomous motivation?
Controlled motivation: Occurs when the person is externally motivated
Autonomous motivation: occurs when there is intrinsic job motivation
What is analytical literacy?
1. Understanding that business logic drives measurement
2. Thinking in terms of causal relationships
3. Understanding new models of analysis
4. Communication skills
What is the model for better analytics?
1. Asking right questions
2. Build theory
3. Collect evidence
What is the PICOC Model?
What are four types of evidence for an evidence based solution?
1. Scientific evidence
2. Experiential evidence
3. Organizational values
4. Organizational evidence
What are sources of organizational data?
1. Primary data
2. Secondary data