Description
Solution
| The capacity of employees to carry out their tasks and obligations in accordance with their employer’s requirements is known as people performance. The capacity of an organization to accomplish its goals and objectives is known as organisational performance (Ibrahim & Daniel, 2019). The amount of time it takes a project to be completed successfully and the capacity to produce high-quality goods and services can be used to gauge a person’s performance. On the other hand, critical measures including profitability, gross margin, and liquidity ratios are used to gauge organizational performance. GA Pensions should consider different aspects during performance management, including openness and justice. Everybody should be made aware of the procedures utilized to reward staff, and these procedures should be equitable to all.
Through important factors like absence rate and product and service quality, people performance can have an impact on incentive strategy. GA Pensions can respond by raising compensation and offering competitive employee benefits. Lack of recognition and appreciation may be a major factor in the higher absence rate. The method to reward is also impacted by the quality of the goods and services. GA Pensions would give workers external incentives to encourage them to concentrate on delivering high-quality products and services (Fatima, 2021). The way in which rewards are given might be connected to a number of concerns with organizational effectiveness. These concerns include talent competition and legislative changes. GA Pensions may decide to give greater compensation and perks to attract and keep talent as a result of increased competition for talent. GA Pensions will have to adapt its pay structure to reflect new minimum wage rates in the event that the National Minimum Wage changes.
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| Compare two different types of benefits offered by organisations and the merits of each. (AC 1.4)
Short references should be added into your narrative below. Please remember to only list your long references in the reference box provided at the end of this section.Word count: Approximately 300 words
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- ADNOC success owing to remodelling of PS&M strategy, confident and capacity of spare parts sourcing, talent management and staff competency
- Improved relations with entire stakeholders (as explained in stakeholders matrix) improving overall organisation operations. 3-D printing would be an improvement from the current iSourcing hence success in technical and commercial-based evaluation
- Enhance an improvement and robust system and policy development to manage any potential gap in PS&M transformation
- Today, lower than 10% of ADNOC PS&M would be aligned to implementation of 3D printing and other modernisation strategies appropriate for the organisation
- Ensure development of new systems and policies which are appropriate for enhancing the current and future implementation of 3D printing and more modernised systems as a progress of their modernisation
- There is a necessity for successfully adopting 3D printing starting with their spare parts sourcing
- By collaborating with UAE government which owns 70% of the ADNOC shares, more revenues would be provided for the organisation successful operations.
- ADNOC engaging all the stakeholders holistically by understanding their interests and expectations
- There is a need to collaborate with government in UAE and other regulators for the sake of improving the suppliers relations
- By collaborating with institutions, they would successfully offer employees learning opportunities
- Adoption of strategic sourcing as part of ADNOC sourcing of 3D printing in spare parts sourcing
