Research paper on employee motivation
Performance management is the process where managers employ techniques that bring all the players in the organization together in order to improve management and performance of both the individual and the organization. Individuals within the firm are encouraged to take responsibility for the continuous development and improvement of both their skills and organizational goals. It is more of a culture development endeavor rather than a management decision for a temporal fix. By employing effective performance, a collaborative approach is applied to the individual performance and the effect it has on the performance of the team/ organization. Weiss and Hartle (1997) described performance management as, “a process for establishing a shared understanding about what is to be achieved and how it is to be achieved, and an approach to managing people that increases the probability of achieving success”
Accounting profession is one of the many key pillars that support the conduct of business today without which it would be extremely difficult to conduct business in the modern times of high business complexities and complex transactions. Accountants help track the financial path of the firms they account for and are as such responsible to big extents the financial decisions firms make. The accounting profession is highly dependent on human capital and the endowment upon the available capital to execute their tasks to completion and in a manner devoid of any reproach. It is therefore important accounting firms take extra attention to their staff and possible methods that would apply in improving the execution of their responsibilities. This research paper concentrates on the application
Components of a complete performance management system in an accounting firm From the research, the following components are obligatory for effective functioning of the complete performance management system.
- A Performance Review Cycle, (PRC) of their accounting personnel
- The Performance Improvement Plan (PIP), a supportive approach to addressing underperformance
- HR and Discipline Specific Professional Practices within the organization
- Relevant HSE performance measures, HSE performance Reports, Health Stat (Thomas K, 2009)
The performance review cycle would incorporate that the human resource personnel supervising the first level supervisors convenes at least three meetings within the cycle where there are held discussions on the risks to successful conduct of their accounting job, objectives and other issues affecting the discharge of the duties by the accountants. The dependency of accounting on the efficiency of the staff themselves demands that an environment challenging, in terms of meeting demands, and supportive as well is cultivated in the accountants.
The second meeting convened will require the mid level managers to table their progress reports, this meeting is set in the middle of the accounting cycle where the mass of the work to be done is already certain and progress towards that end evaluated and necessary tweaking to achieve ends.
The third meeting is convened at the end of the accounting cycle where review on the ending period is done and a self-diagnosis is done to determine the areas that could have done with an improved performance from the accountants.
The Performance Improvement Plan (PIP), a supportive approach to addressing underperformance
This intervention is a time bound process designed to address a performance issue in a civilized and amicable manner. This is not a disciplinary measure, and in the case of the supervising staff in an accounting firm, they are assessed for meeting performance benchmarks within their sections concerning quality and beating of deadlines. The nature of accounting demands standards nearing perfection and this was found to be a pivotal role within the PMS in an accounting firm and all other service-oriented companies as the line between quality and lack of future business is very thin, and accountants are required to meet the highest standards of quality they can muster.
HR and Discipline Specific Professional Practices within the organization
Sound human resource management practices where the members of the accounting firm are made aware of their responsibilities and expectations of them is implemented. By utilization of this strategy, and strict requirements on disciplinary thresholds, proved to create a positive image for the organization and subsequently attracted business. Adherence to the GAAPs strictly usually followed a strong business showing for the firm, and an increase in the clientele for the accounting firm in question. Adoption of strict measures towards discipline is vested upon the supervisory staff that ensures that their subordinates adhere to strict measures of discipline by remedying any suspected and real aberrations.
Relevant HSE performance measures, HSE performance Reports
The research established that strict adherence to policies and guidelines managing the profession in the accounting firms resulted in increased levels of customer confidence in the accounting firm’s practice. Accounting officers and firms who lay emphasis on proper reporting and submission of reports posted positive reviews from the clients.
How performance management system supports employee motivation and contributes to maximizing company performance and competitive advantage.
Employment of initiatives such as appreciation of well performing employees within the performance management initiatives improves the morale of the accountants by the knowledge that distinctive performance is rewarded.
Examples of how employee motivational techniques can maximize employee contributions.
High employee motivation depends on the application of the correct management skills. some of the techniques that a managers use are, treating employees as people first and foremost, empower workers with the right tools for execution of their duties, institute a reward system, re-invent job descriptions and create a flexible working atmosphere. (Thomas K, 2009)
In an accounting firm for instance, trust on the accounting personnel assigned to a certain task that they will execute it conclusively motivated them to producing consistently in order to maintain the good relations with their supervisors. Accounting firms that used the most recent and advanced accounting tools such as softwares, were found to have the highest productivity per accountant ratio. This observation is attributed to the fact that they were more comfortable achieving the same/ or better results to other less upgraded firms, and in a shorter time. The reward system, if properly instituted, provided a useful tool for management in improving worker morale and productivity. Accounting firms rewarding quality work rather than output, registered higher employee motivation in the long run. A constant of positions held by the accountants, such as rotating roles, proved an engaging way of maintaining employee interest by avoiding over-familiarity.
American Institute of Certified Public Accountants (1964). How to improve staff member motivation. New York: s.n.
Association of Chartered Certified Accountants (Great Britain) (2007). Performance management. Workingham, Berkshire: Kaplan Pub.
Thomas, K. W. (2009). Intrinsic motivation at work: What really drives employee engagement. San Francisco: Berrett-Koehler Publishers.
Weiss, T. B. (1997). Reengineering performance management: Breakthroughs in achieving strategy through people. Boca Raton, Fla: St. Lucie Press.