|
|
Performance management system and motivation
Petera, Petr ; Fibírová, Jana (advisor) ; Wagner, Jaroslav (referee) ; Havlíček, Karel (referee)
The positive impact of performance measurement and management (in connection with rewards) on motivation of workforce have been questioned in recent years and decades. The conceptual part of the thesis strives to identify whether the above mentioned criticisms of discussed systems is based on their inherent properties (characteristics) or on properties (characteristics) of their specific implementations. Extensive multidisciplinary literature review (especially from the fields of accounting, performance measurement, financial management, microeconomics, labor economics, behavioral economics and psychology) showed that the performance measurement and management systems (including linkages to remuneration) have the potential to positively impact motivation, work effort and performance of workforce. Refusing this potential, which often occurs especially in relation to remuneration, is based on specific applications, and it must be dismissed as simplistic. The literature review also helped identify the factors and characteristics of the discussed systems, which are crucial for their positive motivational effect, as well as properties that are usually undesirable in terms of motivation. Another significant outcome of the conceptually oriented part of the thesis is a model framework enabling detailed analysis of rewarding for performance. The thesis also describes and discusses the results of two empirical surveys, the first of which was focused on the analysis of performance measurement and management system and remuneration system, and the second survey was primarily focused on detailed analysis of the system of remuneration and motivation of workforce. Regarding performance measurement, as positive can be perceived the fact that strategic performance measurement systems of the balanced scorecard type are intensively used, including the search for causal links between measures and efforts to link these systems to the remuneration of workforce. It should be noted however, that the issue of interconnection of balanced scorecard systems with remuneration of workforce is by respondents considered to be one of the biggest problems of balanced scorecard implementation. Therefore is identified an area where further research is needed, particularly in the form of case-study based research. All respondents indicated the use of budgets to fulfill many functions (e.g. tool for financial management in terms of coordination and verification of planned business objectives and early risk detection, tool for setting of targets of the business as a whole, and tool for internal motivation and management) and it is possible to conclude that there is no abandonment of budgets (as sometimes implied by "beyond budgeting"). A surprising finding was little use of new performance measures, especially economic value added (as top financial measures were usually referred EBITDA and EBIT). The results of both surveys showed that respondents seek to implement quality systems of remuneration, but revealed were also some problematic features of these systems. Particularly important is the fact that rewards for long-term performance are relatively little used, which can lead to short-term oriented decision making of managers. This problem is exacerbated by the fact that rewards are usually awarded in the form of money; the use of equity-based rewards (e.g. shares) is very low. Furthermore, insufficient is also utilization of rewards in the form of work-life balance programs and utilization of rewards in the form of appreciation.
|
|
|
Performance measurement and management of ThyssenKrupp Výtahy, s.r.o.
Hubová, Jana ; Vávrová, Hana (advisor) ; Brabec, Martin (referee)
This master thesis focuses on checking the status of performance measurement and management of ThyssenKrupp Výtahy, s.r.o. and on implementation of financial analysis for years 2007-2012. The first part is concentrated mainly on the current state of performance measurement and management and introduction of IT background including introduction of the reporting system and their use in performance management. The second part is dedicated to the financial analysis to find the weaknesses in performance management using vertical and horizontal analysis of financial statements, ratio indicators, credibility and bankruptcy models, EVA indicator and a comparison with the sector average, and to summarize the results and to provide recommendations.
|
guest ::
