Flexible Work Arrangements
This term refers to the ability of employees to manage when, where, and how they work, often benefiting both employees and employers.
flexible working
This type of contract includes unwritten mutual expectations between an employer and an employee.
a psychological contract
This process involves continuously setting goals, providing feedback, and coaching employees to align with organizational objectives.
performance management
This type of reward system aligns employee incentives with their value to an organization, as defined by Armstrong.
strategic reward management
Introduced by John Atkinson in 1984, this model divides workers into core and peripheral groups to enhance organizational flexibility.
Flexible-Firm Model
This organizational behavior expert introduced the term "psychological contract" in 1960.
Chris Argyris
Unlike traditional performance appraisal, this approach integrates individual performance with business strategies.
strategic performance management
Name the five key rewards identified by Armstrong (2002).
achievement, recognition, responsibility, influence, and personal growth
A work arrangement where employees complete their required weekly hours in fewer days.
compressed workweek
Employers expect these three things from employees as part of the psychological contract.
loyalty, productivity, and adherence to company values
Name two major differences between performance management and performance appraisal.
continuous feedback vs. periodic evaluation, and goal setting vs. past performance review
This type of reward structure compensates employees based on profits, sometimes through employee share ownership schemes.
profit-related bonus schemes
Name two types of location flexibility available in flexible working arrangements.
remote work and home-based work
Employees typically expect these three things from employers as part of the psychological contract.
fairness, career development, and job security
This popular strategic framework measures company success based on customer satisfaction, financial performance, internal processes, and learning & growth.
the Balanced Scorecard Approach
In these three countries, pay incentives are significantly higher than in the USA and Australia.
China, Japan, and Taiwan
This type of flexibility allows employees to take extended leaves, such as sabbaticals, for personal growth or renewal.
flexibility in work continuity and time off
A breach of the psychological contract often results in this negative outcome, leading to decreased employee motivation and engagement.
a loss of trust or reduced organizational commitment
This performance management system introduced real-time dashboards and collaborative goal setting at a retail chain to enhance efficiency.
Strategic Performance Management System
Name three external factors influencing strategic reward management.
labor market conditions, cost of living, and legal requirements