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Topic : Assessing Leaders: the roles of Performance Management and Compensation in fostering leaders expectations.

Provide pros and cons from your own current organization

This is to be answered as your own knowledge in this matter and your own organization or company you work for ( hopefully business or accounting)

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Answer 1

Assessing Leaders: the roles of Performance Management and Compensation in fostering leaders expectations.

Both the performance management and compensation has role into fostering leaders expectation, as leader usually works on setting vision or long term goal for an organization, however, there must be criteria to evaluate the performance of the leaders in an organization, so, organization can go ahead much with focusing on its strategic objective, some of the criteria as stated below:

Leadership attributes: every leader should be assessed based on their personality traits and their approach for managing team people and work, it is also necessary to evaluate the Emotional intelligence, communication skills, and how they are managing the stressful situation in a company, all such attribute may be hard to define, and need long subjective analysis, a checklist should be prepared and performance of the leaders can be evaluated over time,

Skills:

Leaders should have good skills on decision making, problem solving and planning for the applicable work and team members, the leaders should be knowledgeable about the situation and good to have better academic and practical exposure, further, to manage the complex situation, they should know about how to work on problem solving skills and managing applicable conflict,

The leadership style:

The leadership style has great impact on team members and organization. As leadership style could be transformational, transactional, charismatic, laissez – faire, democratic etc, every leadership style has its own importance,

Result orientation:

Every leader should be result orientated and should know about the outcome for a activity or plan, they should have strong visionary approach and their leadership activity should not violate any policies, procedures and values of company, thus, we should be promoting better organizational culture within the company and apply various strategy like rewards and recognition policy for team member could be helpful to extract performance from team members,

Leaders compensation should be set based on achieving the performance objective, further their relentless performance should be recognized on the public platform and social media, which has strong positive effect on the organizational objective and benefits management,

Provide pros and cons from your own current organization:

There are some pros and cons related to leadership or leaders from any organization, those are as stated below:

Pros: being a leader, we will always gain better respect from team members and organizational management,

Leaders can earn self respect as they work on fulfilling organizational objective and work towards setting visional target for the company,

Cons:

Leaders may have to work for long hours and sometimes compensation could be less than team members and they may have to take big risk to manage the team and fulfill the organizational objective,

Leaders may have to take more responsibility, as they need to handle with organizational strategic objective to team members and internal work as well as external factors those also can create impact on organization objective,