tenix marine[1][1]. performance and reward management policies_bhav
DESCRIPTION
Its a project on Performance and Reward Management giving good insight about the policy followed by Tenix Marine, an Australian company.TRANSCRIPT
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Performance & Reward Management For Tenix MarinePresented by
Punnoose Pachikara ( 648722x)Sachin Potdar (6482376)Bhavika Agnihotri (5784131)Karine Draschler (6466834)Verica Mitricevic (1546511)
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History Timeline
1956 - Transfield is founded by two Italian engineers, Carlo Salteri and Franco Belgiorno.
1987 - Transfield spreads its wings into defence.
November 1997 - Transfield splits into different sectors and is re named Tenix defence.
1998 - Tenix continues to expand with Hawker de Havilland (an aero structure manufacturer) and Enetech (a leading engineering and maintenance contractor).
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June 2000 - Tenix purchases Vision Systems defence business, Vision Abell and LADS Corporation
2001 - Tenix sold Hawker de Havilland to Boeing and the Enetch division is renamed Tenix Alliance.
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Under the Tenix name there are 11 divisions
.Tenix Defence.Tenix Alliance.Tenix Datagate.Tenix Projects.Tenix LADS Corporation.Tenix Investments.Tenix Aviation.Tenix Solutions.Tenix Information Security.Tenix In New ZealandTenix Affiliate
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Vision
To be the pre-eminent Australian provider of high-technology and engineering solutions in the defence and commercial markets in their region and beyond.
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Values
Safety & The EnvironmentIntegrityTeamworkLeadershipInnovation & ImprovementTenacity
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Remuneration Range
Minimum- 80% of mid pointMidpoint Maximum- 120 % of mid point
New recruits - between mid point and minimum
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Total Remuneration Package (TRP)
Base Salary Superannuation
Higher ManagementMobile phonesVisa cards
Changes applicable with promotion
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Remuneration & Benefits
Purpose Comply with Industrial AwardsCompetitive with other comparable organizations
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Superannuation
Legal requirement
Standard 9 %
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Non financial Benefits
Fitness One Corporate membershipOptus Corporate Memberships
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Performance Management Framework and Structure Comprehensive Performance Management Policy Structure - Found on the company Intranet site - Under Human Resources; Performance icons This intranet page provides information on the following topics: -Performance Management-Learning and Development-Internal Training -Development-Australian Defence Force (relevant to industry sector)
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Performance Management Policy Simply, easy to read (4) Page Document Purpose: The performance of each employee affects the ongoing success of Tenix. This policy is designed as an effective approach to performance appraisal that provides the linkage between the work of employees and the achievement of organisational goals
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LayOut of Performance Management Policy Document
PurposeScope References Business Policy: 1. Performance Review - Position Description - Performance Plan - Professional Development and Career Plans - Regular Performance Appraisal Business Procedure: 2. Review Procedures - Timing - Preparation - Review - Discussion - Completion - Performance Problems - Employee Counselling
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Performance Appraisals: User friendly easy to follow on-line tools - Separate instructions for Managers & Employees Easy to follow step-by-step guidelines Appraisals = Employees/Manager Ratings: O = Outstanding S = Superior FE = Fully Effective MR = Meets Requirements U = Unsatisfactory
Comments by Manager; Employee; Discussion; Plan; Timelines are agreed upon
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Recognition and RewardsBackground and PurposePracticing Core Values, implementing strategies that emphasise these ValuesCommitted to recognise excellence in Performance
Scope of the RewardsAll Employees except the consultants and contractors.
Styles of RecognitionRewarding is not enough but rewarding at the right time with the right spirit is what makes it effective and desirable.
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RecognitionOutstanding Performance
Outstanding Performance is anything that has arisen a specific achievement or significant contribution by an individuals or team that has beneficial impact on Tenix business. advances business goalsan exceptionally effective and cooperative way demonstrating superior interaction across Tenix and/or its clientsdemonstrate a sustained commitment to Tenixserve as a role model for others
Long Service Recognition
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RecognitionOutstanding Performance
Level 1: On-the-spot RecognitionLevel 2: GM RecognitionLevel 3: Executive GM RecognitionLevel 4: Chairman Recognition
Long Service
5 years10 Years and so on
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Recommendations
Evaluation of their strategic communication and relationship building policies
Use of informal feedback, diagnosis of any issues and action planning to be encouraged
Include a career management cycle in the performance management policy
Performance management policies need to be updated on the intranet .
Flexibility to choose a bouquet of benefits in the TRPChild support centres and in house health club
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Thank You