A NEW APPROACH TO PERFORMANCE AND COMPENSATION & BENEFITS MANAGEMENT: HR-TRK METHOD

Abstract

Today, the Human Resources Departments have become strategic departments, often referred to as strategic partners, for companies. The Human Resources Departments include performance and compensation & benefits management practices, which have many field effects, from recruitment to employee motivation, as well as recruitment processes. In this study, it is aimed to investigate the effects of corporate firms' competence based performance evaluation and management by objectives (MBO) performance evaluation systems as a new intuitive procedure proposal under application, limited and specific budget such as job analysis, job evaluation, performance and C&B management. HR-TRK method developed based on the effect of scores on person, wage amount, payment time parameters is presented. When the proposed procedure is being developed, it is foreseen that the data for the annual achievement scores of the persons are provided at a range of 0-1 and the data for the competency-based assessment scores are provided at the range of 60-100. Normalization procedures have been developed and stabilized for systems that tend to exceed the limits by keeping the Max and Min payout limits fixed at 2.0-0.5. The transition to field application can also be applied to cover the whole organizational chart. It aims at assignments where the wages they receive with a system that will increase the performance of the employees in the budget distribution are also optimized. The procedure developed with the view to contribute to compensation & benefits, talent acquisition and all strategic human resource management practices has been formulated and tested with different test problems and the results are discussed.