Performance Appraisal and Employee Reward Review for Internal Staff

Throughout this project the results of multiple employee interviews and internal Company X data have been critiqued and analysed in order to assess the scale of the low morale and low staff retention issues within Internal Firm Services (IFS) at Company X. Various performance management Subject Matter Experts (SME) and external non-client facing employees have also been interviewed to give further insight into the complexities and varieties of alternative performance management practices. Several employee reward management literatures including the work of the Chartered Institute of Personnel and Development (CIPD) have been analysed in order to assess the structure and effectiveness of the current performance appraisal system but also to investigate alternative systems that could help to increase morale and retention of Company X’s IFS staff. The methodology isolates several issues that require further attention including low morale the use of different performance appraisals systems improving levels of communication differentiating performance appraisals for different types of staff and finally how to improve staff turnover.