HRM Policy on Performance Management for Tencent Group

Need help with assignments?

Our qualified writers can create original, plagiarism-free papers in any format you choose (APA, MLA, Harvard, Chicago, etc.)

Order from us for quality, customized work in due time of your choice.

Click Here To Order Now

HRM Policy on Performance Management for Tencent Group

PART 1: Policy Analysis

1. Internal & External issues analysis

A corporation that is at the forefront of technological advancement and the internet is Tencent. It develops cutting-edge goods and services with the intention of enhancing the quality of life for people in every region of the globe (Melnik, 2019). Tencent is not only a developer but also a publisher of some of the most well-known video games and other forms of high-quality digital content. This gives consumers all over the globe access to a wider variety of interactive entertainment options. In addition, Tencent offers its customers a variety of services that may assist them in expanding their operations and making the transition to digital platforms. Cloud computing, advertising, financial technology, and other commercial services are examples of some of these offerings. User value is the most important and fundamental guiding principle for the Tencent Group, and the company strives to incorporate social responsibility into its goods and services, encourage technological advancement and cultural vitality, assist in the modernization of industries, and collaborate with others to ensure the sustainability of communities (Melnik, 2019). Tencent places a significant emphasis on the role that human resources play in establishing, sustaining, and evolving the company’s established norms and values. Pay policies, performance management, gender issues, diversity, training and development, recruiting and onboarding, and reiterating the company’s basic values are some of the responsibilities that fall within the purview of HR.

Organizational culture influences HR policy. Tencent’s organizational culture is built on clear, well-considered principles that help lead and steer people in the proper path while also providing assistance (Zhao & Lin, 2021). It’s a complex system comprised of widely held beliefs, attitudes, and assumptions. It regulates how employees conduct themselves while on the job. The psychological and social environment is distinct and quite diverse because of all of these underlying assumptions, beliefs, and values (Bauwens et al., 2019). Tencent is committed to the user-centered strategy it devised. The company’s whole operation is built on users and duties.

Tencent is also keen on maintaining organisational justice through the ethical treatment of employees as this is a major influence to HR policy. Organizational justice relates to how employees at Tencent perceive the fairness of their occupations. These impressions may be classified into one of four categories: interactional, procedural, informative, or distributive. People’s feelings about how fair the outcomes are are important to both procedural and distributive justice, but procedural justice is primarily concerned with how people feel about the methods that lead to the results. Informational justice is the third sort of justice, and it relates to the narrative presented about justice-related occurrences (Du et al., 2019). Finally, interpersonal justice refers to how individuals feel about how they are treated as well as how they treat others.

Tencent’s business model now includes corporate social responsibility more than ever before. CSR is a major contributor to organizational HR policy. The company believes that incorporating social and environmental concerns into its day-to-day operations would benefit society as a whole (Jiang & Gong, 2019). As a responsible Internet-based platform firm, Tencent is dedicated to exercising CSR and providing a good example. Tencent takes a proactive approach to CSR, which means it goes above and beyond what the law mandates in terms of business operations. This is done in order to actively promote long-term economic, social, and environmental growth, as well as to make a constructive and widespread contribution to society.

External factors such as the law, government policy, economic factors, and societal values and issues also affect HR policy (Schleicher et al., 2019). Tencent, a well-known Chinese corporation, is required to obey a set of standards not just in China but also in other nations where it does business. Any regulation that makes following the rule more costly for a corporation might harm its financial success. These laws might cover a wide range of topics, including internet information and data security, cyber security, intellectual property, gaming, online banking, and a variety of other topics. New restrictions may have an impact on other sectors as well. The firm has taken a variety of steps to ensure that it is abiding with the regulations. These include forming specialist teams that collaborate with outside experts to ensure that any new legal needs are satisfied.

2. High Priority Issues

For Tencent, the most pressing issues at the moment include organizational culture as a major determinant of HR policy and the external environment comprising of government policy, laws, and economic factors. Today, government policy on employee management and organizational culture has become stricter and more volatile. In the wake of COVID-19, organizational culture has been affected by government laws and policies. As a result, Tencent has had to change how it relates to its employees in order to conform to the demands of a changing work environment. performance management issues have emerged as the company transitions to working post-COVID.

3. Policy problem

Tencent’s organizational strategic goals are very clear. However, the company’s performance management policy is blurry in regard to its expectations from employees. Tencent needs a HR policy that better defines performance management and expectations on employees. This report intends to review and rewrite Tencent’s performance management HR policy. Performance management is supposed to be a continuous and ongoing process of communicating and clarifying job assignments, priorities, performance targets, and development plans in order to optimize an individual’s performance and fit with the company strategic goals (Fenech, Baguant, & Ivanov, 2019). However, Tencent is more focused on its end users within its user-focused approach. It also heavily regulates how employees relate and perform. The problem that needs to be amended relates to clarifying performance management and the expectations of the organization on the employees. The amendments are necessary as they will help to align the company’s internal goals with the performance of the employees, which Searle and Ball (2003) regard as useful. After all, there can be no innovation where employees are unclear about what the organization expects of them and the communication of the same to them (Selden & Sowa, 2011). Improving performance is the overarching goal of performance management, which is really just another name for communication. When employees carry out high-quality work that is in line with the goals of the company, performance levels rise. Individuals are more likely to do quality work when they are aware of what is expected of them (Burns & Zhiren, 2010), when they get constructive feedback, and when they have access to necessary resources.

PART 2: Policy Development

Performance Management HR Policy

1. Overview

In order for a performance management system to be effective, it is necessary for employees to have a complete understanding of the requirements placed on them, to receive feedback on how well they are performing in comparison to those requirements, to receive rewards based on their performance, to be informed about opportunities for growth, and to be given instructions on how to improve performance that does not meet expectations (Decramer, Smolders, & Vanderstraeten, 2013). With a complete performance management system, employees have a bigger say in the direction their careers go, and managers have a better way to discover, recognize, and reward people based on pre-determined criteria. Both parties benefit from the system. Employees also stand to profit when they are given a bigger say in the development of their professional lives.

2. Scope

The management, owners, employees, union members, and government entities should be aware of the current proposed policy.

3. Policy Statement

The Tencent Group works hard to create an atmosphere in which all staff members are aware of the effect their work has on the progress made toward achieving the organization’s objectives and are given the chance to continue their own professional development. Tencent may reach this objective in a number of ways, one of which is by instituting a robust program for performance-based management that culminates in an annual performance evaluation. As Tencent continually plans, monitors, assesses, and rewards performance, the performance management process must continue to operate in a consistent manner.

4. Contextual Factors

Competencies Definition

High Quality Decision-Making Capable of doing thorough and precise analyses of complex circumstances in order to arrive at effective judgments.

An effective Communicator Having the ability to communicate ideas in a way that is comprehensible, succinct, and productive, whether orally or in writing.

Interpersonal Relations Develops and maintains productive working connections with people, both inside and outside the company, in order to achieve organizational goals.

Job Knowledge Clearly illustrates the professional, operational, managerial, and/or technical expertise necessary to effectively carry out the duties of the position.

Able to Produce Results The completion of tasks and projects takes place reliably within the allotted amount of time and to the appropriate standard of both quality and quantity.

Service quality and Excellence Maintains a continuous focus on ways to enhance the quality of the service provided to customers while making their satisfaction the top priority.

5. Process

The Performance Management Process of the Tencent Group is a cycle that consists of the following four steps: planning, managing, assessing, and rewarding performance.

The whole performance management process begins and concludes with the planning phase. At this point in the process, every participant will be responsible for establishing their own personal goals and objectives for the duration of the performance. When workers have objectives that are SMART, they are more likely to put in a lot of effort to achieve those goals (specified, measurable, attainable, relevant, and time-based). This, in turn, leads to improved overall performance as well as increased output of work.

It is essential that the management and employee be in continual contact with one another while the managing phase of the performance management cycle is in progress (Kramar et al., 2013). Conversations, both official and informal, take place in order to keep both parties informed on the progress of the project in terms of whether or not it is reaching its objectives and measuring up to the standards that were set. As a result of these contacts, the manager has the opportunity to provide constructive criticism and instructional guidance at the appropriate times throughout the year. As a result of the fact that the performance cycle extends over a considerable amount of time, it is necessary for both the managers and the workers to maintain a record of the significant performance highlights and difficulties that arise at various points during the year. These notes will prove to be quite beneficial when it comes time to create the yearly assessment.

Following the conclusion of the evaluation process, the manager will have a meeting with the employee to discuss the individual’s overall performance for the year. The employee shouldn’t be shocked by the overall result of the annual review if SMART objectives were created (during the planning phase), and if there was ongoing communication and feedback (during the management phase).

When merit increments are made available, employees have the opportunity to get a boost to their yearly base income as a reward for going above and beyond what is required of them in their job when merit increments are made available. It is essential to keep in mind that performance increases should vary from one person to the next depending on how well they did overall, and in general, the workers who performed the best should get the largest reward in terms of the set policy on employee performance and merit recognition. This could be in the form of monetary benefits such as raises, bonuses, or financial rewards or recognition, and other forms of non-monetary benefits.

Procedure Description

The Appraisal Form Use company-approved form

Performance Planning Stage Completed beginning of each rating period

Job Functions Determined by an assessment of the employee’s position description

Performance Objectives Optional for all employees

Success Criteria Meets performance requirement ratings

Performance Characteristics HR will provide a list of suggested performance characteristics and definitions

6. Other related policies

Goals of Performance: Tencent will assist in defining what is expected of every person in their present position in respect to the overarching goals of the department and/or unit in which they work.

Objectives for Professional and/or Career Development: These objectives will define possibilities for professional development and/or career progression while the employee is still employed by the company.

7. Accountabilities and Contacts

Type of Policy: HR Performance Management

Effective Date: Jan 2023

Last Revised: May 2022

Review Date: May 27 2022

Policy Owner: Tencent Group HR

Contact Name:

Contact Title: Employee Relations/ Human Resource Management

8. Evaluation Measure

Tencent Should apply the 360-degree feedback approach. This strategy considers the feedback, views, and assessments of an employee’s performance from the individuals with whom the person interacts at work. Coworkers, employers, and even persons not affiliated with the company might be included. When analyzing data from many sources and attempting to decipher what it all means, you may see both positive and negative patterns and relationships. You could also discover areas where further measurements and reinforcements might be beneficial.

References

Bauwens, R., Audenaert, M., & Decramer, A. (2019). Fostering societal impact and job satisfaction: the role of performance management and leader–member exchange. Public Management Review, 21(10), 1486-1515.

Burns, J. P., & Zhiren, Z. (2010). Performance management in the government of the People’s Republic of China: Accountability and control in the implementation of public policy. OECD Journal on Budgeting, 10(2), 1-28.

Decramer, A., Smolders, C., & Vanderstraeten, A. (2013). Employee performance management culture and system features in higher education: relationship with employee performance management satisfaction. The International Journal of Human Resource Management, 24(2), 352-371.

Du, W. D., Wu, J., Liu, S., & Hackney, R. A. (2019). Effective organizational improvisation in information systems development: insights from the tencent messaging system development. Information & Management, 56(4), 614-624.

Fenech, R., Baguant, P., & Ivanov, D. (2019). The Changing Role Of Human Resource Management In An Era Of Digital Transformation. Journal of Management Information & Decision Sciences, 22(2).

Jiang, Z., & Gong, X. (2019). The research on humanresource development of tencent—The HR three pillar model. Journal of Human Resource and Sustainability Studies, 7(3), 462-474.

Kramar, R., Bartram, T., De Cieri, H., Gerhart, B., Noe, R. A., Hollenbeck, J., and Wright, P. (2013). Human Resource Management: Strategy, People, Performance. Sydney: McGraw-Hill Human Resource Management: Strategy, People, Performance. Sydney: McGraw-Hill, Chapter 10.

Melnik, J. (2019). China’s “National Champions” Alibaba, Tencent, and Huawei. Education About Asia, 24(2), 28-33.

Schleicher, D. J., Baumann, H. M., Sullivan, D. W., & Yim, J. (2019). Evaluating the effectiveness of performance management: A 30-year integrative conceptual review. Journal of Applied Psychology, 104(7), 851.

Searle, R. H., & Ball, K. S. (2003). Supporting innovation through HR policy: Evidence from the UK. Creativity and Innovation Management, 12(1), 50-62.

Selden, S., & Sowa, J. E. (2011). Performance management and appraisal in human service organizations: Management and staff perspectives. Public personnel management, 40(3), 251-264.

Zhao, Y., & Lin, Z. (2021). Umbrella platform of Tencent eSports industry in China. Journal of Cultural Economy, 14(1), 9-25.

Need help with assignments?

Our qualified writers can create original, plagiarism-free papers in any format you choose (APA, MLA, Harvard, Chicago, etc.)

Order from us for quality, customized work in due time of your choice.

Click Here To Order Now