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Organisation’s Reward Strategy and Performance Management System

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Submitted By suixtantan
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1.0 Introduction
Singapore Airlines (SIA) was founded in 1972 as a regional airline. Today, the airline company is one of the respected name amongst other worldwide travel brands. In the 1940s, SIA was known as Malayan Airways Limited (MAL) and it was on 1st May, 1947 that an Airspeed Consul took off from the Singapore Kallang Airport on its first voyage to one of the three destination scheduled namely Kuala Lumpur, Ipoh and Penang. Over the years, new and larger capacity aircraft were joining the existing fleet. In 1963, MAL was then known as Malaysian Airways Limited and later on, as Malaysia-Singapore Airlines (MSA) in 1966. The airline company scored a revenue of
S$100 million back in 1968. In 1970s, two entities known as SIA and Malaysian Airline system emerged from the split of MSA, and ever since then, SIA experienced growth as the company focuses on its operations. According to World Airline Awards (2014), Singapore Airlines is ranked third in the global airline ranking. The airline has earned an outstanding reputation with its high quality service provided to their customers, thus further strengthen the airline’s premier position in the tight competitive market.

2.0 Review of the Organisation’s Reward Strategy and Performance Management System
2.1 Performance Appraisal System
In the effort to evaluate the quality of employees’ performance relative to the standards of the company, Towards Optimal Productivity (TOP) is a scheme launched by SIA together with
Singapore Airlines Staff Union (SIASU) to recognize and rewards good performance through its performance-based culture framework for Singapore based employees (Singapore Air, 2013).
Rewards such as promotions, merit awards and career growth are part of a further improved and extensive appraisal system carried out by TOP. Workplace Improvement and Innovation Scheme
(WINS) is

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