PERFORMANCE MANAGEMENT
Introduction
Performance Management is a process which ensures the efficiency and
effectiveness of operational activities of an organization & its
individuals. Having an effective performance Management system drives the organization to reach its determined goals. Performance management system and
parameters are decided by the top management of the company or by the owners of
a company. Measuring performance help to improve the effectiveness and it
motivates individuals & groups.
Definitions
“A systematic Process for improving organizational performance by
developing individuals and teams (Armstrong, 201_)”
“Performance management is the key process through which work gets
done. It’s how organizations communicate expectations and drive behaviour to achieve
important goals (Pulakos, 2009)”
“Identifying, measuring and
developing the performance of individuals and teams and aligning performance
with the strategic goals of the organization (Aguinis, 2013)”
As defined above, performance
management consists of activities which direct for effective performance.
Identifying the lapses, measuring the risk and the required level of
improvement and throughout developing performance an organization can improve
the overall performance. When it comes to measuring and giving feedbacks improve employees level of skills. Moreover, the employees motivated to work more effectively. Effective outputs give self-satisfaction and then it improves again performance. This works as a cycle and finally, it helps to achieve organizational goals.
Apple Inc.s management communicates its organizational goals immediately to employees after setting up. These goals are discussed jointly with line management & with individuals & take necessary steps to achieve such goals. Individuals are measured based on these goals agreed on & initiated. Later they are been informed about their contribution. Apple Inc.gives formal opportunity of counselling, motivation, salary review etc. Apple Inc.s performance management is an ongoing process which has feedback for both appraiser & appraised. Staff members are assessed based in terms of objectives, tasks & results achieved based on pre-determined goals planned & agreed jointly by individuals & their line managers.
Source: www.Google.com
The Easten Bank PLC is a leading bank in the island which has its own performance management systems. KPIs have given for the executives & none executives are being appraised using annual performance appraisals. Both technics are included predetermined goals and parameters. Individuals performances appraisals are recommended by immediate executives and approved by the line managers. Based on the demonstrated performance individuals receive their grades. Upon the grades received, individuals get their increments, bonuses & most importantly the recognition for the next performance. The Eastern Bank PLCs performance has contributed a lot to its success.
Conclusion
Performance management is a vital and crucial process which contribute a lot to an organization to reach its goals. Globally & Locally this tool uses to improve the performance of organizations and their individuals. Following a suitable performance management system guide an organization to success.
Reference
source: www.youtube.com
Source: www.Google.com
The Easten Bank PLC is a leading bank in the island which has its own performance management systems. KPIs have given for the executives & none executives are being appraised using annual performance appraisals. Both technics are included predetermined goals and parameters. Individuals performances appraisals are recommended by immediate executives and approved by the line managers. Based on the demonstrated performance individuals receive their grades. Upon the grades received, individuals get their increments, bonuses & most importantly the recognition for the next performance. The Eastern Bank PLCs performance has contributed a lot to its success.
Conclusion
Performance management is a vital and crucial process which contribute a lot to an organization to reach its goals. Globally & Locally this tool uses to improve the performance of organizations and their individuals. Following a suitable performance management system guide an organization to success.
Reference
Amstrong, M.,
2012. Amostrong's Handbook of Human Resource Managment. 13th ed.
London: Korganpage.
Armstrong,
M., 2014. A Hand Book of Human Resource Management Practice. 10th ed.
London: Kogan Page.
linkedin,
2019. [Online].
O'Kane,
P., 2019. Performance Management. Reaserch Gate.
Youtube,
2020. [Online].
www.Google.com., 2020. [Online].
Author has taken a good effort on writing this article.
ReplyDeletePerformance management is a tricky affair for every organization; the idea of assessing someone else’s performance can always be stressful and difficult. As much as it helps an organization sail towards the future, it can bring chaos and troubles, if not taken enough care of.
The mangers and the organization at large must understand the importance of performance appraisal in an organization so that they can leverage the same. At the same time, the disadvantages also must be carefully analyzed, so the effective measures can be taken to improve the efficiency of the same.
Advantages of Performance Management:
Performance based interactions
It aims at employee development
It facilitates employee rewards and recognitions
It appreciates deserving employees
It helps the organization understand the performance and development history of the employees
Disadvantages of Performance Management:
The entire process of performance management is complex and lengthy
The mismanagement of the process can hinder employee growth
Favoritism and partialities
Lack of expert appraisal staffs
Thank you very much Jayasrini
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