Performance management is used as an indicator to support decisions related to strategic planning, succession planning, training and career development, compensation and benefits, promotion, transfers or even termination of employment. This ensures the employees are received with a specific performance target and monitor whether it is being achieved as expected.
- Factors which helps for a better performance management-
- Clear job descriptions.
- Recruit potential employees and select the best among the market.
- Hold multiple additional meetings, as needed, to get to know your candidates' strengths, weaknesses, and abilities to contribute what you need. Use potential employee testing and assignments where they make sense for the position that you are filling.
- Select candidates using a comprehensive selection process.
- Provide effective new employee orientation and integrate new employee into the organization and its culture.
- Provide ongoing education and training when needed. “It is about individual attention that caters to an employee’s needs, allowing them to significantly improve their skills and aptitudes and consequently increase their performance” (Clapon, 2014).
- Provide on-going feedback.
- Differentiating compensation is required so that “employee pay is meaningfully different across levels of performance and results confirm that this practice links closely with outperformance” (Chowdhury et al., 2018).
- Design effective compensation and recognition systems that reward people for their ongoing contributions.
- Provide promotional / career development opportunities including transfers and lateral moves.
Many companies are nowadays changing techniques of performance management for the better. Such change was done by General Electric by converting their once a year review process into a motivating way to guide employees. “GE managers and employees still meet once a year, but it is now a meeting with true purpose and employees future goals: to help with regular feedback the innovation giant is launching its own in-house performance app to help facilitate everyday regular feedback” (Heller, 2017).
References-
Chowdhury, et al., (2018). Harnessing the power of performance management. [online] McKinsey & Company. Available at: https://www.mckinsey.com/business-functions/organization/our-insights/harnessing-the-power-of-performance-management [Accessed 4 Jun. 2019].
Clapon, P. (2014). 10 Must-dos to manage day-to-day employee performance. [online] Hppy. Available at: https://gethppy.com/employee-engagement/10-must-dos-manage-day-day-employee-performance [Accessed 4 Jun. 2019].
Heller, M. (2017). 6 Effective Performance Review Examples from the Best Companies | Blog. [online] iRevü. Available at: https://irevu.me/blog/6-effective-performance-review-examples-best-companies/ [Accessed 4 Jun. 2019].
Susan, H. (2020) .Performance Management . Available at:
https://www.thebalancecareers.com/performance-management-1918226#components-of-a-performance-management-system
when we look in to the PM cycle in employees evaluation we could clearly find below Plan, Manage, Review, Reward the Renew. Basically its a continuous process in identifying, measuring, and developing the performance of individuals.
ReplyDeleteBest explanation on important human resources element .
ReplyDeletePerformance Management Helps to Boost Employee Engagement and Productivity. Engaged employees stay longer, actively involve themselves in the workplace and produce better results. Improving levels of employee engagement is key to boosting productivity and maximising ROI.
Performance management is a communications process which is planing to achieve organization goals. PM is setting individual goals and team goals also enhance employee competency.
ReplyDeleteProper description on the topic. Thanks
All the organizations or companies depend on the performances while each and every members contribution matters in a large level. Managing performances need to be focused by HR department of the organization and make use of performances management can be identified as a crucial matter.
ReplyDeleteEmployee performances should be managed from the day an employee joins an organization. He should be given with long term and short term goals and be periodically evaluated, obtain feedback and provide necessary coaching.
ReplyDeletePerformance management can focus on the performance of an organization, a department, an employee, or the processes in place to manage particular tasks. However employee performance evaluation helps to encourage them a lot
ReplyDeleteThe heart of every company is the workers. Employee collaboration should not be replaced with anything else for any company to run efficiently and without any disruption. It is of critical importance that an organization's workers not only have a successful relationship with top management, but also have a safe and professional relationship with their colleagues.
ReplyDeleteManaging employee performance is one of the motivation tool as well. According to your statement that clearly understood how important to the org...
ReplyDeletePerformance management is important to improve organizational performance by improving competencies of the team.
ReplyDeleteIdentifying & improving the employee performance will enhance the employee performance & the company performance as a whole.
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