Management The mandate to operate at an optimal performance level and meet financial and organizational expectations are transforming the way organizations do business. This evolution is driving higher standards of competence in day-to-day operations and adding new pressure to increase stakeholder value. Performance management focuses on understanding, optimizing, and aligning action and decisions and ensuring the collaboration and empowerment of all individuals across the business network. It includes practices and methods for goal setting, performance appraisal, coaching, employee development and reward systems.
Get Full Essay Get access to this section to get all help you need with your essay and educational issues. Understanding Performance Management Essay Sample Introduction In my opinion, it is people that make businesses more successful.
It is people that gives some companies that competitive edge. Good people, who perform well, are the most valuable asset a business can have.
Even when their competitors offer the same, or similar, products. Customers are not only looking for products, and the competitive pricing, they are looking for the overall experience of doing business with a company. And, it is employees that make that difference.
Employees can give a company that distinctive edge, that unique selling point, that sets them apart from their competitors. Performance management is the best method to nurture employees talents and motivation into a companies competitive advantage.
Performance management is a process for continually identifying, measuring and developing employees by combining their individual performance, and objectives, to the overall business objectives and goals. Performance management is extremely important to all companies, no matter on their size or their industry.
It is imperative to appreciate that performance management is all about employees and can, therefore, be quite complex.
Possibly even more complex, is managing poor performance and this is where a line managers interpersonal skills are vital, coupled with sensitivity and caution. Good performance management should motivate employees by allowing them to develop and feel recognised for their efforts and achievements.
It should also be seen as positive approach for coaching, empowerment, goal setting and feedback. To achieve a successful performance management tool it must satisfy the needs of the business and the employees. Understand the value of assessing performance to meet organisational and individual needs 1.
It also provides an opportunity to reflect on performance during the previous time since the last assessment. Formal performance assessments, when carried out correctly, will aid in motivating the employee by allowing them to express their concerns, making them feel an important part in the business.
The value of performance assessment is the ability to identify any training and development needs of the employee.
Allowing a formal agreement from both parties. An informal performance assessment is no less important than the formal performance assessment. These can be carried out on as as and when basis.
Also, they will emphasise the businesses commitment to continuous, and open, communication. By having, and promoting, open communication will allow the employee the opportunity voice any concerns they may have with their line manager.Understanding Performance Management Terry Delaney Contents Introduction Page 3 1.
Understand the value of assessing performance to meet organisational and individual needs Describe the value of formal and informal performance assessment in the workplace Page 4 Explain the role of the first line manager in performance management Page 4 2.
Performance management focuses on understanding, optimizing, and aligning action and decisions and ensuring the collaboration and empowerment of all individuals across the business network.
It includes practices and methods for goal setting, performance appraisal, . According to Armstrong () performance management can be defined as a strategic and integrated approach to delivering sustained success to businesses, in this instance public services, by improving the performance of the employees by developing the capabilities of team.
Performance management can be used as a tool to motivate employees and make them feel satisfied. If there are no communications between managers and employees throughout the year, the system will not work.
Performance management, by definition, is a continuous process. Performance management is designed to enhance this personal responsibility.
It implies that you are not responsible for the work of others that is important to the organization. It focusing on individual responsibility reduces an employee’s responsibility to the organization and .
The performance management program of a university, employees and managers set expectations, prepare work plans and development schemes at the beginning of the academic year. Key responsibilities, expectations and the criteria and standards for .