Employee Performance Management
What is Performance Management?
Performance management is a corporate management technique that assists managers in monitoring and evaluating the performance of their staff. The purpose of performance management is to create an atmosphere in which people can perform to their full potential and deliver the highest-quality work in the most efficient and effective way possible. (TARDI, 2021)
Importance of Performance Management
Businesses require effective performance management. It assists them in aligning their workers, resources and systems to accomplish their strategic objectives through both formal and informal approaches. Further this helps to facilitate better working relationships, to provide a historical record of performance and to contribute to professional development by encouraging communication and providing useful feedback about job performance. (FourVision, 2020)
Performance Management Process
- Provide performance feedback to employees
- Payroll management / Salary administration
- Identifying individual strengths and weaknesses
- Acknowledging individual performance
- Identifying performance gaps and shortcomings
- Documenting personal decisions for future reference
- Assisting in identifying goals
- Making decisions career growth (Vertical progress and salary increments)
- Retention or termination of employees
- Evaluating goal achievements
What is evaluated in Performance Management?
- Core Values (Collaboration, Courage, Integrity, Ownership, Passion)
- Strategies, Actions and Tasks (These will vary from one organisation to another)
- Duties (Based on the job role)
- Competencies (Client Focus, Effective Communication, Leadership, Product Knowledge, Teamwork, Technical Expertise)
- Workplace Goals
- Development Goals (Training Programs)
- Measures (Key Performance Indicators)
- 360 Degree Peer Reviews
Characteristics of a good Performance Management System
Organisations must recognise that performance management systems with a variety of features and high price tags are not always effective. A performance management system will be effective if certain features are engineered together. Some of the key characteristics are listed below.
- Clear Appraisal Objectives
- Accurate, Valid and Reliable Data
- Well Defined Performance Criteria and Standards
- Economical and Less Time Consuming
- Post Appraisal Feedback and Interviews
- Cohesion between Organisational and Employee Needs
- Managers are Mentors
- Continues Feedback
- Measure What Matters
Role of Top Management, Line Managers, Employee and HR in Performance Management
References
Available at: https://www.investopedia.com/terms/p/performance-management.asp
[Accessed 23 March 2022]
AIHR (2016) What is Performance Management? A Full Guide [Online]
Available at: https://www.aihr.com/blog/what-is-performance-management/
As described in your article, proper performance evaluation of employees is a very important function of HRM. Performance evaluation provides employees recognition or rewards for their efforts and boosts employee morale and increases their job satisfaction. This will in turn increase productivity. Good work!
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DeletePerformance management system's effectiveness lies in increasing performance and fostering employee development and motivation. Alway having positive conversation between the manager and the employee is a good performance management. Well explained good luck
ReplyDeleteYes, It's always better to have positive conversations with employees and managers. Thank you for your feedback.
DeletePerformance Management helps to track employees' performance and explain whether or not they need extra support, can handle a higher-level training, or deserve a raise. So Performance Management is an important function under HRM and this article explain more on that. Good work.
ReplyDeleteChecking whether the employees need extra attention and training is very important. Thank you for your feedback.
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ReplyDeleteYes, I agree with your comment about performance management. Thank you for your feedback.
DeletePerformance management should serve as a link between human resource management and the overall contribution of the employee to the organization. Article clearly showcase the importance Performance management in HRM. Good luck.
ReplyDeleteThank you for the feedback.
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