Performance Management

Performance management is a key driver in enhancing organizational success. Employees are required to understand their expected contribution to business objectives and be motivated and equipped with the skills, resources, and support to achieve this. In the recent past, good performance management processes revealed in ongoing conversations on progress towards objectives. Though the measuring tools differ, people managers at all levels should reinforce the organizational purpose and link objectives at the department and individual levels by help supporting both employees and the organization, through a unique performance management system.

Performance Management is a process of both strategic and integrated approaches to delivering successful results in organizations by improving the performance and developing the capabilities of teams and individuals (Armstrong, 2009).  

Performance Management Cycle

Source: https://images.app.goo.gl/fXUfDbQn9GwvP7NJ7

Why Performance Management important

The overall objective of performance management is to develop the capacity of people to meet and exceed expectations and to achieve their full potential to the benefit of themselves and the organization. Performance management provides the basis for self-development but importantly, it is also about ensuring that the support and guidance people need to develop and improve are readily available. When employees fail in their jobs, part of the organization also fails. Performance management's target is to eliminate or at least significantly reduce this possibility (Cappelli, 2008).

Source: https://images.app.goo.gl/M7FgyYVsqUoJKFRk7

Global trends in Performance Management

Many employers today take continuous efforts to the performance management system. For example, at Toyota Motors Lexington, Kentucky, Camry plant, the supervisors don not sit with individual employees to fill out forms and appraise them. Instead of it, teams of employees monitor their results, even posting individual daily performance

Source: YouTube - Changing trends in performance management 

Performance Management in ABC Bank

Employees are given realistic targets which include in their key performance indicators based on that and closely monitoring the behavior of employees in the process. Identifying the training and development needs and the job role of employees is also recognized by the process. Employees are rewarded financially and developed personally on their performances.

Conclusion

By carrying out performance management properly, people can be rewarded by recognition through feedback, providing opportunities to achieve, identifying the scope to improve skills, and direction on a career path. The real aim of setting objectives is for people to know exactly what it is they have to do when they have done it, that they can do it, why they have to do it and that it is something they should be doing, and how they are progressing along the way

 Post Author : Sameera Galagoda

REFERENCES

Armstrong, M. (2009) Armstrong's Handbook of Human Resource Management Practice r HR. 11th ed. UK: Kogan Page.

Aguinis, H (2005) Performance Management, Upper Saddle River NJ, Pearson Education

Cappelli, P (2008) Talent on Demand: Managing talent in an uncertain age, Boston, MA, Harvard Business School Press

Changing trends in performance management. (2017). YouTube. Available at: https://www.youtube.com/watch?v=PfXEceZzND0.