1. Performance management definition
Performance management has gained much more significance over the past few years
than earlier times. The idea that we get when we read the words performance
management is that it is simply managing performance. However, there is more to
these words than what meets our eyes. In order to understand the meaning of
performance management completely, we need to comprehend the fact that it is
actually divided into two basic categories.
Assume John to be a performance management analyst, whose job is to ensure that
goals are consistently being met in an effective and efficient manner. John can either
view the performance of the company as a whole (a separate entity), examining the
performance of the heads and managers of the company towards reaching their goals
or he can monitor the employees at a basic level evaluating how and whether they
reach the goals set up by the senior management eventually benefiting the company.
If John is to monitor and evaluate employees at an individual level, he has to
incorporate planning, setting goals, offering feedback and reviews, presenting
employees with opportunities to learn more about their particular field and finally
rewarding them or punishing them as per their performance, into his job description.
These activities will be his plan of action; they define his current career at this
company. In order to carry out performance management successfully, the goals and
targets have to be clearly defined.
Consistency in definition of goal is mandatory. Else, the employees will not know
what to focus on. For proper execution of performance management, the manager
must develop a communication system that is open and effective. Communication
plays a major role and is often the key to success for many firms.
The employees should be well aware of any benefits or rewards they might get when
performing up to the standards, simultaneously they should also be warned of the
consequences that they would be liable to face if they don't perform as per the
requirements. There should be effective communication between employees and the
administration department. Organisations can successfully word if they follow open
communication systems.
Performance management also involves giving feedback to employees more than they
get annually. With the help of frequent feedbacks, the employees will be able to
portray in their minds where they stand and how hard they need to work to reach up to
the standard goals.
Employees can alter their behaviour as per the required targets and informing them
about this will only help to achieve goals faster. Performance management also
requires identifying any need affiliated to employee training. Once identified, it is
advisable to give the employees any possibility to grow, for example send them
abroad for training or arranging in-house training programs so that the employees can
learn more, and benefit the organisation.
2. There can be many ways to manage performance of employees; one of them is via
performance appraisals. Many companies use performance appraisals to evaluate
employee performance in terms of quality, quantity, time, and cost. This method has
been found successful by many firms.
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performance appraisal.
