Performance Management Issues Assignment Instructions
You have been asked to return to your alma mater and speak to current students about performance management issues. To make the most of this experience for yourself and the students, write a 3-5 page paper that details the following:
- the concept of performance management;
- the most prominent types of performance management plans;
- its impact on the employee and the organization;
- the relationship between performance management and compensation;
- and factors that should be considered when successfully implementing performance management within an organization.
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Performance Management Issues Assignment Sample Answer
The purpose of this paper is to explain the benefits of performance management in an organization. Performance management is a continuous process of communication between the management and the non-management teams, in an organization to plan, monitor and review an employee’s work objectives or goals and their overall contribution to the organization. The process includes clarifying expectations, setting objectives, identifying goals, providing feedback and reviewing results. The main goal of performance management is to promote and improve employee effectiveness (Egal, 2014). In summary, performance management is the process of identifying, measuring, managing and developing the performance of the human resources in an organization.
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Performance management plan establishes the procedure for the collection of specific information that will be used to assess a program or project progress and guide decision making. Quality standards of performance management planning should be followed when writing a plan since they are universal despite the differences in the types of the projects. Performance management can be done in different methods according to the nature and type of business in an organization. The most prominent type is performance appraisal, which is a continuous process of evaluating employee performances. It includes listening, observing, giving constructive feedback and providing recognition to the employees. The constructive feedback should be able to show what the employee has learnt, the strengths and weaknesses’, and what they need to learn more to improve their skills. The other method is pay-for- performance compensation, a strategy in which employees are rewarded according to their performances and overall contribution towards the performances of the company (Price, 2011). This serves to line up the employees with their goals and objectives of the company while at the same time motivating and rewarding top performers and continuing to develop the underperformers to become resourceful to the organization. Other methods include training and development, strategic planning, job analysis and design, compensation and employee relations.
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The performance management plans have positive impact to both the employees and the organization. For example, the pay for performance structures benefits both individual employee and the working environment and performance of the all teams. This will encourage employees to work together to reach the common goal of the company and in the long run adds up to increased productivity and better profits to the company (Bacal, 2011). Performance appraisal process is not only an important factor in the employee’s growth, but also in the health of the entire company since the employees have a greater sense of loyalty to companies that develop their talent and thus are more motivated to concentrate in their work. The company will also be able to create a group of talents for strategic succession planning by use of these performance management plans.
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According to Egal (2014), good compensation package can be a powerful tool for reinforcing organizational values and for creating desirable changes in personal behavior or the organizational culture, and so do the performance management. But since the performance of each employee varies, most organizations have developed ways of compensating employees per their performance and contributions to the company. It is therefore evident that, both performance and compensation are very important in the growth or failure of an organization. Performance management plays a fundamental role in the human resource framework of any organization, like managing both individual and team performances. Similarly, compensation in the form of salary increments and bonuses can be linked to achievement of goals that benefit the company.
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In order for an organization to successfully implement performance management program, there are factors that have to be considered. The first is the use of quality improvement model of performance management. This model emphasizes on the improvement of the organization to achieve the desired goals and objectives. The second is identifying the organizations interests and involving all the stakeholders including the staff in the implementation of performance management to address the company’s interests. Enhancing organizational capacity at the beginning of performance management process will also enable successful implementation (Aguinis, 2012). This involves creating of internal policies that support the performance measures, commitment of resources for collecting and evaluating performance measures and allowing staff with the relevant technical knowledge to conduct and implement the performance measurement methods.
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It is also important to ensure that the organization’s top management is committed in ensuring that that is wholly and simple implementation of the performance management, by ensuring that all the resources needed are readily available. It is important for an organization to have good human resource management practices in place before embarking in any performance management process. These human resource practices include the availability of a positive and supportive work environment, a good comprehensive employee orientation and training, effective supervision to all the employees and well designed and written job descriptions to each employee (Price, 2011).
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In conclusion, it is important to note that performance management is necessary in every organization in for the company to remain competitive. It should be done by involving all the stakeholders including the staff in order for it to be successful and meaningful to the organization and employees.
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