What is performance management, what are the options for implementing performance management, and why is it important?
Performance management is the process whereby supervisors or managers work in tandem with the workforce or their subordinates in monitoring, reviewing, and planning the objectives of their subordinates or employees and ensuring that they are in accordance with the goals of the company (Aguinis, 2009). Various processes are put in place to ensure that the workers are working towards meeting their specific goals and the goals of the company in general. Evaluation and feedback are some of the tools used in ensuring that the performance of employees assessed and to determine the various methods that can be used to boost the performance of the employees and, thus make sure that they are performing optimally for the benefit of the company. Performance management, therefore, aims to look at the individual performance of a person to make sure that it is in line in meeting the objectives of the company.
The options for implementing performance management when the organization is suffering from reduced output due to low productivity among the employees. Another option is coming up with localized performance management systems in the organization. Employees in the organization will, therefore, be gauged on a relevant performance management system that is made in accordance with objectives of the organization. Such a performance management system has mechanisms that are associated with the strategic goals of the organization (Farndale et al., 2011).
Implementing the in and out system is another option for the company to carry out to examine and assess the employee in how successful they think will be in their current positions or job title. As such, the employees will be rated on their qualifications on their competency on how they will do their job and those who will not be able to cope with the job will allow seeking employment elsewhere. Performance evaluation is another form of implementing performance management in the organization and can be used to assess and find out if the various mechanisms applied to help employees improve on their tasks are effective (White, 2009).