MN7181-Peoples and Organization-

Effective  Performance Management process of the  organization-

What is Performance Management?

Performance management is a corporate management tool that helps managers monitor and evaluate employees' work. Performance management's goal is to create an environment where employee can perform to the best of their skills to produce the highest-quality work most efficiently and effectively. (Tardi, 2019)

The Performance Management Cycle

The performance management process or cycle is a series of five key steps. These steps are imperative, regardless of how often you review employee performance.(Lalwani,2020)

1. Planning

This stage entails setting employees’ goals and communicating these goals with them. While these goals should be reveal in the job description to attract quality candidates, they should be communicated once again when the candidate becomes a new hire. Depending on the performance management process in your company, you may want to assign a percentage to each of these goals to be able to evaluate their achievement.

2. Monitoring

In this phase, managers are required to monitor the staffs performance on the goal. This is where continuous performance management comes into the picture. With the right performance management software, you can track your teams performance in real-time and modify and correct course whenever required.

3. Developing

This phase includes using the data obtained during the monitoring phase to improve the performance of employees. It may require suggesting refresher courses, providing an assignment that helps them improve their knowledge and performance on the job, or altering the course of employee development to enhance performance or sustain excellence.

4. Rating

Each employees performance must be rated periodically and then at the time of the performance appraisal. Ratings are essential to identify the state of employee performance and implement changes accordingly. Both peers and managers can provide these ratings for 360-degree feedback.

5. Rewarding

Recognizing and rewarding good performance is essential to the performance management process, as well as an important part of employee engagement. You can do this with a simple thank you, social recognition, or a full-scale employee rewards program that regularly recognizes and rewards excellent performance in the organization.

Global Context

In the United States it is common for each employee’s performance over the previous six months or year to be documented and followed by a one-on-one meeting between the employee and their supervisor, at which time the employee will receive their rating and discuss expectations for the next rating cycle. In some cases employees are expected to complete a self-appraisal, which might be factored into their review, while in other cases feedback from peers and customers might be included as part of a 360-degree assessment of an individual’s performance.(Hasting, 2019)

Other countries are Korea, Germany and France use performance management processes that closely parallel those used in the United States. 

Conclusions

Performance management is a communication process which is  planning to achieve the organization goals reviewing and assessing process. it also improving performance by setting individual and team goals, and developing the competency of the employees.

References 

Armstrong, M. and Baron, A., 1998. Performance management: The new realities. London: Institute of Personnel and Developm

Daniels, M. and Tacker, P., 1989. Performance management.

Aguinis, H., 2009. Performance management. Upper Saddle River, NJ: Pearson/Prentice Hall.