Performance Management

Introduction

Performance management deals with ensuring that both organization and employee are focused on similar purpose.

Aims of Performance Management (“Corporate Training Materials,” 2015)

1. Improve productivity while reducing waste
2. Improve interaction and communication with employee
3. Show employee how important their contribution is to the organization
4. Encourage employee to set high goals and accomplish them
5. Align both employer and employee on same focus.
6. Identify individual competences
7. Improve employee overall skill through coaching
8. Give feedback on the employee’s improvement or absorption of the skills.

I was able to understand the need for employee to be connected with the goals of the organization.

I also learnt that employees need constant mentoring and coaching from their superiors.

The Benefits of Performance Management are threefold (“performance management,” 2015);

To the employee it;

1. Leads to clear expectations of compensation against performance
2. Allows employee to have clear criteria for self-assessment
3. Gives clear understanding of procedures, thus reducing misunderstandings, thus improving relationships with management
4. Gives an open and regular feedback on job performance
5. Provides employee with opportunity to learn and develop their skills at leadership development training
6. Leads to career growth
7. Gives employees incentive to contribute to organization’s objectives
8. Creates a well-defined path for personal development through coaching or training
9. Creates confidence in the employee and leads to job satisfaction

To the organization it creates a better;

1. Organizational performance
2. Productivity
3. Loyalty and retention of good employees
4. Rapport with employee
5. Reduced operational costs
6. System of accountability

To the manager it leads to;

1. Time saving with less supervision
2. Reduced conflicts with employees
3. More consistent and efficient performance

References

Performance management. (2015). Retrieved from http://www.managementstudyguide.com/portal

Corporate Training Materials. (2015). Retrieved from http://corporatetrainingmaterials.com/index.asp