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org
Seminar
On
Performance Management
Submitted To: Submitted By:
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Table of Content
What is Performance Management?
Performance Management Goals
Performance Management Cycle
Benefits of Performance Management
Issues With Performance Management
The New Performance Management Policy
Key features of effective performance management software
Conclusion
Introduction
Performance Management is a key process in any organization and
should assist the management and staff to focus on the key issues
and business objectives to ensure sustainability.
Traditionally, performance management has been a forward-looking
solution based entirely on hindsight. But organizational culture is
evolving to one of continuous feedback powered by technology,
where managers can foresee problems based on current employee
performance and initiate any form of course correction to bring the
employee back on track.
What is Performance Management?
Performance Management is…
an ongoing process where supervisors and employees work
together to plan, monitor, and review an employee’s work
objectives, goals, and professional development.
comprised of frequent informal conversations including
coaching, feedback and support to employees about their
work, needs and accomplishments related to the duties and
expectations of their positions.
Performance Management
Process Cycle
The Performance Management
Cycle
1. Planning
This stage entails setting employees’ goals and communicating these goals
with them. While these goals should be disclosed 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 organization, you may want to assign a percentage to each of
these goals to be able to evaluate their achievement.
The Performance Management
Cycle…
2. Monitoring
In this phase, managers are required to monitor the employees
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.
The Performance Management
Cycle…
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.
The Performance Management
Cycle…
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.
Benefits of Performance Management
Integration
Open Communication
Improved Performance
Training and Development
Clarity of Standards/Requirements
Placement of Individuals
Increased Objectivity
Equitable Remuneration
Objective Promotability
Structured Career Planning
Issues With Performance Management
Legal issues.
Untrained raters.
Rater errors.
Rater distortion.
No grievance procedure.
11
The Performance Management Policy
Supervisors must conduct at least four performance
Expectationsmanagement activities with employees:
Informal Mid-point Summary
and goal-setting
conversations conversation evaluation
conversations
The goal setting, mid-point, and summary evaluation
conversations must be documented.
Key features of effective
performance management software
Customization: It should be customizable to suit your organizations
industry and performance management strategy.
Transparency: It should be able to eliminate the confusion that both
managers and their teams experience in the process of performance
management.
Objectivity: It should be able to offer objective metrics on which
managers can base their performance evaluation.
Frequency: It should allow for real-time, instant feedback and periodic
employee ratings.
Conclusion
Effective management of individual and team performance is a crucial and
central requirement to ensure stakeholder requirements, organizational
strategy and business goals are attained.
This requires accurate data regarding performance levels of business units,
teams and individuals, and therefore the need for a standardized and formal
performance management system.
References
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