PERFORMANCE MANAGEMENT IN HRM
PERFORMANCE MANAGEMENT IN HRM
Performance management one of the main functions of HRM and
it is an evaluation system that used by HRM department to assess the employee’s
productivity within an organization.
What is Performance Management.
Performance management is a set of processes and systems
aimed at developing employees, so they perform their job to the best of their
ability. The goal is to help employees build on skills that enable them to
perform better in their roles, reach their potential, and boost their success
while also accomplishing the strategic goals of the organization
Performance management system is tool which is used to
communicate the organizational goal to the employees individually, allot
individual accountability towards that goal and tracking of the progress in the
achievement of the goals assigned and evaluating their individual performance.
Performance management system reflects the individual performance or the
accomplishment of an employee, which evaluates and keeps track of all the
employees of the organization
In practice, performance management means that management is
consistently working to develop their employees, establish clear goals, and
offer consistent feedback throughout the year
1. Performance management supplements the annual performance review
- This
prepares both employees and managers about what to expect during the annual
appraisal. It keeps both the manager and the employee in the loop about ongoing
changes to the performance management process, what both can do to streamline
it, and how performance overall can be improved.
2. To employees, continuous
performance management indicates that managers value them - Employees believe that
their managers are interested in their work and care about their goals and any
issues they may face in the course of their job. They also become more open to
receiving constructive feedback.
Source:
1. 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
2. Monitoring
In this phase, managers are required to monitor
the employee’s 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 owindow. 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
Conclusion.
Performance management system is very important for an organization
to move towards achieving the expected targets/goals. Employees needs to be supported
by managers /leaders to get the maximum from the employees. Practicing a good performance
system can benefit the employees as well as the organization.
References
Andreev, I., 2023. Performance Management. [Online]
Available at: https://www.valamis.com/hub/performance-management#what-is-performance-management
[Accessed 16 08 2023].
Lalwani, P.,
2020. What Is Performance Management? Definition, Process, Cycle, and Best
Practices for Planning. [Online]
Available at: https://www.spiceworks.com/hr/performance-management/articles/what-is-performance-management/
[Accessed 16 08 2020].
mbaskool.com,
n.d. Performance Management System - Meaning, Importance, Components &
Process. [Online]
Available at: https://www.mbaskool.com/business-concepts/human-resources-hr-terms/3552-performance-management-system.html#:~:text=Performance%20management%20system%20is%20a%20very%20broader%20and,feedback%20of%20the%20performance%20and%20rewarding%20the%20achievements.
[Accessed 16 08 2023].
Saldanha,
V., 2021. Performance Management: Concept and Definitions. [Online]
Available at: https://pulsehrm.com/performance-management-concept-and-definitions/
[Accessed 16 08 2023].
Vulpen, E.
v., n.d. What Is Performance Management? The Complete Guide. [Online]
Available at: https://www.aihr.com/blog/what-is-performance-management/
[Accessed 16 08 2023].
Vulpen, E.
v., n.d. What Is Performance Management? The Complete Guide. [Online]
Available at: https://www.aihr.com/blog/what-is-performance-management/
[Accessed 16 08 2023].
Performance Management is a crucial and fundamental function of human resource management. It focuses on setting a clear process for managers to follow in order to get the best from their people.
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