Performance Management

Performance Management - Definition

Performance management is a constant practice of statement among a manager and an employee that occurs during the year, in support of achieving the strategic objectives of the organization.

The communication method includes clarifying expectations, setting objectives, identifying goals, providing feedback, and reviewing results.

Planning:

This stage of Performance Management process contains establishing job descriptions and identifying the employee's necessary functions as well as defining the strategic plans of the department or the company as a total.

• Strategic Plan

A strategic plan shows three things:

• Where the company is heading in the coming years.
• How the company is going to get there?
• How the company will know if it is already there or not.

In a strategic plan below mentioned facts are included:

• Mission statement - the main reason why the company exists.
• Goals - connected with the mission statement, they decide the results that will advance supposed statement/s.
• Strategic initiatives - states exact steps that must be taken to achieve every goal. It is an active process, typically examined throughout the periods such as one or two years.

Developing

This chapter of Performance Management process contains developing performance standards, which presents a level that describes how a specific job should be performed in order to meet (or exceed) expectations. They are explained to newly hired employees and are later used to evaluate work performance.

Performance standards are generally outlined with the help of the employees who actually perform the tasks or functions. There are a number of advantages with this approach:

• The standards will be suitable to the requirements of the job
• The standards will be applicable to actual work conditions
• The standards will be easily understood by the employee (and performance manager as well)
• The standards will be acknowledged (and received) by the employee and the performance manager

Monitoring

This stage of the Performance Management process includes monitoring employee's work performances and giving feedback about them.

Rating

This stage includes conducting performance evaluations. This is the significant feature of the Performance Management process, particularly because it is significant for performance managers to get there at an balanced assessment.

A performance appraisal form has the following features:

• Employee information
• Performance standards
• Rating scale
• Signatures
• Employee performance development recommendations
• Employee comments
• Employee's Self-appraisal

Development Planning

This stage of Performance Management process includes setting up plans for enhanced employee performance and development goals. This move on the overall goal of the company and at the same time boosts the quality of work by employees by:

• Encouraging regular learning and professional growth. 
• Helping employees maintain the level of performance that meets expectations.
• Improving job or career-related skills and experience.

References:

Whatishumanresource. (n.d.). Performance Management process - What is Human Resource? (Defined) Human Resource Management Topics - Labour Laws - High Courts & Supreme Court Citation - Case Laws. [online] Available at: http://www.whatishumanresource.com/performance-management-process [Accessed 24 Feb. 2020].