November 3, 2018

MU0016 [Performance Management and Appraisal] Set1 Q1

Q.1 Discuss the aims of performance management?

Ans:

The major objectives of performance management are discussed below:
  • To enable the employees towards achievement of superior standards of work performance.
  • To help the employees in identifying the knowledge and skills required for performing the job efficiently as this would drive their focus towards performing the right task in the right way.
  • Boosting the performance of the employees by encouraging employee empowerment, motivation and implementation of an effective reward mechanism.
  • Promoting a two way system of communication between the supervisors and the employees for clarifying expectations about the roles and accountabilities, communicating the functional and organizational goals, providing a regular and a transparent feedback for improving employee performance and continuous coaching.
  • Identifying the barriers to effective performance and resolving those barriers through constant monitoring, coaching and development interventions.
  • Creating a basis for several administrative decisions strategic planning, succession planning, promotions and performance based payment.
  • Promoting personal growth and advancement in the career of the employees by helping them in acquiring the desired knowledge and skills.

Some of the key concerns of a performance management system in an organization are:
  • Concerned with the output (the results achieved), outcomes, processes required for reaching the results and also the inputs (knowledge, skills and attitudes).
  • Concerned with measurement of results and review of progress in the achievement of set targets.
  • Concerned with defining business plans in advance for shaping a successful future.
  • Striving for continuous improvement and continuous development by creating a learning culture and an open system.
  • Concerned with establishing a culture of trust and mutual understanding that fosters free flow of communication at all levels in matters such as clarification of expectations and sharing of information on the core values of an organization which binds the team together.
  • Concerned with the provision of procedural fairness and transparency in the process of decision making.

The performance management approach has become an indispensable tool in the hands of the corporates as it ensures that the people uphold the corporate values and tread in the path of accomplishment of the ultimate corporate vision and mission. It is a forward looking process as it involves both the supervisor and also the employee in a process of joint planning and goal setting in the beginning of the year.

Performance management is an ongoing, continuous process of communicating and clarifying job responsibilities, priorities and performance expectations in order to ensure mutual understanding between supervisor and employee. It is a philosophy which values and encourages employee development through a style of management which provides frequent feedback and fosters teamwork. It emphasizes communication and focuses on adding value to the organization by promoting improved job performance and encouraging skill development. Performance Management involves clarifying the job duties, defining performance standards, and documenting, evaluating and discussing performance with each employee.

One of the important objectives of performance management is identifying the strengths and weaknesses of employees and finding ways to overcome their shortcomings. This is done by evaluating employee output and the company’s overall ability to meet the goals by having quarterly or annual audits. Often, after an evaluation, there will be widespread company meetings where managers and employees discuss concerns and solutions to problems.

Another objective is to discover where employees and the company are falling short. This is done by going through details such as profits earned, new clients acquired and the contribution of employees to make these things happen. Employees whose contribution are minimal or not up to the mark are counselled on how to improve performance.

The evaluation of an employee’s performance is based on their work output and the amount of time spent by them on the project. Although time spent in an office is not an accurate way of measuring performance, most companies still have the notion that better employees put in longer hours of work. A better way of measuring employee productivity would be to measure the output of work and the accuracy of work completed.

Overall evaluation of a company and its ability to set and reach goals is another important objective of performance management. Increasing revenue is the overall goal of any company. Other goals may be to acquire more or specific clients, develop new products or hire new talent. It is very easy to determine which of these goals have been met, because these are things that can be seen or calculated.

The inability of a company to meet the goals is mainly due to poor leadership, poor planning, poor implementation or poor employee performance. Economic factors also play a major role, but it is better for companies to concentrate on factors that are within their control. The best way of improving a company’s overall output is motivating the employees and improving their performance.

To identify and remedy situations that hinder company performance is another important objective of performance management. This includes replacing underperforming employees, gaining new clients, developing new strategies for reaching the goals and discussing strategies that have worked in the past.

In order to meet the objectives of performance management and improve the overall performance of a company, every employee must work with the team members to develop new techniques and implement changes.

The aims of performance management can be summarised into the following points.
The aims of performance management are:
• To assist in the achievement of enhanced standards of work performance of an employee or class of employees.
• To assist employees to identify the knowledge and skills to perform their jobs efficiently.
• To ensure that the employees work towards the defined goals.
• To ensure that the employees receive regular feedback on performance.
• To assist the employees to achieve personal growth through acquiring relevant knowledge and skills and attitudes.
• To evaluate the company and its ability to set and reach goals.
• To identify and remedy situations that are hindering company performance.

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