Performance management system for success
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Managing employee performance provides a foundation for employee and organizational success. It coordinates many of the human resources (HR) functions together to create an interdependent dialogue on performance. Performance management systems allow organizations and employees to know their strengths and weaknesses.
What are the components of a performance management system?
How does employee evaluation support an organization's performance and help to create competitive advantage?
What are some examples of employee motivational theories or techniques that maximize employee contributions?
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Solution Summary
A review of performance management and motivation is given for employee and organizational success. The solution determines if the performance management creates a competitive advantage.
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What are the components of a performance management system?
The components are goal setting, feedback/review, development, rewards and recognition, and communication. Each of these plays a part in how the organization informs the employee of expectations of the company and communicates how the employee is accomplishing these goals.
Goal setting is the most important step to begin because it is here that the company has analyzed its needs and decided how best, the employee can fill their portion of those needs. The HR helps the employee create and complete goals to aid in the employee's advancement and participation, while keeping the company's strategic goals in mind.
Feedback on performance is another component. Letting an employee know how well they are doing, where they need improvement and how to achieve those improvements are helpful to both sides. If these performance reviews are put into written form and a plan created, the employee and company have a new set of ...
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