Does Having a Performance Management Program Bring Value to the Organization?

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Does Having a Performance Management Program Bring Value to the Organization?


What is the performance Management

Performance management is the continuous process of improving performance by setting individual and team goals which are aligned to the strategic goals of the organization ,planning performance to achieve the goals , reviewing and assessing progress, and developing the knowledge, skills and abilities 

of people.





(Az Central, n.d.)

How Performance Management Program Bring Value to the Organization?

Alignment

A robust performance management program enables you to align an individual employee’s job tasks with the company’s strategic direction. By creating a comprehensive job framework with clear job descriptions and defined skills and knowledge required to complete job tasks at the novice, expert and master levels, you can then recruit, interview, hire and orient employees to work at your company to achieve your company’s goals.


Productivity

Focusing employee attention on improving business results involves educating employees on their role in business operations, such as how the company makes money, solves customers' problems and maximizes customer satisfaction and loyalty. A performance management program brings value to the organization when people understand the overall goals and know how to work toward them in a consistent manner. When employees see that they make a difference, they tend to be more committed to improving their own productivity. Use your performance management program to track productivity and operational improvements. Publish the results in newsletters, and reward high performers to inspire others.



Succession

Use your performance management program to identify talented individuals in your workforce. Provide opportunities for your staff to develop in their roles so they can assume a leadership position later on. For example, to ensure you have subordinates who can take over for retiring leaders, establish leadership development programs and target individuals who show potential in project management, business acumen, team building, customer service and innovation. Use your performance management program to track productivity and operational improvements. Publish the results in newsletters, and reward high performers to inspire others (Moravec, 1996, pp. 37-42).


Motivation

Knowing that their manager will conduct an annual performance review typically motivates an employee to set attainable goals and work to achieve them. By conducting a 360-degree performance review process and gathering input on the employee from peers, superiors, suppliers, customers and business partners, you get a broad view of the employee’s interactions. This sets clear expectations that all relationships matter on the job. Establishing accountability encourages employees to take ownership of their own careers and success (Az Central, n.d.).



Conclusion

Having a performance management program brings value to your organization because it focuses attention on specific and measurable development goals. Most performance management systems focus on rating employees to determine promotions, merit increases and incentive rewards. Performance reviews may also be used to make termination decisions. However, to manage performance more effectively, you should align employee development goals with your strategic objectives, ensure succession planning, motivate employees to pursue career development and improve productivity.

Please check out the video;





Reference

Az Central. (n.d.). Does Having a Performance Management Program Bring Value to the Organization? Retrieved 11 22, 2020, from Az Central: https://yourbusiness.azcentral.com/manage-restaurant-business-remotely-25496.html

Moravec, M. (1996). Does Having a Performance Management Program Bring Value to the Organization? Scholarly Journals, 85(02), 38-96.

Video Source : https://www.youtube.com/watch?v=OJyzKDtbx7E



Comments

  1. Rushni yusuf3 April 2023 at 16:27

    Recognize employee performance and behaviors consistent with organizational goals. Employ­ees should feel val­ued and appre­ci­at­ed for the work they do and the effort they put in.

    ReplyDelete
  2. Tharanga Jayasundara6 April 2023 at 09:37

    You have chosen an important topic for the blog. In order to help the business achieve its strategic goals, performance management is an ongoing process of communication between a supervisor and an employee that takes place throughout the year.

    Good Job !

    ReplyDelete
    Replies
    1. Saraj Kahingala22 April 2023 at 13:27

      You are correcct , Tharanga .Using a continuous approach to performance management allows you to invest significant time in making sure that your staff is working toward goals and objectives that will maximize their use of their abilities and job responsibilities.

      Delete
  3. George Bertus6 April 2023 at 12:16

    “The true measure of the value of any business leader and manager is performance.” – Brian Tracy Great article which elaborates topic.

    ReplyDelete
  4. Anonymous7 April 2023 at 10:24

    Great job on your performance management blog post! I really appreciate how you emphasized the importance of setting clear expectations and goals, providing regular feedback and coaching, and recognizing and rewarding good performance. Your insights into how performance management can improve employee engagement and productivity were spot on, and I especially liked your tips for creating a culture of continuous improvement. Your blog post has inspired me to take a closer look at how we approach performance management in my own organization. Keep up the good work!



    ReplyDelete
    Replies
    1. Saraj Kahingala22 April 2023 at 13:51

      Agreed with you, Piyumi.They are able to integrate their systems, resources, and personnel with their strategic goals through both formal and informal approaches. It serves as a dashboard as well, giving management advance notice of potential issues and letting them know when changes are needed to keep a business on track.

      Delete
  5. Tharanga Wanigasundara10 April 2023 at 11:55

    Having a performance management program can bring significant value to an organization by improving employee performance, enhancing engagement and motivation, aligning organizational goals, identifying and addressing performance issues, and supporting employee engagement. Well done.

    ReplyDelete
  6. Kosalee Sooriyaarachchi18 April 2023 at 20:18

    Great job on the article! The topic was also very interesting and timely and I appreciate the effort you put into presenting the information in a clear and concise manner.

    ReplyDelete
    Replies
    1. Saraj Kahingala22 April 2023 at 13:10

      Thanks for the very positive commets, Kosalee.

      Delete

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