Transcript Performance Management Objective Explain What is Performance Management Describe the Elements of Performance Management System Describe the Objectives of Performance Management Explain the Performance Management.

Performance
Management
Objective
Explain What is Performance Management
Describe the Elements of Performance Management System
Describe the Objectives of Performance Management
Explain the Performance Management Process
Explain the Key to Performance Management
List the differences between Performance Appraisal and
Performance Management
Explain the various Performance Appraisal Methods
List the Steps in Writing Performance and Goals
Explain the Tips for Successful Performance Management
Explain What are Key Performance Indicators
Describe the Challenges of Performance Management
Explain the Sources of Errors in Performance Management
Introduction
Helios Inc. has
several employees
working across
different
departments.
Lately, Helios has
been recording
decreased profits.
Upon auditing, they
found that there was
low performance across
many departments.
Introduction
Helios could have easily used
an effiective Performance
Management System to
monitor and manage the
performance of it's workforce.
Performance Management
is an important
management tool which is
critical for every
organization.
Let us learn
about
Performance
Management in
detail.
What is Performance Management?
It is integrated, because it effects four types of integration:
Vertical
Goals
Functional
Human
Resource
Definition of Performance Management
Performance Management has been defined as:
“A strategic and integrated approach to delivering sustained success to
organizations by improving performance of people who work in them and by
developing the capabilities of teams and individual contributors”
An important aspect of performance management is performance appraisals
where a clear set of quantifiable goals and objectives are used to measure an
individual performance against these goals.
Elements of Performance Management System
The key elements of a Performance Management
System include the following:
A Formal Compensation Philosophy Statement
Salary Administration Program
A Formal Audit/Success Rating overview on an
annual or periodic basis with disclosure of
results to management
Let’s look at each in detail.
Principles of Performance Management
• Supports business-oriented strategy
• Is values based
• Communicates organizational mission
• Fulfils responsibilities to organizational members
• Enables employees to manage own performance
• Manages expectations (clarifies roles and responsibilities)
• Creates partnership between management and employee
• Emphasizes importance of measurement, feedback, and
reinforcement
• Empowers employees
• Natural extension of management
Objective of Performance Management
• To review the performance of the employees over a given period
of time
• To judge the gap between the actual and the desired
performance
• To help the management in exercising organizational control
• Helps to strengthen the relationship and communication between
superior – subordinates and management – employees
• To diagnose the strengths and weaknesses of the individuals so as
to identify the training and development needs of the future
Importance of Balanced Scorecard
Strategic
Planning
Mission &
Vision
Balanced
Scorecard
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Activity Based Costing
Economic Value Added
Forecasting
Benchmarking
Market Research
Best Practices
Six Sigma
Statistical Process Control
Reengineering
ISO 9000
Total Quality
Management
Empowerment
Learning Organization
Self-Directed Work Teams
Change Management
Possible Performance Measures
Customer Perspective
Financial / Regulatory Perspective
Internal Perspective
Learning and Growth
Let’s look at each in detail.
Performance Management for the Organization
To give feedback to the staff about their performance.
Encourages good work and points towards improvement
opportunity
Helps setting measurable targets and objectives
Increases Role Clarity
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