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Chapter 10

Chapter 10 - Performance Management.docx

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ADM 2337 Chapter 10 March 22 2012The Strategic Importance of Performance ManagementoPerformance management is the process of combining all the activities related to improving employee performance productivity and effectivenessoIt includes goal setting pay for performance training and development career management and disciplinary actionoFoundation of performance management is the performance appraisal process oThe reason we appraise and coach employees are to motivate them and make them want to continually improve Appraisals give us a concrete base to analyze the employees work performance and appraisals let us take action to maintain enhance or improve performance if neededThe Performance Management ProcessoThe performance management process is the best way for companies to differentiate themselves in such a highly completive serviceoriented global marketplace oHaving high quality employees allows us maintain a competitive advantage oWe can make sure our employees are performing well byDefining performance expectations and goals Doing so will ensure jobs duties and standards are clear to every one of our employees Providing ongoing feedback and coaching through two way communicationConducting performance appraisal and evaluation discussions if we do this at specific intervals and we compare the employees actual performance to the standards that have been set the ideas and standards are reinforced in the mind of the employee oAnd it gives us a chance to find any deficiencies and then set correction plansDetermining performance rewardsconsequences what will our promotions be do we need salary increases and bonusesConducting development and career opportunities discussions This is usually done yearly to review each employees career plans in consideration with their strengths and weaknesses and the companys strategic plans Step 1 Defining Performance ExpectationsoThis is a critical step in employees understanding of how their work helps achieve the business results we aim foroPerformance expectations should be linked to our companys strategic objectives and future plansoExpectations should be clear through using measurable standards related to strategic objectives for eachoBasically the employees should always know ahead of time how and on what basis they will be appraisedStep 2 Providing Ongoing Coaching and FeedbackoIt is important to have open twoway communication and both the employee and the manager need to check in frequently throughout the performance management process to talk about progression toward goalsoEmployees are responsible for monitoring their own performance and asking for help This promotes employee ownership and shows employees that they have control over results oAlso some strategies and objectives change quickly therefore managers and employee may need to change their goals to be consistentStep 3 Performance Appraisal and Evaluation DiscussionoFormal Appraisal MethodsGraphic Rating Scale is one method This is just a scale that lists a number of traits and a range of performance for each Then we rate the employee by identifying the score that best shows his or her level of performance for each trait
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