BU354 Chapter Notes - Chapter 8: Rating Scale, Gang Of Youths, Employee Engagement
Document Summary
Performance management: the use of performance data to affect organizational culture, systems, and processes, set goals, allocate resources, affect policies/programs and share results: comprehensive performance management systems involve much more than just performance appraisals. Performance appraisal: process by which organizations evaluate employee job. To achieve the organization"s strategic objectives, individual employees need to meet their performance individual performance goals: when an employee does not play their role, the organization will not perform at its best. Performance management involves using performance data to mutually inform corporate culture, organizational benchmarks, human capital potential, systems and processes, resources, current policies, and program directions: also involves sharing the results with all stakeholders and asking for stakeholders". Ideal performance management systems provide incentives for employees to concentrate on improving things that contribute most to value creation (i. e. hiring the right people, producing high quality goods or services, using the most effective t&d program) Incentives can be used to reinforce performance that matches desired business strategy.
