Nowadays, huge significance is being given to Performance Management, as companies incorporate them in their effective management strategies. However, tons of individuals find this process a sophisticated one, mostly due to the various options that it offers – on the organization, a selected department/branch, a product or service, and on employees, among others.
In order to reduce this confusion, the items below will offer you a general idea of what Performance Management is all about moreover because the activities that are involved in this process.
What is Performance Management?
Performance management may be a process that gives both the manager and therefore the employee (the person being supervised) the prospect to work out the shared goals that relates to the general goals of the company by looking into employee performance.
Why is it important?
Performance Management establishes an overview for workers and their performance managers to assess and to return to an agreement on certain concerns and aims that are in accordance with the overall structure of the company. This enables both parties to own clear objectives that might help them in their work and in their professional growth.
Who conducts Performance Management?
Performance Management is administered by those that oversee the performance of people – work/team leaders, supervisors, managers, directors, or department chairs.
What are the processes involved?
Below are the phases of the Performance Management Process:
This phase of Performance Management process includes establishing job descriptions and identifying the employee’s essential functions also as defining the strategic plan/s of the department or the corporate as a whole.
A job description is there to advertise a vacant position, which usually specifies the following:
– The specific functions, tasks, and responsibilities of the position
– the amount of your time needed to bear upon each function
– The qualifications needed (skills, knowledge and abilities) to perform the work
– The physical and mental requirements of the position
– Salary range for the position
– To whom the position reports
Job descriptions should be disclosed to the employee as soon as he or she is hired. Note, however, that job descriptions are listed using words that make it difficult to live the employee’s performance. They are in contrast with competencies, which list the talents needed in performing such tasks and are described using terms which will be measured.
This phase of Performance Management process includes developing performance standards, which offers a scale that describes how a selected job should be performed so as to satisfy (or exceed) expectations. They are explained to newly hired employees and are later bench-marked to evaluate work performance.
Performance standards are generally outlined with the participation of the workers who actually perform the tasks or functions. There are a number of advantages with this approach:
– The standards are going to be suitable to the requirements of the work
– The standards are going to be applicable to actual work conditions
– The standards are going to be easily understood by the worker (and performance manager as well)
– The standards are going to be acknowledged (and received) by the worker and therefore the performance manager
Standards of performance are usually within the style of ratings (1 to five , A to E) that are employed by performance managers to rate the employee’s actual level of performance.
This phase of the Performance Management process includes monitoring employee’s work performances and giving feedback about them.
As the basis of feedback, observations should be verifiable: they ought to involve noticeable and work-related facts, events, behaviors, actions, statements, and results. Feedback of this sort is named behavioral feedback, and this help employees improve and/or sustain good performance by precisely identifying the areas that the worker must improve without judging his or her character or motives.
This phase includes conducting performance evaluations. This is the critical aspect of the Performance Management process, especially because it’s important for performance managers to attain an unbiased assessment.
A performance appraisal form has the following features:
– Employee information
– Performance standards
– Rating scale
– Employee performance development recommendations
– Employee comments
– Employee’s Self-appraisal
Why conduct performance appraisals? It provides a chance to enhance performance within the future not just for employees, but managers also . Performance appraisals enable managers to amass information from employees which will help them make employee’s jobs more productive.
5. Development Planning
This phase of the Performance Management process includes establishing plans for improved employee performance and development goals. This advances the general goal of the corporate and at the same time increases the standard of labor by employees by:
– Encouraging constant learning and professional growth.
– Helping employees maintain the extent of performance that meets (and exceeds) expectations.
– Improving job – or career-related skills and knowledge .
In closing, Performance Management may be a process that, when executed fairly and effectively, can improve the quality of the company’s workforce, raise standards, increase job satisfaction, and develop professionalism and expertise that might benefit not only the workers but the whole organization also .