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Essay example - Performance Management

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Masters
Essay
Finance & Accounting
Pages 6 (1506 words)
The process of performance management is whereby an organization assesses the performance of its employees using various tools of assessment, to ensure that the performance of employees is aligned with the objectives of the organization. …

Extract of sample

Therefore, the system of performance management generally involves evaluating and developing the skills, behaviors, and the performance of individual employees, for ensuring that the organization competes favorably in the market through its high performance.
Performance management is used as a measuring and management instrument of employees in the organization. This process mostly benefits the big international companies, and those companies, whose workforce is greatly distributed. As a process, performance management comprises different types of activities aimed at achieving the objective of the general process. These include reward and remuneration for employees, coaching and mentoring of employees, team working, measuring, competencies, and personal development plans, among others. Today, performance management is characterized by various changes, as the way it is approached today differs with how the process was approached in the past centuries. The changes in performance management today have contributed to its increased efficiency, and help organizations retain their high-performing employees. Performance management today is a holistic process, which embraces different processes, and this is efficient in people management in companies (Kreitner 2008).
Armstrong & Baron (2005) note that performance management is not a new process. This has lasted for the past seventy years, since its inception in the 1940’s. Initially, managers of companies developed performance management during this period, in order to establish whether the different salaries and remuneration for the employees were justified or not. ...
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