Introduction to Performance Managment

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is the practice of recruiting, hiring, deploying and managing an organization's employees.

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Module 1

42 Terms

1

is the practice of recruiting, hiring, deploying and managing an organization's employees.

HUMAN RESOURCE MANAGEMENT

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refers to the economic value of a worker's experience and skills. it is an intangible asset or quality

HUMAN CAPITAL

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3

M’s of Management

  1. Men

  2. Material

  3. Money

  4. Machine

  5. Method

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Management Functions

Planning

Organizing

Staffing

Directing

Controlling

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5

the process of choosing appropriate goals and actions to pursue and then determining what strategies to use, what actions to take, and deciding what resources are needed to achieve the goals.

Planning

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this process of establishing worker relationships allows workers to work together to achieve their organizational goals.

Organizing

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recruiting and selecting employees for positions within the company (within teams and departments).

Staffing

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this function involves articulating a vision, energizing employees, inspiring and motivating people using vision, influence, persuasion, and effective communication skills.

Directing

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evaluate how well you are achieving your goals, improving performance, taking actions. Put processes in place to help you establish standards, so you can measure, compare, and make decisions.

Controlling

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10

Human Resource Management Functions & Objectives

  1. Analysis and Design of work

  2. Recruitment and Selection

  3. Training and Development

  4. Performance Management

  5. Compensation and Benefits

  6. Employee relations

  7. Personal policies

  8. Employee data and Information systems

  9. Compliance with laws

  10. Support for Strategy

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11

Work analysis; Job design; Job description

Analysis and Design of work

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Recruiting; Job postings; Interviewing; Testing; Coordinating use of temporary labor

Recruitment and Selection

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Orientation; skills training; career development programs

Training and Development

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Performance measures; Preparation and administration of performance appraisals; Discipline

Performance Management

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Wage and salary administration; Incentive pay; Insurance; Vacation leave administration; Retirement plans; Profit sharing; Stock plans

Compensation and Benefits

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Attitude surveys; Labor relations; Employee handbooks; Company publication; Labor law compliance; Relocation and outplacement services

Employee relations

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Policy creation; Policy communication

Personal policies

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Record keeping; HR information systems; Workforce analytics

Employee data and Information systems

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Policies to ensure lawful behavior; Reporting; Posting information; Safety inspections; Accessibility accommodations

Compliance with laws

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Human resource planning and forecasting; Talent management; Change management

Support for Strategy

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What do Employees Expect in an Org

  • Be treated fairly and  consistently

  • Job/career enrichment  opportunities

  • Clear expectations

  • Positive/constructive  feedback on a regular basis

  • Involvement in goal setting

  • Economic reward

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Why perform

  • To reach organizational  mission and goals

  • Encourage and reward  behaviors aligned with  organizational mission and  goals

  • Curb or redirect non-  productive activities

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23

The action or process of carrying out or  accomplishing an action, task, or function can  be termed as performance.

  • Performance management includes the  processes used to manage corporate  performance, the methodologies that drive  some of the processes and the metrics used  to measure performance against strategic  and operational performance goals.

Performance

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are the benchmark against  which performance is measured.

Performance Standards

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It is a continuous process of identifying,  measuring and developing the performance  of individuals and teams and aligning  performance with the strategic goals of the  organization

Performance Management definition

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Two Major Components of PM

  1. It’s a continuous process

  2. Alignment with strategic goals

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An iterative process of goal-setting, communication, observation and  evaluation to support, retain and develop exceptional employees for  organizational success.

Performance Management

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Purpose of PMS

  • It serves the strategic purpose of the org.

  • Provide information for reward system

  • Facilitates HR decisions

  • Enabling employees to learn about their  performance as against org expectations

  • It serves as a developmental purpose

  • Serves org maintenance purpose

  • Support HR decision to meet legal  requirements

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PM is a broader term & includes appraisal as a  part of the performance system.

Performance Management

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is the systematic description of an employee’s strengths and  weakness. Thus, performance appraisal is an important  component of performance management.

Performance appraisal

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Contributions of PM to an Org

  • Motivation to perform is increased

  • Increases self esteem

  • Managers gain insight about subordinates

  • Jobs are simplified

  • Organizational goals are clear

  • Employees become more competent

  • Differentiation b/n good & poor performance

  • Performances are communicated

  • Change can be possible

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Characteristics of an ideal PMS

  • Strategic congruence

  • Thoroughness

  • Practicality

  • Meaningfulness

  • Specificity

  • Reliability

  • Validity

  • Acceptability

  • Inclusiveness

  • Openness

  • Correctability

  • Standardization

  • Ethicality

  • Identification of  effective & ineffective  performance

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Aims & Roles of PMS

  1. Salary administration

  2. Performance feedback

  3. Identification of employee strengths &  weakness

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Aims or Purposes of PM

  • Strategic purpose

  • Administrative purpose

  • Informational

  • Developmental

  • Organizational maintenance

  • Documentational

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Disadvantages of poorly implemented PMS

  • Increased turnover

  • Use of misleading information

  • Wasted time & money

  • Lowered self esteem

  • Damaged relationships

  • Decreased motivation to perform

  • Employee job burnout & dissatisfaction

  • Increased risk of litigation

  • Unjustified demands on managers &  employees resources

  • Varying & unfair stds & ratings

  • Emerging biases

  • Unclear rating systems

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PM Process

  1. Prerequisite

  2. Performance Planning

  3. Performance Execution

  4. Performance Assessment

  5. Performance Review

  6. Performance Renewal &  Re-contracting

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Pre-requisite

Two important prerequisites before PM  system are:

  1. Knowledge of the org’s mission & strategic  goals

  2. Knowledge of the job in question (this is  done through job analysis)

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Performance Planning

Employees should have a through knowledge  of the PM System. Planning discussion includes :

  1. Results

  2. Behaviours

  3. Developmental issues

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Performance Execution

At the execution stage, following factors  must be considered:

  1. Commitment to goal achievement

  2. Ongoing performance feedback & coaching

  3. Communication

  4. Collecting & sharing performance data

  5. Preparing for performance reviews

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Performance Assesment

  • It is important for employee as well as the  managers to take ownership of assessment  process.

  • It helps the org to use the information  obtained in a productive manner for the  future requirements.

  • Inclusion of self appraisal is also beneficial in  all manner.

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Performance Review

  • Review stage involves meeting between  employees & the manager.

  • This meeting is called Appraisal Meeting.

  • Review meeting helps employee and  manager to design developmental plans.

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Renewal & Re-contracting

  • Its identical to planning stage.

  • Manager uses the insights & information  gained from other phases to reset  performance goals for employees

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