The Rise Of Compensation And Performance Management

Compensation and Performance Management Student’s Name Institution Compensation and Performance Management Performance evaluation systems are an important part of organizations today as they help in raising the performance of the employee and consequently that of the organization. Given its significance, organizations need to take a disciplined approach during implementation. There are a number of strategies that organizations need to utilize during the evaluation process for performance improvement. First, an organization needs to develop a strong performance plan (Office of Financial Management, 2010). In this case, the goals of the business are aligned with that of the individual employee and clear performance measures are put in place. Second, the organization should make use of a uniform evaluation cycle. This ensures there is consistency and the contribution of each individual employee to the goals of the organization can be assessed easily (Office of Financial Management, 2010). Third, the process should include regular coaching and feedback. This is necessary as it eliminates surprises during evaluation. This...