The Performance Management System Business & Marketing Essay (Essay Sample)
Evaluate the contribution of the performance management process to promoting challenges, capability or recognising and rewarding talent.
Include your own examples but ensure you reference the key principles e.g. fairness, reasonableness, equity and meritocracy.
LEARNING OUTCOME 2: Understand the contribution of performance management to high levels of performance and the role of line managers in the process.
Main stages: objective setting, performing and developing, performance review.
Role of line managers: line manager involvement in the high-performance management
journey; the role of development reviews (appraisal) in managing continuous personal
development; the role of the line manager in coaching, counselling and mentoring; the
use of personal development and performance improvement plans; the role of
performance review meetings; evaluating the use of targets, self-evaluation, 360-degree
feedback and discipline; improving performance with financial and non-financial
rewards; monitoring and mentoring of line managers in the performance management
process to ensure equity.
Contribution of participants: the contribution and roles of participants in the performance
management process, that is, HR specialists, line managers, team members and
individual employees; the range of HR levers that can be applied in delivering business
performance and continuous improvement; the continual performance management
cycle; performance planning, managing expectations, agreeing objectives and
measuring assessment; linking individual and team performance to organisational
performance, for example the balanced scorecard; the contribution of the performance
management process to promoting challenges, capability and recognising and
rewarding talent differentially according to performance in an equitable, reasonable and
a) meritocratic way.
The Performance Management System
In today’s competitive environment, the performance management system is gaining more and more popularity. One of the primary reasons is that it helps employees boost their performance and allows companies to become more efficient and effective. All of the customers turn to businesses that guarantee outstanding products and services while keeping the prices at a low rate. In the absence of the performance management system or process, it won’t be possible for an organization to come up with the expectations of its clients. It promotes challenges and encourages all employees to give their best. Rewarding talented people means the company can expect a lot from their workers, and if they are not rewarded, they may soon lose their interest in the job (Kaufman, 2011).
YOU MAY ALSO LIKE
- Individuals, Groups, Organization Interplay Business & Marketing EssayDescription: At the heart of the success is the integration of the individual, the group, and the organization. These are the main elements of the company, and they constantly interact regardless of the tasks that are involved. This can be considered to be a hierarchy in the sense that, from the individual...7 pages/≈1925 words | No Sources | Harvard | Business & Marketing | Essay |
- Managing Innovation Business & Marketing Essay PaperDescription: Innovation is a major factor that determines the success and longevity of modern enterprises. Organizations use innovation theories in order to stay in the competition. There are different types of innovation models and theories that are used according to the business structure, and products nature...17 pages/≈4675 words | 1 Source | Harvard | Business & Marketing | Essay |
- Is the emergence of Bitcoin good or bad for the investor？Description: Bitcoin refers to a form of new currency that was developed by an unknown individual; going by the nickname of Satoshi Nakamoto in 2009. It has been classified as a digital cryptocurrency that does not require middlemen such as banks to transact. ...5 pages/≈1375 words | 8 Sources | Harvard | Business & Marketing | Essay |