Supporting Good Practice in Performance and Reward Management
Supporting Good Practice in Performance and Reward Management
3PRM
Activity 1
Performance management
Performance Management is both a strategic (about broad issues and long-term goals) and an integrated (linking various aspects of the business, people management, individuals and teams) approach to delivering successful results in organisations by improving the performance and developing the capabilities of teams and individuals.
Two main purposes of performance management are; * To help the employees in identifying the knowledge and skills required for performing the job efficiently as this would drive their focus towards performing the right task in the right way, which in turn helps work towards the business objectives as their tasks are generated and focussed around the organisations goals. * Promoting a two way system of communication between the supervisors and the employees for clarifying expectations about the roles and accountabilities, communicating the functional and organisational goals, providing a regular and a transparent feedback for improving employee performance and continuous coaching and development.
The most important stage and component of any performance management process which forms the basis of performance is Appraisals. Appraisal systems are a formal method of monitoring and reviewing individuals’ performance. This is important as they enable the individuals to gain a clear picture of how they are doing and to identify areas where they may need additional support or training. They also ensure that the work of the individual is focussed towards the overall objectives of the organisation and whether they are on track to meet their objectives they have been set.
There are three main components of performance management; * Planning – This is done in form of appraisals. Performance planning is jointly done by the appraisee and also the appraiser in the beginning of a performance session. During this period, both the manager
3PRM
Activity 1
Performance management
Performance Management is both a strategic (about broad issues and long-term goals) and an integrated (linking various aspects of the business, people management, individuals and teams) approach to delivering successful results in organisations by improving the performance and developing the capabilities of teams and individuals.
Two main purposes of performance management are; * To help the employees in identifying the knowledge and skills required for performing the job efficiently as this would drive their focus towards performing the right task in the right way, which in turn helps work towards the business objectives as their tasks are generated and focussed around the organisations goals. * Promoting a two way system of communication between the supervisors and the employees for clarifying expectations about the roles and accountabilities, communicating the functional and organisational goals, providing a regular and a transparent feedback for improving employee performance and continuous coaching and development.
The most important stage and component of any performance management process which forms the basis of performance is Appraisals. Appraisal systems are a formal method of monitoring and reviewing individuals’ performance. This is important as they enable the individuals to gain a clear picture of how they are doing and to identify areas where they may need additional support or training. They also ensure that the work of the individual is focussed towards the overall objectives of the organisation and whether they are on track to meet their objectives they have been set.
There are three main components of performance management; * Planning – This is done in form of appraisals. Performance planning is jointly done by the appraisee and also the appraiser in the beginning of a performance session. During this period, both the manager