EFFECTIVE PERFORMANCE MANAGMENT

Effective Performance Management System

Effective Performance Management System

Introduction

Every company/organization has its own corporate mission and corporate vision. To achieve these they do required certain form of resources which can be in the form of land, capital, machinery, material and last but foremost the human capital means the human resource which leads to utilize the rest of the resource through which they can drive the organization on the way to achieve its corporate mission and corporate vision. We all know and can not ignore that every machine or equipment do need certain form of input to operate effectively and efficiently and to make sure that they keep perform well on continuous basis we design certain measures to evaluate their performance. In a similar way to get higher level of productivity from humans (employers) we need to evaluate them and keep motivate them through certain rewards which should be on a performance based but here the question arises how we are going to evaluate and manage their performance. In answer of this question I would say, we need to develop and design a mechanism or system which is known as Performance Management System. I have developed the performance management system for my organization which is detailed below.

Overview

"Performance Management is a systematic process through which the company/organization involves its employees, as individuals and members of a department, in achieving agreed objectives, thereby improving themselves and developing organizational effectiveness, in line with the company's/organization mission, vision and goals" (Armstrong & Baron, 2004).

We have to believe that the existence of an effective and well organized Performance Management System in a company/organization guarantees consistent development and growth of the company and its employees as well. Performance is directly associated with the effective and efficient output by the human capital of a company/organization with an opportunity to the management to evaluate individual contribution to the company's vision, mission and goals. This is basically a round planned year activity which gives an employee the opportunity to achieve its personal and professional goals by meeting the defined criteria of a good company and meeting those objective and goals which have been defined in advance by the management. Definitely it will also result to the identification of individual employee standing in the department and the company, and the capability for go further and development in the company (Canales et al., 2000).

An effective and efficient performance management system has four core pillars and these four pillars perform activities independently. These are:

The Performance Management System guarantees that the company is approaching towards the right direction by achieving its targeted goals and newly rising challenges at all times by recognizing the needs which are required to develop and upgrade the human resources and the company.

When we are talking about Performance Management System, it is unfair not to discuss Performance Appraisal as it focuses that how the company/organization should achieve its required objectives through its human resources and their growth and also which is the key method of the Performance ...