MANAGING PEOPLE IN ORGANISATION

Managing People In Organisation

Executive Summary

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 cant 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.

Table Of Content

Executive Summary2

Table Of Content3

Introduction3

Human Capital4

Core Pillars5

Develop And Upgrade5

Performance Appraisal5

Capability Of Performing6

Goal Setting7

Performance Review Period8

Specific:9

Measurable:9

Agreed:9

Realistic:10

Time bound:10

SMART goals10

Performance Review Meetings10

Competencies Required To Build11

Mid Review12

Annual Review12

Essential of Effective Meetings13

Control the environment13

State The Purpose Of The Meeting13

Ask For The Employee's Opinion13

Build On The Employee's Strength14

Resolve Differences14

Summarize and conclude the discussion14

Parallel feedback and Communication15

Advantages15

Limited liability15

Corporate levy treatment15

Capital incentive16

Owner/employee16

Perpetual existence16

Disadvantages16

Fees16

Formalities17

Paperwork17

Qualitative Evaluation17

Conclusion And Recommendation19

References20

Introduction

The report has been prepared to help all the readers to understand what is performance management, what performance management system is all about, what are the main characteristics of effective performance management system, the skills and techniques required during the process of performance management and to what degree this system can effectively manage employee performance .

"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, 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.

Human Capital

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.

Core Pillars

An effective and efficient performance management system has four core pillars and these four pillars perform activities ...