WHY PERFORMANCE MANAGEMENT IS IMPORTANT???
- Performance management is beneficial for both organisation and employee. With a strategic management of performance an organisation has the ability to increase their profits, increase the trust in public, understand the paths to develop and accomplish the best human capital in the industry.
- Performance Management will also increase the teamwork, positive work environment and quality of the services perform. The whole process is a great way to identify and groom potential leaders when considering the future of the organisation.
- This also aids to enhance the training and development needs of each and every employee from the data collected by evaluation process. A strategic training and development program might help organisations to build up a much more confident, skilled, effective employees.
- Even though the process’s short term goal is to identify the employee achievements, it also gives an idea about achievability and accuracy of the goals given and helps to clarify the changes required in future targets. Through performance management, the organisations can emphasise that by aligning the employee working capacity and enthusiasm with the organisational goals, they can ensure that each individual can feel ownership in the industry by achieving them one by one. It is the organisation’s capability to promote motivation to obtain the best performance of employees.
- Like mentioned earlier this also helps to improve the communication between the employer and employee when they exchange ideas and feedback about their individual positions in an organisation. A two way communication is the most fruitful in this scenario and the employee can use these sessions as a mentoring and coaching too. An enhanced employee performance and engagement is a result of reliable feedback and coaching.
- This also can be used as a tool to increase employee retention ration with the rewarding of best work employees. Human factor if appreciated and complemented when required can remain loyal to the organisation until that environment change.
- This is also another way to boost employee engagement. If they are rewarded for the achievements they made, the employees would naturally increase their inputs for financial and non financial benefits too.
- Performance management also has the capability to increase employee satisfaction and loyalty by rewarding them.
- The valuable data gained from the performance management process, would be convenient to strategically plan the recruitment and hiring process.
- Investing in performance management can also be the competitive advantage when considering the modern world trends.
All the benefits and favourable features added by the human factor to the organisation can be elevated if the performance management is planned strategically since human capital is what is considered to be the deciding factor in the modern world.
· Hearn, S., 2018. Why is Performance Management Important?. [Online]
Available at: https://www.clearreview.com/why-performance-management-important/
[Accessed December 2021].
· White, D., n.d. Importance of Performance Management in an Organization. [Online]
Available at: https://www.techfunnel.com/hr-tech/importance-of-performance-management-in-an-organization/
[Accessed December 2021]
Performance Management helps you track your employees' performance and tells you whether or not they need extra support, can handle a higher-level training, or deserve a raise. It is important to have a structured Performance Management and tracking process to maintain a high standard for your organization.
ReplyDeleteIn addition, performance management researches shows that a significant number of employees tend to have the desire to perform their jobs, part of their individual goals as well as a demonstration of loyalty towards the organisation (Wright & Cheung, 2007).
DeleteBy using performance management process HR departments can be identify the individuals weekness and it will helpful to arrange training programs to develop them to achieve the organizational goals.
ReplyDeleteMost organisations have spent insufficient time establishing goals and measurements for employee performance.
DeletePerformance reviews are an inadequate reflection of an employee’s work.
They rarely focus on achievements related to measurable goals. They tend to focus on most recent performance and ignore the contributions an employee makes all year long. Managers rarely seek feedback from other managers and colleagues about an employee’s performance.
Important facts and very informative blog. Keep posting
ReplyDeleteThank You Duminda
DeleteVery helpful article to improve knowledge of performance evaluation.
ReplyDeleteThank You Sampath.
DeleteAbsolutely performance should be evaluated properly and effectively
ReplyDeleteYes. Because Maley (2013), stated that when undertaken in the absence of clear goals, performance appraisal can however have serious ramifications in terms of employee dissatisfaction and consequently a reduction in productivity and organisational commitment.
DeletePerformance evaluation should do Neutral
ReplyDeleteYes. Absolutely. Performance appraisal systems should be designed in such a way that they create perceptions of fair treatment relative to other employees as well as the employee‘s own expectations.
DeletePerformance assessments are critical for a company's and an employee's progress. It assists the firm in determining if the employee is productive or a liability
ReplyDeleteTrue. The organisations can however control how employees perform their jobs.
DeleteIn addition, performance management research shows that a significant number of employees tend to have the desire to perform their jobs well as part of their individual goals as well as a demonstration of loyalty towards the organisation (Wright & Cheung, 2007).