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MBA-performance-management-PPT11111.pptx
- 1. www.studymafia.org Submitted To: Submitted By: www.studymafia.org www.studymafia.org Seminar On Performance Management
- 2. Table of Content What is Performance Management? Performance Management Goals Performance Management Cycle Benefits of Performance Management Issues With Performance Management The New Performance Management Policy Key features of effective performance management software Conclusion
- 3. Introduction Performance Management is a key process in any organization and should assist the management and staff to focus on the key issues and business objectives to ensure sustainability. Traditionally, performance management has been a forward- looking solution based entirely on hindsight. But organizational culture is evolving to one of continuous feedback powered by technology, where managers can foresee problems based on current employee performance and initiate any form of course correction to bring the employee back on track.
- 4. What is Performance Management? Performance Management is… an ongoing process where supervisors and employees work together to plan, monitor, and review an employee’s work objectives, goals, and professional development. comprised of frequent informal conversations including coaching, feedback and support to employees about their work, needs and accomplishments related to the duties and expectations of their positions.
- 6. The Performance Management Cycle 1. Planning This stage entails setting employees’ goals and communicating these goals with them. While these goals should be disclosed in the job description to attract quality candidates, they should be communicated once again when the candidate becomes a new hire. Depending on the performance management process in your organization, you may want to assign a percentage to each of these goals to be able to evaluate their achievement.
- 7. The Performance Management Cycle… 2. Monitoring In this phase, managers are required to monitor the employees performance on the goal. This is where continuous performance management comes into the picture. With the right performance management software, you can track your teams performance in real-time and modify and correct course whenever required.
- 8. The Performance Management Cycle… 3. Developing This phase includes using the data obtained during the monitoring phase to improve the performance of employees. It may require suggesting refresher courses, providing an assignment that helps them improve their knowledge and performance on the job, or altering the course of employee development to enhance performance or sustain excellence.
- 9. The Performance Management Cycle… 4. Rating Each employees performance must be rated periodically and then at the time of the performance appraisal. Ratings are essential to identify the state of employee performance and implement changes accordingly. Both peers and managers can provide these ratings for 360-degree feedback. 5. Rewarding Recognizing and rewarding good performance is essential to the performance management process, as well as an important part of employee engagement. You can do this with a simple thank you, social recognition, or a full-scale employee rewards program that regularly recognizes and rewards excellent performance in the organization.
- 10. Benefits of Performance Management Integration Open Communication Improved Performance Training and Development Clarity of Standards/Requirements Placement of Individuals Increased Objectivity Equitable Remuneration Objective Promotability Structured Career Planning
- 11. Issues With Performance Management Legal issues. Untrained raters. Rater errors. Rater distortion. No grievance procedure. 11
- 12. The Performance Management Policy The goal setting, mid-point, and summary evaluation conversations must be documented. Supervisors must conduct at least four performance management activities with employees: Expectations and goal- setting conversations Informal conversations Mid-point conversation Summary evaluation
- 13. Key features of effective performance management software Customization: It should be customizable to suit your organizations industry and performance management strategy. Transparency: It should be able to eliminate the confusion that both managers and their teams experience in the process of performance management. Objectivity: It should be able to offer objective metrics on which managers can base their performance evaluation. Frequency: It should allow for real-time, instant feedback and periodic employee ratings.
- 14. Conclusion Effective management of individual and team performance is a crucial and central requirement to ensure stakeholder requirements, organizational strategy and business goals are attained. This requires accurate data regarding performance levels of business units, teams and individuals, and therefore the need for a standardized and formal performance management system.
- 15. References www.google.com www.wikipedia.com www.studymafia.org www.pptplanet.com
- 16. Thanks
Editor's Notes
- 1
- When completed, the appraisal becomes part of the employee’s personnel record, and it is from these documents that many employment decisions are made. An employee’s compensation level and opportunities for training or job promotion are often made based on performance appraisal ratings, as are organizationwide decisions on retrenchment and layoffs. As a result, it is imperative that performance management activities are nondiscriminatory and that all employees receive a fair process with equal opportunity within the organization. Information in employee files can be skewed by untrained managers who make errors or inadvertently distort information. It is important that managers are trained in performance appraisal and that the HR department monitors activities to ensure that performance appraisal documents are consistent across departments. For example, if one manager is especially harsh in ratings and employees in that department are rated low and another manager is especially lenient and gives staff high ratings, the result is inaccurate appraisal documents that don’t reflect employee performance, giving an unfair advantage to staff whose appraisals are written by the lenient manager. It is important to have a grievance procedure in place for employees who may not agree with their appraisal ratings. Due process is vital. Employees need an unbiased ear where their issues can be heard and addressed objectively.