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Outline I. Performance Management is a tool that allows managers to monitor as well as evaluate employee’s performance. It allows HR to create a creative and healthy work environment and encourage their employees to work to the best of their abilities. In this essay we will be discussing the different types of performance reviews and why they are important to the companies’ overall goals. A. Common problems associated with performance management systems I. Lack of management II. Poor communication III. Lack of consistency B. Benefits to PMS as well as strategies for success I. Define objectives II. Utilize Performance management software III. Offer frequent feedback IV. Peer reviews V. Recognition II. What are the elements to performance management?
A. 4 Essential elements a. Purpose b. Outcomes c. Accountability d. Teams B. Performance Reviews a. Ranking-employees ranked from highest to lowest b. Peer reviews c. 360 feedbacks d. Competency- employees being compared to the specific competencies set in place by the company e. MOB (Management of Objectives) f. Phycological appraisal g. Behavior anchoring scales III. Common Performance Rating errors IV. Performance Improvement Plans A. What they are and how they benefit the goals V. Conclusion: Performance Management is in place to improve the overall all performance in a workplace but also to make the employees feel valued with that company. Human resources in responsible for fully understanding the benefits to using performance management as well as the different types to receive the best results. Individuals are significantly more likely to do good work in they fully understand why is expected of them. Resources Pollock, S. (2018, January 7).
6 strategies for Effective Performance Management. HR Daily Advisor. Retrieved January 25, 2022, from https://hrdailyadvisor.blr.com/2018/01/11/6-strategies-effective-performance-management/ Jangid, A. S., McVicker, A. D., Beck, A. H., Lakshminarayanan, A. A., Kova?evi?, A. A., NT, A. B., & Levy, A. E. (2019, March 1). 10 strategies for Effective Performance Management. Big Data Made Simple. Retrieved January 25, 2022, from https://bigdata-madesimple.com/10-strategies-for-effective-performance-management/ Anderson, C. (n.d.). Finding the right purpose for performance management. Talent Management System: Future-Ready Employee Experience. Retrieved January 25, 2022, from https://www.cornerstoneondemand.com/resources/article/finding-right-purpose-performance-management/ Miles , J. (2021, April 27). The four essential elements of Performance Management. Generator Talent Group. Retrieved February 6, 2022, from https://www.generatortalent.com/four-essential-elements-of-performance-management/
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