Performance Management Overview

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Performance Management Overview

HR Helpboard

@hrhelpboard

April 19, 2022

Hr Summit

258

Introduction of Performance Management

Performance management is a corporate management technique that assists managers in monitoring and evaluating the performance of their staff. The goal of performance management is to create an environment where people can reach their maximum potential and produce high-quality work in the most efficient and effective manner possible.

Performance management provides a plan for establishing, managing and continuously enhancing employee performance. Accurate paperwork, kept up to date for each employee, keeps track of their progress.

Three Phases of Performance Management

In Performance management there are three phases for employee development coaching, corrective action and termination

What is Coaching?

The process of orientation, training and Development encourage the staff is referred to as coaching. The performance standards and expectations both are highlighted during coaching. All the employees including new and experienced employees receive continual feedback on their performance. Employees are also encouraged to challenge themselves to develop on a continuous basis.

What is Corrective Action?

Corrective action is the process of communication with an employee to improve performance or change behavior. All the employees are required to perform at a high level and act professionally in the workplace.

Termination

If the employee performance does not improve and does not reach expected standards as per the time frame given to the employee during the corrective action plan, it’s time to take a corrective action which may result in termination of an employee.

Dimensions of Performance Management

There are seven dimensions of performance management. They are:

Result and output
Input
Time
Focus
Quality
Cost
Output

Result and output Dimension #1

Result and output are the two most important and measurable dimensions of performance. It describes the final form of a product or service as a result of inputs such as raw materials, working circumstances, process capabilities, and employee talent. All performance actions must be planned in a scientific and systematic manner in order to achieve the intended outcome or output.

Input Dimesnion #2

This dimension input deals with the activity that has to be achieved by the employee as performance is a product of three sets of factors – ability, motivation, and organisational support – it may be attained if the nature of inputs can be managed without making mistakes. The performance will be poor if any of these three factors is less than ideal.

Time Dimension #3

Time is a precious dimension of performance management. In today’s scenario performance management must be time-bound, otherwise an organizational survival would be difficult in the future.

Focus Dimension #4

The fourth dimension of performance management is focus. As in case of sales and profits and new areas. The meaning of focus is attention and it should be not only on own activities but on other related activities also.

Quality Dimension #5

Quality refers to doing thing correctly right from the first time rather than making mistakes and then correcting it in order to enhance customer satisfaction. The higher the level of quality would be higher would be the customer satisfaction.

Cost Dimension #6

This dimension of performance management emphasizes on cost with best quality. It refers to a company unit's ability to produce a specific commodity at a reduced cost by making better use of current resources. It is the process of lowering costs by increasing operational efficiency.

Output Dimension #7

An understanding of the input output relationship is very important. The goal of input-output analysis is to discover the economy's interdependencies and complexities in order to understand the conditions for sustaining demand and supply balance. It describes the inputs needed to produce the products of various economic sectors. It also entails the investigation of industry-to-industry exchanges of commodities and services.

Conclusion

Performance management is an ongoing dialogue between the employee and employer. Expectations, data gathering, continual feedback, development planning, performance reviews, and follow-up are all part of performance management.

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