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Elements Of Performance Management
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An effective performance management system should be designed to include the following three broad elements: goal setting, performance review and a performance improvement process. Synture Group employers may use a multitude of options in the execution of the performance management process, but an effective system will incorporate the three basic elements in some form.
These elements are as follows:
1. Goal setting
Goal setting is a process of establishing objectives to be achieved over a period of time. It is the performance criteria an employee will be evaluated against. Performance goals for individual employees should ideally align with organizational goals. Setting clear and specific performance criteria is critical to achieving effective performance results.
Common types of goals include the following:
Job description goals - Goals may be based on the achievement of a pre-established set of job duties from the description. These goals are expected to be accomplished continuously until the job description changes. Examples might be financial, customer oriented, or process- or system-oriented goals.
Project goals - Goals may be based on achievement of Project goals. Goals may be based on achievement of a project objective. These goals may be set for a single year and changed as projects are completed. Job description and project goals are "what" needs to be accomplished.
Behavioral goals. Goals may be based on certain behaviors. These goals are expected to be accomplished continuously. Behavioral goals are "how" things need to be accomplished.
Stretch goals. Goals that are especially challenging to reach are sometimes referred to as stretch goals. Stretch goals are usually used to expand the knowledge, skills and abilities of high-potential employees.
In addition to focusing only on a few major goals during a single year, the goals should be SMART, Specific, clear and understandable, Measurable, verifiable and result-oriented, Attainable, yet sufficiently challenging, Relevant to the mission of the department or organization, Time-bound with a schedule and specific milestones.
Finally, effective goals should be participative. Both manager and individual should be involved in the development of goals to ensure understanding and commitment. Goals should be documented. Whether documented in electronic or hard copy format, goals need to be stored accurately, be available for review, and be managed on a continuous basis and acknowledged. Goals should be flexible enough to account for changing conditions. See Employee- Crafted Goals Pay Off.
Examples of effective goals according to Synture Group professionals:
Increase revenue by 10 percent during the first quarter.
Reduce office expenses by 25 percent as compared with the prior year's actual costs.
Decrease employee absences from three days to one day per quarter.
2. Performance review
Performance review is the process of assessing an employee's progress toward goals. Strengths and weaknesses of all employees are recorded regularly so that the organization can make informed and accurate decisions regarding an employee's career development, training needs, promotional opportunities, pay increases and other topics. Performance review and evaluation involve the objective and subjective consideration of how to measure and evaluate employee performance results.
Elements of the review process are applicable across industry sectors and organizations. However, the structure and tools used by each specific organization may vary. The performance review process focuses on how each review is implemented.
Minimum standards for an effective performance review process include:
A feedback process that is continuous and timely throughout the review period so that employees know how they are doing and what is expected.
A dialogue that includes performance feedback measured against clear and specific goals and expectations established at the outset of the performance management cycle.
A process for acknowledging the outcomes of the performance review process that is documented between the manager and the employee.
A two-way individual conversation between the manager and the employee (preferably face-to-
Manager and the employee (preferably face-to- face) at least once a year.
Regardless of the type or format of the selected method to review an employee's behavioral and work expectations, clear definitions of each level of performance must be provided. Raters should be provided with examples of behaviors, skills, measurements and other performance factors to assist them in making a decision. Synture
3. Performance improvement plan standard
The uses of a performance improvement plan (PIP) may range from employees who may be new to a role or who are unclear on performance expectations to employees who are regularly not meeting performance expectations and whose performance may necessitate the beginning of a progressive discipline process regarding the performance level.
The document used to guide the process is a critical tool as it helps facilitate performance discussions, records areas of concern and ways to correct them, and serves as legal and decision-making documentation. The format of the PIP will vary by employer and should include the all the components.
Synture Group offers marketing & sales pipeline strategy for various companies and businesses in Indore India. Our Proven methodology delivers real results based on buyer insights, business acquisition and market-driven best practices. Our marketing and sales professionals drive engagement through intelligent customer analytics and improve your business.
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