A2- Performance management Strategies Flashcards
Performance management (performance apprisal)
a focus on improving both business and individual performance through relating business performance objectives to individual employee performance objectives
1.Allows feedback to be given to employees
2.Acts as a measurement to determine promotion and pay rises
3.Identifies employees training needs
Performance Management Strategies- Management by Objectives
a process by which management and employees agree on a set goal for each employee, with these goals all contributing to the objective of the business as a whole.
Parts of managemnt of objectives
-Business objectives are clearly defined
-Individual employee goals are negotiated
-regular monitoring of progress
-Performance feedback
-Performance appraisal on achievement of goals
Advantages of management of objectives
-employees who are involved in goal setting are more invested and motivated to fulfill their goal (productivity)
- Can highlight area that employee needs training in (career development)
-Usually more structured and organised, with clear assessment processes
Disadvantage of Management of objectives
time-consuming
Failure to meet objectives could be demoralising
Performance management strategies-Appraisal
the formal assessment of hoe efficiently and efficiently an employee is performing their roles in business
-Typically occurs at frequent intervals, such as every 12 months, every six months or every quarter.
-can be formal or informal
Methods of appraisal
Essay- manager keeps a journal on eacj employer
Critical incident- Only noting down exceptionally good or bad aspects of the employees work
Comparison- employees ranked according to predetermined performance criteria. Could be rating scales (1-5) ect
Advantages of appriasal
-Facilitates communication and positive relationships between management and employees
- information can assist managers in making decisions about pay increase or promotion
disadvantages of Apprisal
-time consuming
-Staff who meet or exceed standards may expect promotion which can be expensive for a business
Performance Management Strategies- Employee self-evaluation
a process whereby employees carry out self-assessments, based on a set of agreed criteria
What do people ask themselves in self evaluations?
-what are my strengths?
-what are my weaknesses, and what can i do to overcome them or reduce their impact on my work performance?
-What could i have done better during the period under review?
-What initiatives can i take to become a better employee in the future?
Advantages of self-evaluatiom
-can highlight the need for trainign and allows employees to request access to training
-Allows employees to be actively involved in the process of performance management and assists them in understanding their role in the business
Disadvantages of self evalution
-Employees an overstate their performance
-Management may need to take some responsibility for monitoring performance
Performance management strategies- Employee observation
Involves collecting a variety of views and opinions on the performance of employees to gain a comprehensive range of feedback and a more holistic view of performance
Employee observation- 360 degree feedback
Where an employee receives feedback from:
Themself
Superiors
Subordinates
Colleagues
Customers
Suppliers
