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Performance Managment: Coca Cola Company, Hilton Hotels Corporation - Essay Example

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According to Chen (2011), performance management is a procedure or a method by which personnel and managers agree on the goals, responsibilities, and the means of attaining organizational success. …
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Performance Managment: Coca Cola Company, Hilton Hotels Corporation
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Performance Managment: Coca Cola Company, Hilton Hotels Corporation

Download file to see previous pages... Performance management is regarded as a fundamental constituent in human resource management. Performance management is established in areas, such as job analysis, which offers a way of establishing responsibilities of some positions through forming indicators for evaluation. Performance management is also a significant aspect of determining the compensation of employees. Moreover, it also helps the human resource departments in organizations to identify the strengths and weaknesses of employees’ performance and subsequently improve on the weak areas (Newcomer & Caudle 2011). This paper evaluates critically the performance management case studies in two different organizations, the Coca Cola Company in India and Hilton Hotels Corp in China with an aim of exploring its effectiveness, advantages, challenges and implications. It will also propose strategies to handle effectively the challenges of performance management in organizations. An overview of Coca Cola Company, India The Coca Cola Company enjoys a large international market in the beverages and soft drinks industry. The company has a goal of creating a world class organization, which operates with excellence to enhance consumer experience, employee capability, organization profitability, and customer satisfaction. Coca Cola effectively links the mission and the visions of the company to ensure that the company functions excellently. The company practices performance management by applying the performance management systems within the organization. It practices performance management by implementing several objectives in their annual business cycle. The annual performance of the employees and the organization is reviewed, the performance for the next year is planned, and high performing employees are recognized and rewarded. In addition, throughout the performance review process, the results are assessed, key performance indicators are set, and the eventual results reviewed. Performance management in the organization includes the yearly appraisal of the job performance of the employees, the processes used to communicate the expectations of the job, and offer continual performance feedback via end year performance rating. As a result, the performing workers are rewarded through promotions, compensation, and additional decisions agreed upon by the company (Herman, et al. 2002). An overview of Hilton Hotels Corp, China Hotel industry is essential business in China because of the role it plays in the development of national economy and the lives of people in the country. The hotel industry in China has progressively grown because of the advances in technology and the large market in China’s population. Competition is very high in the hotel industry in China where the conventional method of competitive products and technologies are replaced with talent competition. Hilton Hotel Corp is competing to break into the hotel industry in China through attracting, training, developing, and retaining the talented workforce. Further, Hilton Hotel Corp improves the work performance of the organizational employees in order to raise the performance of the hotel. The managers play a very important role in the hotel corporation to ensure that high performance is achieved. The Hilton Corp practices performance management via implementation of performance management programs. The hotel intends to maximize its productivity and enhance the value of the shareholders. In order for the company to improve its effectiveness, several innovations have been made in performance management. There is the emergence of new management tools and models of performance ma ...Download file to see next pagesRead More
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