INTRODUCTION In the era of global competition, organizations are more inclined towards the creation of high performance work culture which would significantly help in the attainment of organizational goals and objectives. To effectively support the performance work culture, it has been incorporated by retail organizations in business and strategic strategies (Armstrong, 2007; Boxal and Purcell, 2008; Fletcher and Williams, 1996)…
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Moreover, by evaluating and analyzing the performances of the organizations as well as the performance of the individuals working in the organizations, the management is able to formulate strategies that could further help in improving the productivity of the organization. Therefore it can be said that the performance management tools and performance management of employees help in improving productivity as well as in helping firms to gain competitive advantage. According to Armstrong (2006), employee performance management is the process in which employees are provided with significant opportunities to develop and nurture their skills and knowledge for the achievement of organizational goals and objectives. Having mutual understanding between the manager and the employees is quite essential in the employee performance management as the employees tend to maximize their efforts for the accomplishment of organizational goals (Leopold et al, 2005). Therefore, establishing employee performance management is quite essential for the organization to increase its overall productivity along with the level of performance in the market. Performance management is a process that ensures improvement in both quantity and quality of work and activities taken into consideration by the organization. In addition, the process helps the organization in aligning all the activities with the organizational goals and objectives (Leopold et al, 2005). By identifying the areas of improvements and areas where the organization has its strengths, the organization is in a better position to make important strategic decisions and help in achieving competitive advantage particularly when the organization is operating in a highly competitive industry such as retail industry. The level of competition in the retail environment has significantly risen and the organization has to deal with variety of employees, due to which the implementation of performance management has become a necessity to achieve the organizational goals while sustaining the business for long-run in the market (Jones et al, 2005). The purpose of this study is to evaluate the process of employee performance management. In order to do so, the importance and benefits associated with the employee performance management have been taken into consideration. Moreover, the retail industry within UK’s competitive environment has also been taken into consideration. For the effective evaluation of employee performance management, a case study of the UK retail industry has been presented in the study. Lastly, recommendations have been provided with an aim to help the organizations operating in retail industry to enhance the level of performance along with the overall productivity within the competitive retail landscape. EMPLOYEE PERFORMANCE MANAGEMENT Employee performance management, in simpler words is the process that allows the establishment of shared workforce understanding by motivating the managers and employees to have mutual understanding regarding the attainment of organizational goals and objectives. Employee performance management ensures that the employees would work towards the attainment of desired organizational goals rather than just the personal goals. With the help of this process, the objectives of the
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The SAFRI was expected to generate total revenue of $73.9 billion in 2011 which amounts to compounded annual growth rate (CAGR) of 11 percent between 2007 and 2011. The most lucrative areas in food retailing are expected through hypermarkets, supermarkets and discounters in South Africa.
The human resources are considered as the most essential assets in contemporary organizations since properly managed, they are a source of sustained competitive advantage. They can also make or break an organization depending on the way they are handled or the relationship that exists between employer and employees.
The idea of management of performance is not new; the need of managing performance has long been recognized (Williams, 2002, p. 1). Nowadays, organizations have developed systems of performance management which cascade the strategy starting from the executive suite down the line till the basic level in the organizational structure (Eckerson, 2010, p.
The kind of rules or policies accompanying this kins of the system determines employee attitude towards his or her job. Though accompany must establish a performance management system that govern employee performance, the rules must not be
Many retailers have resigned themselves to accepting this kind of turnover rate as a "cost of doing business" (Joinson, 1999). The costs associated with recruiting, retraining, diminished customer loyalty, and many other consequences of high turnover rates can be staggering.
CMM/CMMI are qualitative models offered at an abstract level which explains the attributes and key practices assumed at five stages, from the first stage typified by informal management practices and untidy processes through to the last level where continual development has become institutionalised.
the lack of appropriate communication and cooperation between the employers and the employees can be regarded as the most important reason for the high staff turnover level which characterize most organizations internationally. However, there are industrial sectors, like the IT,
The author states that there are tangible and intangible values closely knitted with the concept of performance management system. Employees usually set performance indicators in order to improve performance level. Performance management system can be stated as an approach to implement, define, refine and assess organizational strategy.