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Portfolio Project Part 6 - Assignment Example

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Portfolio project Name Institution Portfolio Project Performance management is the process that significantly influences organizational success. Managers and employees work hand in hand and as a team to set goals, objectives review outcomes and reward performance…
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Download file to see previous pages In order to measure the performance of an accountant, it is significant to use the critical incident and BARS methods. A combination of these methods would sufficiently measure the performance of an accountant in the company. A performance management should be able to give employees unbiased, constructive feedback on their performance. In order to ensure success of performance management of an accountant, reviews and measurement of the worker are normally done annually. Measure of improved performance The following combined methods will be used to measure the performance of an accountant i. Critical Incidents ii. Work Standards iii. Straight or Simple Ranking iv. Paired Comparisons v. Rater distribution Using the straight or simple ranking, the accountant will ranked according to overall performance. He or she will be compared with other employees. In addition, all comparison will be based on single criterion, such as overall performance. This is effective because it Compares performance of each employee with every other employee in the group. Using the forced distribution method, I will be able to understand how the accountant has performed. This is because the rater assigns individual in work group to a limited number of categories similar to a normal distribution. Further, it assumes all groups of employees have the same distribution (Mondy & Mondy 2010). In rating work quantity of the accountant, i will give careful consideration things such as effect of employee on the general flow of work, amount of work produced in terms of the specific job especially annually, employee’s application to the job, and skill in handling specific assignments of the company. I will award the score as follows: poor, 1 to 6 points; average, 7 to 18 points; good, 19 to 25 points. In turn, I will be able to understand if the accountant has improved performance or not (Smith & Mazin, 2004). BARS and performance evaluation The Critical Incident Method is a form of performance appraisal method that requires an individual to keep records and all relevant information of both good and bad employee work behaviors. In case a critical incident influences the company’s ability to operate either negatively or positively, the manager records the information. The BARS method is very effective in portfolio management of workers since it is easy to monitor the actions or behaviors of the worker while at work (Mondy & Mondy, 2010). For instance, when an employee misuse the company resources for personal use, it is easy to report the case to the manager. When it comes to accounting, this method is applicable in the sense that when an accountant makes valuations and evaluation of the company’s expenses and profits for a week, month, or a year, it is easy to monitor the trend of their actions. If the accountant kept the records in a timely way, the management can easily detect problems in their financial system and come up with ways to improve its financial control systems. The BARS especially the critical incident method can also be applied as a means of job analysis in the sense that it helps analysts to determine actions that are focused on work and other work activities. It helps in making an entire analysis of work and permit transparent performance leading actions to be targeted (Smith & Mazin, 2004). In evaluating performance of a worker, it is vital to have job description and specification. This is because Job descriptions offer precise and a concise ...Download file to see next pagesRead More
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