Managing, Evaluating and Developing Human Resources - Case Study Example

However, owing to rising stiff competition the company has had to rethink its strategies. The senior manager, Sam Mulgrew, faced challenges integrating performance management into achieving the strategic direction of the company as his area of expertise is accountancy. Performance management came into focus as an aspect of Human Resources in the 1990s and can be said as being responsible for rating, rewarding, monitoring, developing and planning of employees in order to ensure their efficient and effective performance (Armstrong &Baron 2005).

Because performance management process is a broad domain that encompasses various levels along with functions within an organization, performance management is a process that calls for managers to look into its individual components and integrate them into the strategic goals of the organization accordingly. Its individual components essentially bring out the fact that performance management is associated with improvement; this implies that one must undertake an assessment and receive feedback to identify which areas need improvement and how this improvement would occur (Grote 2005).

Nonetheless, the process is much wider than merely carrying out an assessment and receiving feedback, as there are other steps including the manager tasked with performance management having an understanding of the organizational context. This means that even before the manager begins carrying out an assessment of how employees are performing and receiving feedback from managers, he must understand the organizations’ strategic objectives as well as its core values. Once the manager has grasped these contextual factors, he begins by finding out if the right employees have been brought on to the organization (Cardy &Leonard 2011).

Sam Mulgrew has been tasked with lifting the performance management standards at Money4U to make it more meaningful and