Performance management - Research Paper Example

But the hard fact is, it is lot easier said than done, and therefore, strategic planning of all the factors is considered before implementing performance enhancer’s techniques in the organisation. It is an ongoing process of analysing the key areas of an employee and taking the necessary steps to develop those areas. Thus, the challenges faced by the organisations in implementing the strategies and methods will be discussed thoroughly in the paper. PricewaterhouseCoopers (PWC) is one of the leading specialized services firms in Australia.

It commenced its accountancy practices in Melbourne in the year 1874, and it now employs more than 161,700 people worldwide, after merging with Price Waterhouse and Coopers & Lybrand in the year 1998 (PWC, 2012). The employees are dedicated to depict excellence in assurance, tax & legal, advisory and personal client services. From improving the Australian health system to playing an important role in a number of the Australia’s largest deals are few of the services that the organisation is committed to (PwC, 2012).

Therefore, as PWC is responsible for a few of the works that are associated with the government, it is very important for the organisation to be ideal in the performance department. The management needs to continuously evaluate the performances of the employees and develop a trust among them. In order to enhance their performances, certain important tools need to be implemented, which ultimately will derive the organisational goals. The Role and Nature of Performance Management Systems in PWC The core principles of PWC are achieving excellence, developing teamwork and inspiring leadership.

The organisation believes that distinction can be achieved by bringing in what has been promised and adding up worth. The strategies to retain and to attract the precise talent in the organisation are also considered as one the performance enhancer tools of the management. Therefore, the lacking in terms of hiring right.