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Performance Management Project - Essay Example

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For business graduates, it has become essential to understand basic principles of Performance Management. In the report of Performance Management, an overall discussion will be done…
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Performance Management Project
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Download file to see previous pages Performance management systems are not built out of the blue. In fact, there is always some basis of establishing the system of performance management. Policies of performance management comprise immensely on the internal structure of the organization. The entire formation of the policies of PMS is based upon the structure, requirements, position and condition of the organization and its employees. A performance management system is vital because it benefits the organization in ensuring that the day to day activities of the organization and its employees are aligned with the goals and objectives of the organization. Performance management system not only benefits the organization but it also benefits the employees by providing them with continuous feedback about their performance and also provides them with the opportunities to enhance their performance.
The most critical aspect which had been overlooked is that not only achievement of goal is crucial but how the goals are attained is equally considerable as it reflects the element of Corporate Social Responsibility. The idea that implementation of PMS will immediately improve the employee’s performance is quite unrealistic. To obtain the full potential benefits of performance management system, the organizations needs to invest with resources so that managers and employee own that system, otherwise the system will be treated as obligatory activity and neither the organization nor the employees will enjoy the benefits of this system.
Any PMS will cannot be complete or perfect and when the organizations evolve, their PMS must also evolve accordingly. This report will evaluate some common issues related to the system of performance management and will also provide recommendation about how the PMS can be implemented effectively.
Generally, performance management is the procedure to ...Download file to see next pagesRead More
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