Current Trends in Talent Management
February 12, 2025
Career Options in Our Parents and Grandparents Generations In our grandparents and parents generations, it was the norm to choose careers that offer job security, preferably life-long employment, and those that provided pension and other benefits. Indeed, such was the lure of these aspects that many among those generations chose to work for the government […]
How Automation Leads to Transparency and Accountability in the Appraisal Process It would be an understatement to say that technology would be a game changer for all Human Resource Management (HRM) Processes. By automating the routine tasks and using data analytics as well as big data, HR Managers can ensure that the end to end […]
Introduction Continuing with our series of articles on HRM practices in successful companies, this article examines the performance management practices of those companies that have managed to be in the FORTUNE “100 Most Admired Places to Work in” consistently. To put it in perspective, just twenty odd companies have remained in this list throughout the […]
Types of Skills In a world where unprecedented change and relentless competition between individuals, companies, nations, and other players is the norm, to succeed, one must have the right skills. The skills that are acquired as part of the formal education are one aspect and those acquired on the job as well as from informal […]
Do’s of Linkedin Profile Picture: Many people ignore this crucial aspect. If I talk about from my personal experience, I rarely accept a connection request which has an empty blank profile picture. And make sure that your profile picture is not an image of some Bollywood actor or Hollywood actress or any landscape. This should […]
Performance management is an integral component of talent management that is aimed at ensuring that organizational goals are being met effectively and efficiently through individual and collective performance. It can thus encompass an individual employee, a department, a team, or even a process to build a service or a product.
Dr. Aubrey Daniels in late 1970’s used this term to describe a science for managing and enhancing both behavior and the results. It is this behavior and results that amounts to the performance of an employee. This is primarily achieved through attitudinal interventions. It was also defined as a strategic and integrated approach to increasing the effectiveness of organizations by improving the performance of the people who work in them and by developing capabilities of teams and individual contributors (Armstrong and Baron - 1998).
Performance management is most often used in professional organizations where the results and behavior of a certain course of actions has financial implications. Otherwise we can use it anywhere we wish to or enhancing people performance like sports, education, NGO’s, anywhere where there is an interaction between people.
Through performance management, organizations aim to align personal goals of employees with organizational goals and increase the overall efficiency, productivity and profitability for the larger benefit of the latter. There is no cap to the number of individuals on which it may be applied. It can be applied to one single individual or the entire department.
Typically the following steps are involved in performance management:
In commitment analysis a job mission statement is made for each job or process which is a job definition in terms of product, scope and purpose. Here the key objectives are outlined and performance standards are set against the same.
Work analysis follows next; this underlines the reporting structure and job description. Finally performance standards and expectations are set against each job or process keeping in view the efficiency and effectiveness both.
Employee performance management is of key benefit to organizations in helping them realize effectively the strategic and operational goals. In organizational behavior lexicon, performance problem is a gap between desired and actual results and performance management seeks to address just the same problem. There the effort is called as performance improvement. The guidelines that determine whether or job is being carried out effectively is based upon factors like whether the work is planned and clear expectations are set, work performance is monitored, staff is trained and developed continuously for a certain job etc.
The benefits of performance management are both financial and non financial in nature. Financial benefits include growth in sales, reduction in costs incurred, organizational alignment with the vision and mission, decrease in lead time.
In addition the workforce is motivated to a greater extent, employee engagement is enhanced, the incentive plans are optimized as per specific target or goal achievement and the importance professional development programs is better understood and made used of in learning and development. The management gains more control over its human capital, a transparency is ensured, work efforts are rewarded befittingly which boosts employee morale.
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