Introduction
It is necessary to note that performance management is a fascinating topic that has drawn the attention of many scholars. It can be described as a set of activities focused on the improvement of productivity, and its purpose is to ensure that the goals of the company are achieved. The demands of consumers are growing at rapid rates, and most firms are focused on the enhancement of their operations. Many techniques and methods were developed over the years, and they are often improved. It would be reasonable to examine a broad range of peer-reviewed articles and books on this subject matter and focus on the methods used in modern organizations.
Discussion
Many strategies and frameworks were suggested over the years, and it is necessary to examine some of them. For example, the corporate performance management model is focused on five principles. The author states that it is reasonable to determine a person that would be responsible for the whole process, and an office also must be deployed (Paladino 48). Another principle suggests that the strategy needs to be modified, and various tools may be used to communicate the changes. The third one is focused on the management of the plan. In other words, it is important to ensure that activities are aligned with the goals of the company.
The next one devotes attention to the improvement of performance levels. Finally, the last principle suggests that available knowledge needs to be utilized and managed efficiently. The last principle is particularly interesting because many modern systems help with the process. One of the most significant aspects of the process is feedback. A manager should be aware of what methods must be used to deliver crucial information to the workers. The problem is that it may lead to anxiety, and other complications (Cardy and Leonard 144). Furthermore, it is important to establish a supportive atmosphere in the organization. One should be confident in the accuracy of assessments because it may affect the relationships with employees.
It is suggested that performance management should be viewed as a top priority by supervisors because it is a central process that helps to reach particular goals and objectives (Gruman and Saks 123). Researchers suggest that work engagement is a key criterion that affects the performance of workers, and it is reasonable to adopt a model that is focused on this factor. Moreover, it needs to be managed efficiently to achieve the best possible results.
Understandably, it is not an easy task to justify the expenses on such activities most of the time. However, data regarding the performance of employees may be collected and analyzed to determine the progress that has been made. It is imperative to understand that several techniques may be combined to increase the efficiency of the whole process. For instance, such tools as a balanced scorecard may be used, and affect strategy as a whole (De Waal 132).
First of all, Key performance indicators must be introduced, and they should be closely connected with the strategy and missions of an enterprise. A scorecard needs to be updated when it is necessary, and it is important to set a budget. The process of forecasting is also vital, and it would help to determine if expectations were met or not. A manager should monitor the process of work and deliver the information to higher-ups. The data received may be analyzed, and alterations to the strategy may be considered. A forecast may be adjusted according to the modifications. The plan needs to be revised because the introduction of new information may influence most of the operations in a firm.
Another aspect worth highlighting is that the role of modern technologies in performance management has been increasing over the last few years, and some of them are incredibly efficient. For instance, online evaluation is a useful tool because it helps to address some of the issues like anxiety, and an individual is more likely to be relaxed during the process. Such systems help managers to focus on other vital activities, and they may participate in discussions and meetings much more frequently.
Many software programs related to performance management are currently available on the market, and most of them have proven to be incredibly useful. The problem is that many firms prefer standard approaches, and performance levels suffer as the result most of the time. The implementation of such systems may be quite problematic because it will require enormous time and resources. However, external specialists may be hired, and they will guide employees through the whole process.
New technologies allow conducting assessments much more frequently because they are relatively inexpensive. Moreover, it is much easier to collect and store the data. Therefore, it is possible to identify areas that are the most problematic and should be addressed. The focus on evidence is also incredibly important, and firms are trying to utilize only the methods that have proven their effectiveness. Outdated techniques are eliminated, and they are replaced with more efficient ones.
The comparison of current results and desired outcomes is an essential part of the whole process. The factor that has caused discrepancy needs to be addressed and improved, and it needs to be a continuous cycle. It is reasonable to examine the strategies utilized by other firms in the sector, and received information may be incredibly valuable (Kenny 172). Moreover, the experience of foreign countries also should be taken into account.
Understanding of strategic factors that may influence the business is paramount, and the needs of internal and external stakeholders must be acknowledged. Their opinions are of utmost importance, and they should be provided with tools that can be used to communicate ideas and suggestions. It may be reasonable to conduct a training needs analysis to determine if any knowledge gaps that may affect performance are present. Overall, the approach is particularly important when new techniques or technologies are implemented.
Conclusion
In conclusion, it is hard to argue with the fact that performance management has an enormous role in modern enterprises. Supervisors utilize a broad range of techniques to ensure that no complications occur, and positive results are achieved. The understanding of the concept has increased over the years, and systems are much more efficient than they used to be in the past (Nel 10). The focus on innovative tools and methods of communication is crucial, and it is expected that their influence is going to increase in the future. Cooperation between the management team and employees is incredibly important. Overall, it is quite evident that an understanding of performance management is critical, and implementation of the latest approaches would be highly beneficial.
Works Cited
Cardy, Robert, and Brian Leonard. Performance Management: Concepts, Skills and Exercises. 2nd ed. 2014. New York, NY: Routledge. Print.
De Waal, Andre. Strategic Performance Management: A Managerial and Behavioral Approach. 2nd ed. 2013. New York, NY: Palgrave Macmillan. Print.
Gruman, Jamie A. and Alan M. Saks. “Performance management and employee engagement.” Human Resource Management Review 21.2 (2011): 123-136. Print.
Kenny, Graham. Strategic Planning and Performance Management, New York, NY: Routledge, 2012. Print.
Nel, Belia. “The Demise of Traditional Performance Management Systems.” Performance Improvement 55.3 (2016): 10-12. Print.
Paladino, Bob. Five Key Principles of Corporate Performance Management, New York, NY: John Wiley & Sons, 2011. Print.