Business - Performance Management Essay Example | Topics and Well Written Essays - 2000 words

Business - Performance Management - Essay Example Task 1 Performance management: The business organizations thrive on the operational performance of the organization along with the profitability it aims in achieving. In the aspect of organizational development, the overall difference between the result achieved and the expected result is termed as the performance of the organization. In order to achieve optimum performance various measures are incorporated by the organization and the concept of performance management is of high importance. The performance management enables employee of the organization to work towards a common goal. Various tools in the performance management system help the employees of the organization to understand the overall aims and objectives of the business. As the overall success of any organization depends a lot on the individual performance of the employees, it is important for them to have a transparent idea regarding the goals and the vision of the organization. The employees of the organization are mad e aware of the roles and responsibility which they need to carry on in the organization. ... The performance management of any organization contributes to the best practices of Human resource maintained in an organization. Few of the best practices followed in the organization are, providing bonus to the employees based on the overall performance, collecting feedback from the employees, identifying the contribution of the employees and providing them with rewards for the achievements gained. All this best practices maintained by the organization are generated from the concept of the performance management, as these are the various units of the systems (Rao & Rao, 18). The awareness regarding the performance is also provided to the employees and it helps them to analyze their strength and weakness and provides the employees with suggestion regarding improving the level of the performance. Such feedback mechanism helps the employees to gain confidence and it as a motivational tool for the employees to deliver their best for the organization. Performance management of the organ izations is carried out in a regular basis and the changes in the parameter happen on a regular basis depending on the attributes of measuring the workers performance. (The importance of Performance Management) Task 2 Performance appraisal: The process of performance appraisal is one of the key tools which are used by the organization in measuring the performance of the employees in the workplace. The performance appraisal system evaluates the performance of the employees as the performance is one of the critical factors for the organizations success. According to the high commitment HRM system, the performance appraisal is one of the basic requirements so that the employees can understand the level of the performance and identify the