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MBA Performance Management

This document summarizes a seminar on performance management. It defines performance management as an ongoing process where supervisors and employees work together to plan, monitor, and review work objectives and goals. It outlines the typical performance management cycle of planning, monitoring, developing, rating, and rewarding employee performance. It also discusses benefits like improved performance, as well as potential issues like legal concerns and rater errors. Finally, it emphasizes the importance of effective performance management systems and software for organizations.

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Arjun Arjun
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50 views

MBA Performance Management

This document summarizes a seminar on performance management. It defines performance management as an ongoing process where supervisors and employees work together to plan, monitor, and review work objectives and goals. It outlines the typical performance management cycle of planning, monitoring, developing, rating, and rewarding employee performance. It also discusses benefits like improved performance, as well as potential issues like legal concerns and rater errors. Finally, it emphasizes the importance of effective performance management systems and software for organizations.

Uploaded by

Arjun Arjun
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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www.studymafia.

org
Seminar
On
Performance Management

Submitted To: Submitted By:


www.studymafia.org www.studymafia.org
Table of Content

 What is Performance Management?

 Performance Management Goals

 Performance Management Cycle

 Benefits of Performance Management

 Issues With Performance Management

 The New Performance Management Policy

 Key features of effective performance management software

 Conclusion
Introduction

 Performance Management is a key process in any organization and


should assist the management and staff to focus on the key issues
and business objectives to ensure sustainability.
 Traditionally, performance management has been a forward-looking
solution based entirely on hindsight. But organizational culture is
evolving to one of continuous feedback powered by technology,
where managers can foresee problems based on current employee
performance and initiate any form of course correction to bring the
employee back on track.
What is Performance Management?

Performance Management is…


 an ongoing process where supervisors and employees work
together to plan, monitor, and review an employee’s work
objectives, goals, and professional development.
 comprised of frequent informal conversations including
coaching, feedback and support to employees about their
work, needs and accomplishments related to the duties and
expectations of their positions.
Performance Management
Process Cycle
The Performance Management
Cycle

 1. Planning
This stage entails setting employees’ goals and communicating these goals
with them. While these goals should be disclosed in the job description to
attract quality candidates, they should be communicated once again when the
candidate becomes a new hire. Depending on the performance management
process in your organization, you may want to assign a percentage to each of
these goals to be able to evaluate their achievement.
The Performance Management
Cycle…

 2. Monitoring
In this phase, managers are required to monitor the employees
performance on the goal. This is where continuous performance
management comes into the picture. With the right performance
management software, you can track your teams performance in real-time
and modify and correct course whenever required.
The Performance Management
Cycle…

 3. Developing
 This phase includes using the data obtained during the monitoring phase to
improve the performance of employees. It may require suggesting refresher
courses, providing an assignment that helps them improve their knowledge
and performance on the job, or altering the course of employee
development to enhance performance or sustain excellence.
The Performance Management
Cycle…

 4. Rating
Each employees performance must be rated periodically and then at the time of the
performance appraisal. Ratings are essential to identify the state of employee
performance and implement changes accordingly. Both peers and managers can provide
these ratings for 360-degree feedback.
 5. Rewarding
Recognizing and rewarding good performance is essential to the performance
management process, as well as an important part of employee engagement. You can do
this with a simple thank you, social recognition, or a full-scale employee rewards
program that regularly recognizes and rewards excellent performance in the
organization.
Benefits of Performance Management

 Integration
 Open Communication
 Improved Performance
 Training and Development
 Clarity of Standards/Requirements
 Placement of Individuals
 Increased Objectivity
 Equitable Remuneration
 Objective Promotability
 Structured Career Planning
Issues With Performance Management

 Legal issues.
 Untrained raters.
 Rater errors.
 Rater distortion.
 No grievance procedure.

11
The Performance Management Policy

Supervisors must conduct at least four performance


Expectationsmanagement activities with employees:
Informal Mid-point Summary
and goal-setting
conversations conversation evaluation
conversations

The goal setting, mid-point, and summary evaluation


conversations must be documented.
Key features of effective
performance management software
 Customization: It should be customizable to suit your organizations
industry and performance management strategy.
 Transparency: It should be able to eliminate the confusion that both
managers and their teams experience in the process of performance
management.
 Objectivity: It should be able to offer objective metrics on which
managers can base their performance evaluation.
 Frequency: It should allow for real-time, instant feedback and periodic
employee ratings.
Conclusion

 Effective management of individual and team performance is a crucial and


central requirement to ensure stakeholder requirements, organizational
strategy and business goals are attained.
 This requires accurate data regarding performance levels of business units,
teams and individuals, and therefore the need for a standardized and formal
performance management system.
References

 www.google.com
 www.wikipedia.com
 www.studymafia.org
 www.pptplanet.com
Thanks

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