Unit 1 & 2 Flashcards
The process of ensuring individual and team effort support the organizational objectives and to realize key stakeholder expectations and wealth creation in all the identified value drivers of the organization
Performance management
PM
Plan
Monitor
Review
Improve
Measure
Nature of PM
Make clear of what the organization expects
Provide performance information to employees
Document performance for personal records
Identify areas of success and needed development
Importance of PM
Salary administration
Performance feedback
Assists in goal identification
Making promotional decisions
And more
Roles of PM
1
Responsibility structure
Content
Integrity
Manageability
Alignment
Accountability
Management style
Action orientation
Communication
2
Management quality
Openness and action orientation
Long-term orientation
Continuous improvement and renewal
Workforce quality
3
Competitive performance
Usually do the actual appraising
Supervisor
Must know how to conduct the appraisal fairly and familiar with basic appraisal formatting
Supervisor
Serves a policy making and advisory role
HR dept
Prepare forms and procedures and insists that all department use them. Appraisal based on their skills
HR Dept
Process of PM
Visioning
Goal setting
Strategic planning
Business planning
Analyzing results
Forecasting
Measuring success
Rewarding people
Major objectives for PMS
Setting and defining goals
Setting expectations for managers and employees
Setting performance standard
Establishing effective communication
The end result of an activity
Performance
Accumulated end results of all the organization’s work processes and activities
Organizational performance
Process of acquiring, managing, renewing, and disposing of assets
Asset management
Means the performance objectives specifically attributable to each participant reflective of his functional area and responsibilities, taking into consideration top executive’s evaluation of performance in that regard
Individual performance
