Identify five elements of Performance Management and select two elements and discuss how they ensure that the performance management process is positive
Performance management refers to the systematic procedure for improving company performance by formulating and developing the individual and team’s performance in a better manner. This helps gain accurate outcomes from the teams, individuals, and companies by evaluating and maintaining their performance in a set model of planned standards, objectives, and goals. It is a continuous process of interaction between a manager and employee which arises throughout the year along with the assistance of achieving of strategic goals of a firm. In addition to this, performance management mainly concentrates on organization, department, and workers’ tasks to manage specific works (Ammons, et. al., 2020). The main purpose of the PM is to developing a high-performance culture where teams and individuals undertake accountability for continuous improvement of company processes. The performance management is mainly used for aligning single person objectives to the business objectives and also make sure that individuals should uphold organizational core values. As per the Armstrong 2014, five key elements of performance management includes reliable measures, clear goals,
performance monitoring, rewards and recognition and initiatives, and corrective actions. Among the five elements of PM, two components are discussed which are Rewards and Recognition and Performance Monitoring.
In Reward and Recognition, the performance appraisal is incomplete without providing these elements and this will motivate staff members to perform great work to achieve the set goals of an organization. The formal rewards should be an important part of every company as this will give to such an employee who is performing best in a month and as per the evaluation of such performance, such recognition is provided (Arnaboldi, et. al., 2015). It is an essential management process to encourage the workers and team members that have to meet their performance targets. It has been evaluated that offering rewards and recognition for the best work is the method of shaping employees’ attitudes or behaviour towards their tasks. By this, they are motivated to make efforts to select for the same appraisal for the next month, and this they perform hard and met their set goals. The company manager focus on maintaining fairness and equality while they are offer rewards to any staff member and it is based on an employee record and performance, they are providing them such recognition. When employees get the rewards so he/she will be happy and try to perform more good work for next time as well. Staff always positively responds to their recognition and satisfaction with the work which they performed in a company. When employees and their tasks are valued then their satisfaction and productivity level automatically increases and they are also encouraged to manage and improve their great work in a proper manner within an organization. It is analyzed that rewards and recognition is the main element of the performance management and this will make sure that the PM process is positive in each way. This will help them in motivating staff and by this; they perform the best work to reach set goals and objectives of the company (Boon, et. al., 2018). The PM process assists in attaining success to a firm where they are providing recognition and rewards in any form to their employees. The rewards system also ensures that performance management is a spur to employee improvement in which they are satisfied and providing recognition based on their work. It will increase motivation and satisfaction level among workers and they are performing great tasks in the future as well.
Performance Monitoring is an important section of the company’s manager’s regular roles and responsibilities. It is inefficient to allocate and assign the work and predicts the work in which manner the manager wants those tasks. It is an essential strategic method to the management that helps managers, supervisors, leaders, workers, and stakeholders at different levels in a set of tools and techniques to daily plans. It is important for an organization manager is to focus on analyzing employees’ performance according to this they need to provide them such work in which they get success and growth (Delery, et. al., 2017). To measure and maintain the worker’s performance is an important task for the company as it provides employees proper gauge efficiency, recognizes which employees work too hard, and meets the desired goals of the company. For monitoring the staff members’ performance, the supervisor needs to observe and focus on their working style and how they met the targets effectively. Through this process, they can easily evaluate and examine the workers’ performance level and make sure that they are satisfied with the job responsibility and duties in a company. This is one of the major elements of the PM process which is provided a positive influence on the employees’ working and performance. This helps gain high growth and success to a firm in the large market place.
Besides this, performance monitoring can assist the business concerns to spot ways where they can improve the tasks and provide the chances to discuss the organizational directions and views. In an organization, monitoring plays an important part where managers are focus on each work of their employees, and if they make mistakes, improve such in a proper way. Monitoring is essential as it allows workers and team members to ensure that they are achieving their objectives which are set by the company. It also helps in identifying the best way through which employees can get success and recognized within an organization. It is a positive approach that motivates workers to perform good work in reaching potential targets and it also assists in spur to employees’ improvement (Gerrish, 2016). The monitoring of performance aids in improving staff members working style and they are focused on their tasks and do their best. The performance management process is to create a positive impact on the individuals and team members of the company where they are satisfied with their job role or accountabilities that are performed.
Strategic human resource management is primarily concerned with organizational performance. Do you think this relationship can be sustained without building employee well-being into the model?
Strategic human resource management is the combination of the strategies and the human resources which are applied in the organization to achieve the objectives and goals of the organization. The main purpose of strategic human resource management is to increase the competitive advantage of the company in the market place, enhance innovation in the working structure of the company, and to develop advanced flexibility in the firm. The development of the organizational structure which will be correct for the advancement and achievement of the objectives of the company will be done with the help of strategic human resource management (Harrison, et. al., 2017). The strategies are made for human resource management which will encourage and engage the employees with the purpose or objectives of the company. Human resources are the most important assets of any company. They need to be provided with the best environment and facilities as their performance will result in the results for the company’s achievements. The strategic human resource management works in the direction to strategize the organizational working culture which can help in organizing the structure for the company in which the employees will perform for the target. The strategic HRM will help in the success of the firm as the new talents will be hunted down to work for the success and accomplishments of the company.
The strategies for the human resource will increase the overall performance of the company which will provide the effectiveness of the company in the marketplace. The collaborative power of the human resource of the company will be used for the targeted objectives which will enhance the effectiveness and efficiency of the working goals in the marketplace. the strategic human resources work for the encompassment of the whole human resource functions which includes the recruitment, screening, interviewing, and hiring of the employees for the company along with organizational functional strategies to achieve the maximum outputs for achieving the success in target achievement (Hollenbeck, et. al., 2015). Strategic human resource management helps in defining the set of processes that will enhance the function of the organization to attain maximum results with the help of the best working employees. The human resources will be managed through various strategies in which the criteria for the recruitment and hiring of the new talents will be decided among the organizational working environment where the skills and dedication of the employees will be judged. The new talents will be provided with the various kinds of facilities to improve their performance in the direction where the company will be benefited from the performance as the overall performance of the organization will increase from the individual effects.
Strategic human resource management primarily concerns the organizational performance in which the building of the employees’ well-being into the model is very necessary for sustaining this relationship between the organization and human resource management. The model requires the proper training of the employees who are newly recruited as the talent hunt in the company to help them in merging into the company’s working culture (Lim, et. al., 2017). The whole human resource management will provide opportunities for the new talents to submerge themselves in the working environment or the organizational structure which will the most important step in building the employees’ well-being. The employees need to be provided with the information and working style of the company to make them comfortable and getting friendly with their co-workers. The psychology of the new talents needs to be stabilized for getting the maximum results. If the employees are not comfortable with the working style of the organization, the lack of motivation will spread in all the employees as the negative energy will spread at higher rates. The strategic human resource management includes the efforts made for making the employees motivated for the work and providing benefits or extra perks for the excellent performers on a monthly or yearly basis. This will encourage the employees for working in the organization for longer terms.
The relationship between strategic human resource management will not sustain if the employees’ well-being is not built in the model. The individual efforts combined in the form of a team will provide the maximum benefits for the company. If the relationship does not sustain then the individual performance will not provide the results which are required for the achievements of the objectives and goals of the company. The sustainability of the relationship between the company’s performance and strategic human resource management will require the building of the employees’ well-being in the model as, without this, the employee’s efforts will not matter as the employees will only work for their aims and objectives (Lowe, et. al., 2017). The team spirit, good relations with co-workers, enthusiasm are all developed in employees through the building of employees well being in strategic human resource management. The sustainability of the relationship requires the full efforts for making the employees well-being which will help the company to achieve the targeted goals.
Strategic human resource management is used in organizations to strategize the work in the human resources which will provide the maximum results in minimum time with effective and efficient outcomes for the company. The performance of the employees will expand along with the overall performance of the employees as the relationship between both the entities will sustain in the working environment of the company. The employees will be provided with enhanced training for various purposes like understanding colleague relationships, teamwork, etc which will be the best outcomes for the company’s performance in the marketplace (Rosemann, et. al., 2015). The effects of strategic human resource management will be provided to the whole company and the employees will be benefited if the company will grow. The better opportunities will be provided to the employees in the process of sustaining the relationship between the employees and the company’s performance. The new talents will be provided with the extra perks in which they will have a chance to exploration and exposing their talents to the market place which will provide them future opportunities in the performance of the company’s development and growth.
References
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