Help to rewrite or paraphrase with similar wordcount and meaning Advantages of P
ID: 428348 • Letter: H
Question
Help to rewrite or paraphrase with similar wordcount and meaning
Advantages of Performance Management
1. Performance-Based Conversations
A performance management process forces manager to discuss performance issues with employees. It is this consistent coaching that affects changed behaviors and employee development.
2. Targeted Staff Development
All employees are on a development journey and it is the organization’s responsibility to be preparing them for increased responsibility. If done well, an effective performance management system can help to identify employee developmental opportunities and can be an important part of a succession planning process.
3. Encouragement to Staff
Performance appraisals should be a celebration of all the wonderful things an employee does over the course of a year and should be an encouragement to staff. There should be no surprises if issues are addressed as they arise and not held until the annual review. The trick to positive appraisals is to focus as much on what the employee is doing well while gently course correcting undesired behaviors.
4. Rewards Staff for a Job Well Done
When pay increases and/or bonuses are tied to the performance appraisal process, staff can see a direct correlation between performance and financial rewards. This motivates and encourages employees to perform at higher levels.
5. Under-performers Identified and Eliminated
As hard as we try, it is inevitable that some employees just won’t cut the mustard as they say. An effective performance appraisal process can help identify and document underperformers, allowing for a smooth transition if the relationship needs to be terminated.
6. Documented History of Employee Performance
It is very important that all organizations keep a performance record on all employees. This is a document that should be kept in the employee’s HR file. The goal is to maintain a historical record of an employee’s performance and development journey.
7. Allows for Employee Growth
Motivated employees value structure, development and a plan for growth. An effective performance management system can help an employee reach their full potential which can be a positive experience for both the employee and manager. A good manager takes pride in watching an employee grow and develop professionally.
Explanation / Answer
Advantages of Performance Management
1. Performance-Based Conversations
Performance management process mandates performance related discussions between managers and the employees. This function under the concept that consistent performance coaching brings out changed behaviors and positive employee development.
2. Targeted Employee Development
In an employee's ever continuous journey of professional development, it is an organization's responsibility to make him/her prepared for the increasing organizational responsibility. Thus, through an effective performance management system, the employees can be availed with better opportunities and hence, establish an efficient succession planning process.
3. Process as an Encouragement Mechanism
Annual Performance appraisal should be approached through an year long set of activities ensuring that all issues as soon as they are identified by the stakeholders. Efforts should be taken that the issues are not withheld and get negatively presented as surprise during the annual appraisal review. The entire organization should make conscious efforts in making the Performance appraisals as a matter of celebration of positivity while carressingly curating the undesired behaviours of the employee.
4. Establishing Reward Structure
Performance Appraisal Process should reward employees in terms of pay hikes and bonuses. In order words, the rewards provided through the process should be have higher perceived value by the employee, this will ensure motivated and encouraged mindset in the employees year long providing a a higher level of performance.
5. Under-performers Identification and Pruning
Performance Appraisal also helps in identifying the employees who fail to conform to the performance standard established in the organization. Through a strategically implemented process, the underperformers can be smoothly terminated and thus, fine tuning the human resource of the organization.
6. Maintaining Documentation regarding the History of Employee Performance
It is very important in the perspective of an organization to have every annual performance of the employees documented. This will not only provide the organization to identify the performance trends in its human resource but would also facilititate the individual goal setting process of the employees. Both the stakeholders can utilize this documentation to realize his development journey through the past and thus, plan for the future.
7. Scope of Employee Growth
Employees feel motivated and provide higher level of performance standards when they realize the positive scope of self development and growth potential. Therefore, an effective performance management system can help the employees in this aspect and thus assist them in reaching their full potential. Through this, we shall be able to establish an ecosystem where there is a synergic growth of the employees, mangers and the organization.
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