Performance is the essential internal engine of an organisation which wants to achieve a notable impact in its sector. There is an array of management tools that promises to help improve the performance management process. However, an effective performance management system 
encompasses everything managers do to ‘lead, manage, assess and develop employees such as establishing objectives, planning individual career development and various assessments, including self assessment, manager assessment, and 360-degree assessments’. This article delineates elements to help leaders and HR practitioners discuss, propose and deliver the best in process.
Performance management should be seen as a continual set of activities like goal setting, managing, coaching, providing feedback, development planning and rewarding and recognising. The organisations that follow it zealously on a regular basis are more effective and perform better. As a practice, leaders should create their business plans or balance scorecards before start of the performance year and should cascade it before the year. Absence of it results in an employee missing the opportunity to be reviewed for the whole year, hence, in effect his annual performance is measured for an incomplete year.
Another observation is that organisations do not customise rating scales on the basis of their needs. Some inherit the scales from their parent organisations to align them globally. Performance rating scales should depend on economic scenarios of the operating market, quantifiable aspect of performance, performance philosophy (meritocratic or tenure), managerial depth, variable pay plans and learning and development agenda of the organisation. Click here to read more...
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encompasses everything managers do to ‘lead, manage, assess and develop employees such as establishing objectives, planning individual career development and various assessments, including self assessment, manager assessment, and 360-degree assessments’. This article delineates elements to help leaders and HR practitioners discuss, propose and deliver the best in process.Performance management should be seen as a continual set of activities like goal setting, managing, coaching, providing feedback, development planning and rewarding and recognising. The organisations that follow it zealously on a regular basis are more effective and perform better. As a practice, leaders should create their business plans or balance scorecards before start of the performance year and should cascade it before the year. Absence of it results in an employee missing the opportunity to be reviewed for the whole year, hence, in effect his annual performance is measured for an incomplete year.
Another observation is that organisations do not customise rating scales on the basis of their needs. Some inherit the scales from their parent organisations to align them globally. Performance rating scales should depend on economic scenarios of the operating market, quantifiable aspect of performance, performance philosophy (meritocratic or tenure), managerial depth, variable pay plans and learning and development agenda of the organisation. Click here to read more...
Read More IIPM Related Articles
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Prof. Arindam Chaudhuri's Session at IMA Indore
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