Performance Management a Comparison Case Essay

Pages: 8 (2360 words)  ·  Style: Harvard  ·  Bibliography Sources: 10  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business

SAMPLE EXCERPT . . .

Cokins (2009, p. 59) found that many performance management strategies had either weak theoretical foundations, or "do not take full advantage of existing theories of work motivation." Buchner continues to say that most performance management systems assume to take the black-box approach to the employee motivation, because this approach assumes that with regardless of an individual specific motivation, the end results will still be that same (Cokins, 2009).

Planning is the first important tool used by this company to carry out performance management. The company first has to set goals with all the stakeholders and the employees. The employees are made aware of the performance expectations and goals they are to achieve within a specified period of time. This gives the workers a direction to take so as to achieve the required performance. The company also ensures that the employees are involved in some of the company's planning activities so as to know what is required of them, why high performance is needed and how well the performance should be to achieve the desired results (Bol, 2011). At this stage, standards are set which will act as a foundation to most of the company's operations.Download full Download Microsoft Word File
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TOPIC: Essay on Performance Management a Comparison Case Assignment

Monitoring performance is one of their main objectives, the company measures the workers performance in line with the company's goal and at the end of the monitoring, and they provide feedback. Employees' appraisal is normally done periodically after their performance level has been determined. The company uses feedback as an important tool used to encourage changes and improvement of a worker's performance. The feedbacks are normally communicated to the workers in a timely manner so as to ensure that the changes are made before they get out of hand. Feedback in the company can be conveyed from different sources such as from the managers, supervisors, measurement systems, peers and customers. Their system uses the 360-degree assessment. Therefore, the feedback given to the employee should have the following properties; they should be timely, it should be specific, and the manner in which it is conveyed to the employees (Mithas, 2011).

The company also takes part in active employee development so as to increase their capacity to perform. This is done after the company has identified the need to improve their performance. Employees at British Gas Company are normally given activities to increase their capacity to perform through being given regular training, given assignments that will help to introduce them to a new level or responsibility of skills (Mithas, 2011). Their capacity to perform is also enhanced through improving their work processes. All these activities tailored to develop an employee's ability to perform helps them to strengthen job related skills and their competencies.

The company also conducts regular rating of its performance and that of the employees. Through rating of the employee's performance and that overall performance of the company, British gas company is able to compare this performance to those seen previously so as to establish whether they are in the right track or not. The employees are normally rated against the elements and standards set in the employee's performance plan, thereafter, a summary of the rating record is availed according to the procedures included in the organization's appraisal program (Mucha, 2012). The company uses these employees rating to either increase an employee's pay grade or demotes an employee.

The company also recognizes an individual/groups' performance and acknowledges their contribution to the prosperity of the company. Recognition of performance is a common and on-going practice at British Gas Company, the company uses formal rewards to motivate the workers' performance. These rewards include, cash rewards, time-off and incentives among others (Risher, 2011).

Conclusion

Performance management is a systematic process which entails planning work and setting expectation, continuous monitoring of performance, development of the capacity to perform, periodically rating the performance in a summary fashion and lastly rewarding good performance. All these are essential for the growth of a company. Most multimillion dollar companies embrace performance management to help them to stay at that top. Though performance management is being used by many international companies, its execution in a company setting is faced by several barriers; these include Lackluster Execution, presence of Hidden Knowledge, Unreliable Decisions, Slow Rates of Improvement, Local Optimization, Uncompetitive Reaction Times and Strategic Misalignment among others.

References

ARMSTRONG, M. 2006. Performance management: key strategies and practical guidelines, Kogan Page.

BOL, J.C. 2011. The Determinants and Performance Effects of Managers' Performance Evaluation Biases. Accounting Review, 86, 1549-1575.

CARDY, R.L. & LEONARD, B. 2011. Performance Management: Concepts, Skills, and Exercises, ME Sharpe Inc.

COKINS, G. 2009. Performance Management: Integrating Strategy Execution, Methodologies, Risk, and Analytics, Wiley.

EDDS, D. 2011. PERFORMANCE Management AS A SUSTAINABLE ENTERPRISE. Government Finance Review, 27, 26.

MITHAS, S., RAMASUBBU, N. & SAMBAMURTHY, V. 2011. HOW INFORMATION Management CAPABILITY INFLUENCES FIRM PERFORMANCE. MIS Quarterly, 35, 137-A15.

MUCHA, M. 2012. Performance Management for Economic Development. Government Finance Review, 28, 51.

NANKERVIS, A.R. & COMPTON, R.-L. 2006. Performance management: Theory in practice? Asia Pacific Journal of Human Resources, 44, 83-101.

RISHER, H. 2011. Getting… [END OF PREVIEW] . . . READ MORE

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