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HRM Assignment - Performance Management

Performance management is a process by which managers and employees work together to plan, monitor, and review work objectives and overall contribution. It aims to improve performance through continuous communication. Key aspects include setting goals, monitoring progress, developing employees, providing periodic ratings, and rewarding good performance. The process follows a cycle of planning, monitoring, developing, rating, and rewarding employees. Performance management brings structure to HR and helps track employee growth and needs.

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87 views4 pages

HRM Assignment - Performance Management

Performance management is a process by which managers and employees work together to plan, monitor, and review work objectives and overall contribution. It aims to improve performance through continuous communication. Key aspects include setting goals, monitoring progress, developing employees, providing periodic ratings, and rewarding good performance. The process follows a cycle of planning, monitoring, developing, rating, and rewarding employees. Performance management brings structure to HR and helps track employee growth and needs.

Uploaded by

Adib Wasi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Course Name : Human Resource Management

Topic : Synopsis About Performance Management

Submitted To :

Major General Alauddin MA Wadud


Faculty Of Business Studies
Bangladesh University Of Professionals

submitted By :

Arnab Saha
ID : 2023011088
Department : BBA ( General)
Faculty Of Business Studies
Bangladesh University Of Professionals
Performance Management

The Article From which source I read :

[Link]
nce-management/

synopsis :

Performance management is a communication process by which managers and


employees work together to plan, monitor and review an employee's work objectives
and overall contribution to the organization. Performance management is a continuous
process of planning, coaching and reviewing employee performance. Managing the
Performance of the employee is the most important function of HR (Human
Resource).

Why is performance management important?

Performance Management provides consistency and brings structure to your HR team.


This way, tracking your employees' growth, or need for support if performance is
lacking, is simplified and identified much faster.

1. Performance management supplements the annual performance review. This


prepares both employees and managers about what to expect during the annual
appraisal.

2. To employees, continuous performance management indicates that managers


value them. Employees believe that their managers are interested in their work and
care about their goals and any issues they may face in the course of their job.

Examples of performance management processes or tools include performance


appraisals, key performance indicators (KPIs) and management dashboards.
Essentially, performance management is what organisations do to become more
successful and stay ahead of their competitors.
The Performance Management Cycle

The performance management process or cycle is a series of five key steps.

1. Planning : This stage entails setting employees’ goals and communicating these
goals with them. While these goals should be disclosed in the job description to attract
quality candidates, they should be communicated once again when the candidate
becomes a new hire.

2. Monitoring : In this phase, managers are required to monitor the employees


performance on the goal.

3. Developing : This phase includes using the data obtained during the monitoring
phase to improve the performance of employees.

4. Rating : Each employee's performance must be rated periodically and then at the
time of the performance appraisal. Ratings are essential to identify the state of
employee performance and implement changes accordingly.

5. Rewarding : Recognizing and rewarding good performance is essential to the


performance management process, as well as an important part of employee
engagement.

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