Right Performance Management System-Free-Samples for Students

Questions: 1.With regard to your answer to (d) above, how does the organisation measure the performance of this group of key talent?2.How does it ensure that a right performance management system is in place to maximize their performance? Answers: 1.The organisation measure the performance of the group of key talent in different ways. First, the performance measures focuses on stability of the accrued profit, cash flow earnings, and returns in invested capital among others. Cost benefit is highly considered, as well as performance dimensions which should be measurable to avoid biasness in the assessment. Secondly an alternative can be used to ensure the correctness of the assessment. The performance matrix is used (Holmberg, 2000). It provides evidence of financial and non-financial goal achievement. It has to configure organizational strategic goals whereby employer and employees agreement should be realistic and achievable. This assessment involves organizing systematic feedback sessions and reviewing of performance whereby high and average performers are observed. Weighting to each matrix is assigned depending on the level of importance thus higher performance issued to individuals and lower performance to team evaluation. The employees performance highly affects the matrix. 2.To ensure that right performance management system is in place in order to maximize the organisations performance, the following has to be adhered to; to begin with, the business should ensure that it has a well-designed performance planning process which entails the expectations of the employee goals and objectives that they should work on. The expected performance of the business should move hand in hand with the processes carried out there. The goals of the employees should not differ from those of the organisation which are result oriented rather than process oriented. Training gives the workers consciousness which is required in an organization by the workforce. For example, they become time conscious, and gain some leadership qualities. To enhance good performance in the organisation the employer should promote good communication, preferably dialogue with the employees (Holmberg, 2000). Good communication all through the business arena enables smooth flow of activities, thus increasing the yield in the business .This allows them to out speak the challenges they come across and what to do to improve performance. Employer should also supervise to ensure that necessary data is collected, observation and documentation done in the required manner at the right time. Lastly performance appraisal meetings should be held to evaluate their set goals, whether achieved or not, review to assess their progress at the mid of the year and take a performance assessment at the end of the year. References Holmberg, S. (2000). A systems perspective on supply chain measurements. International Journal of Physical Distribution Logistics Management, 30(10), 847-868. https://www.performanceconsultants.com/performance-management-coaching-ikea-case-study