Key Elements in a Performance Management Process Coursework

Essays on Key Elements in a Performance Management Process Coursework The paper "Key Elements in a Performance Management Process" is a delightful example of coursework on marketing. Performance management is defined as an activity that involves all practices, information, and systems that managers use to establish the strategy, develop plans, monitor execution, project performance, report organizational results, and make informed decisions (Axson 2010: 25). It can also be defined as a holistic approach and process towards the effective management of individual groups to ensure that their shared objectives, as well as the organization’s strategic objectives, are attained. The aim of this paper is to discuss this concept in detail, including the key elements in a performance management process, and why a well-designed performance management system is important for both employees and organizations. The paper will also discuss four methods used in performance and their pros and cons.Purposes of performance managementGenerally, the aim of performanc e management is to contribute to the attainment of high performance by both the organization and its employees. Sono and Werner (cited by Craythorne, 2006: 121) state that there are three major purposes of performance management, that is: it is a process for implementing strategy; it is the vehicle through which cultural change can be implemented, and it offers input to other systems such as remuneration and training development. Performance measurement enables judgment of past performance by providing a basis for reward allocation, providing a basis for promotions, layoffs, transfers and so on, identifying high-potential employees, validating selection procedures, and evaluating previous training programs. It also enables the development of future performance by fostering work improvement, identifying training and development opportunities, developing ways to overcome obstacles and barriers to performance, and establishing supervisor-employee agreements on expectations (Griffin Mo orehead, 2011: 156).Key elements in a performance management processThe key elements in a performance management process are performance planning, performance coaching and mentoring, and performance measurement and evaluation. These are discussed next.Performance planningPerformance planning involves setting the direction of the performance planning process and defining expectations, determining the goals and objectives of employees, determining the people to be engaged in the evaluation process as well as the method to be employed, and developing an action plan. The purpose of performance planning is therefore to accomplish two critical tasks: (1) to establish measurable objectives for the outcomes or results that the efforts of the people involved will produce (that is the what of the job); and (2) to analyze the way in which the people involved will go about attaining those results or achieving the desired goals (that is the how of job) (Grote, 1996: 21). These tasks are then tak en into consideration by way of having them reflected in an action plan.