You have been asked to return to your alma mater and speak to current students about
performance management issues. To make the most of this experience for yourself and
the students, write a three-to-five page paper (not including the title and reference
pages) to help you prepare. Your paper should be written in a scholarly third-person
tone, it should be in APA format, and must include an Abstract. In addition to the
introduction and conclusion, your paper should address the following:
1. Explain the concept of “performance management.”
2. Identify the most prominent types of performance management plans.
3. Compare the plans’ impact on the employee and the organization.
4. Discuss the relationship between performance management and compensation.
5. Evaluate the factors that should be considered when successfully implementing
performance management within an organization.
In addition to the text, cite at least two scholarly references to support your discussion.
ANSWER:
Abstract:
The importance of performance management has been highlighted by several
researchers and authors. In the current era of severe competition, it is considered
absolutely essential to gain competitive advantage. However, not all organizations focus
on performance management of employees. The result is dwindling productivity. There
are a number of effective methods that can be used by the organizations to achieve
great performance from their employees, some of which are highlighted in this paper.
The paper also highlights the important relationship between performance management
and compensation as well as the essential factors to be considered prior to
implementing the performance management plan.
Performance management is a process through which the employees and supervisors
work together to plan, monitor as well as review an employee’s work objectives and
contribution overall to the organizational performance. It is not just an annual review but
a continual process that aims to maximize employee effectiveness. It is a continuous
process that includes setting of objectives, assessment of progress as well as on going
feedback and coaching to ensure that the employees can achieve their objectives and
their career goals. The basic goal of performance management is to manage employee
performance and thus ensure maximum effectiveness. Organizations are increasingly
focussing upon employee performance since it has been recognized to be an important