Effective Performance Management System
The bottom-line reality is that we all need to know what is expected in a specific role – if that is lacking, uncertainty and frustration, resulting in demotivation and ineffectiveness, is created. This in turn impacts negatively on company performance and long-term sustainability of the organization. To avoid this, clear goals and objectives need to be defined and that is the crux of an effective Performance Management system.
Performance Management is the process of defining clear objectives and targets for individuals and teams, and the regular review of actual achievement and eventual rewarding for target achievement.
Performance management is a system designed to identify the ways to achieve organizational goals through constant assessment
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Most of us have some basic impression of the performance management of staff, including the role of performance reviews. (Durand 2007). Performance reviews provide an opportunity for supervisors and employees to communicate regularly about goals, and how it should be good to meet those goals, the achievement of objectives are being met and must be done to continue to fulfill (or change) those goals. Rewarded in the form of the employee to meet performance standards, or proceed with the development plan with superior in order to improve performance. Organizational performance management:
Balanced Scorecard: Focuses on four indicators, including the perspective of customers and internal operations of the business, learning and growth, and financial, to monitor progress towards achieving the Organization's strategic goals
Benchmarking: Measurements using the standard in the industry or service compared to other organizations in order to get perspective on organizational performance. For example, there are emerging standards for hospitals, universities, etc., in itself, this is not a comprehensive content to improve performance, but can use the results of comparisons in the standard processes more generally. Often seen as an initiative measure
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(Toyota, 2010) The automotive sector is engaged in the design, manufacture and sale of car products including passenger cars, vans, and trucks, as well as related parts and accessories. Involved the financial sector in the provision of financial services related to the sale of the company's products, as well as rental vehicles and equipment. And others participate in the design, manufacture and sale of residential projects, as well as information and communication
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