Struggling with Performance Management Concepts in Business AVCE – Can Anyone Help?

Hi, I am currently studying Business AVCE at A level. However, I have encountered a problem. I need some help understanding "Performance Management." Would anyone please take some time to help a future professional member of society? If there is such a person who can guide, may they show me an ideal website? Or even type or add a formal definition to this message's response?

Thank you for reading this. Please help.

Hi Drule. :)

I hope I have seen this message early enough to be of any help. I am a working professional, probably out of touch with the most recent developments. However, I am listing the resources that may be of use...

Performance Management

In my understanding (to keep it in the simplest language), performance management is giving 'appropriate feedback' to employees to keep them aligned towards maintaining productivity. The 'feedback' (reward) is mainly in monetary terms. To give positive feedback, you can either increase the pay package, decrease the workload, or provide more non-monetary benefits, like a separate parking space (monetary incentive is most common). Similarly, you should act accordingly when giving negative feedback.

Components of Performance Management

Now, you must have a mechanism to know how an employee is performing. There are several ways to do that. In short, performance management has two major components - Performance Appraisal and Performance Management.

I am listing some online resources on these. :!:

Performance Mgmt Leaders
www.performancesoft.com

Measuring Performance
Software solution to understand the how and why of business performance
www.cognos.com

Balanced Scorecard Kit
Starter doc, Assessment, Guidebook, Checklist & Presentations. Toolkit.
manager-tool.com

Performance Management
News, Ideas, Definition, Benefits Links, Books, and Solutions
www.pm-news.com

Employee Management Tools
Increase performance, motivation. Teambuilding, coaching, mentoring.
www.workplacetoolbox.com

Please let me know if these help.

Hi, As Aditya has rightly pointed out, Performance Management is "Appropriate Feedback." However, feedback in the form of monetary rewards is just one of the means of Performance Management. What is important is the overall development of the employee.

What is Performance Management?

Performance Management is a systematic and integrated data-driven approach to employee management in order to manage, motivate, and improve the performance of the employees. So, the question is, how do you manage performance?

How to Manage Performance

You manage performance only when you are able to measure it, and to measure it, performance needs to be defined in quantifiable terms like KRAs/Goals or competencies that are set as deliverables for the job position.

Key Components of Performance Management

Continuous monitoring and reporting of these deliverables through appraisals/reviews, identifying training needs, conducting training programs, giving performance-linked bonuses to employees, job rotations, etc., constitute the basis of Performance Management.

Articles of Interest

http://work911.com [<link updated to site home>]

Online Solutions for Performance Management

EmpXtrack [<link updated to site home>]

Regards,

Shakir

Hi Shakir,

This is Gunjan, and I am working on a summer project about online PMS. Can you tell me how to proceed with it? Also, I am curious if there is any way to link Six Sigma training with PMS.

Cheers

Hi Gunjan,

Good to know of your interest in this topic. Let me try to share some thoughts with you.

Scope:

For an organization to have an Online PMS, it is essential to have a complete change in mindset from working in traditional ways to implementing a transparent and sophisticated system.

Some strategic focuses that an Online PMS must contain are:
1. Alignment
2. Accountability
3. Transparency
4. Quality
5. Development

Typically, the following are the areas that constitute an Online PMS:
1. Goal Management
2. Appraisal Management
3. Training & Development
4. Performance Linked Remuneration
5. Succession/Career Planning

Another key feature of Online PMS is the Decision Support System Capability, which should provide the management with a tool to monitor and improve performance proactively.

Implementation Process:

Organizations have different workflows and different Performance Management Processes; hence, software needs to be customized and configured as per the organization's needs.

Linking Six Sigma to PMS:

Six Sigma is a precursor to Corporate Performance Management, and CPM is linked to Employee Performance Management. Quality Initiatives ensure that processes and systems are in place to align organizational activities with corporate strategy. Strategic Employee Performance Software follows the six sigma approach of DMAIC. By applying six sigma process design and improvement techniques, one can make significant progress in aligning Employee Performance with business objectives.

Refer to "Six Sigma Business Scorecard: Creating a Comprehensive Corporate Performance Measurement System" by Praveen Gupta, A. William Wiggenhorn.

Software:

[EmpXtrack](http://saigun.com) - Online Performance Management Software from [Saigun Technologies](http://saigun.com) ([Search On Cite](https://www.citehr.com/results.php?q=Saigun%20Technologies) | [Search On Google](https://www.google.com/search?q=Saigun%20Technologies)). Incorporates all the above-said focus areas and integrates with Six Sigma, BSC, Malcolm Baldrige Criteria, CRM & Sales Tracking System, also links with major ERPs and HRIS systems.

There are numerous resources on the internet; you can try searching for some keywords. Let me know if this suffices.

Regards.