Performance Management is a broad term that basically means to have a set of strategies to meet the organization’s goals and objectives efficiently and effectively. Recently, the term has become a buzzword for most organizations due to the cut throat competition in leadership and control. Therefore, every organization’s Human Resource encompasses a wide variety of practices and strategies that are summarized under the umbrella of Performance Management (PM).
When I started reading about this subject, I was left baffled by the scope of actions and strategies it involved. If you are hoping to have an organization that would work efficiently through giving maximum output with minimum input then you need to know all about performance management. The crux of the term is to amalgamate strategy and integrated approach and apply it to the teams and individuals of the organization to receive successful results. You must be wondering how that works. Here are three of the most valuable practices of Performance Management to achieve exactly what I have explained above:
Dictating Organizational Mission and Goals
The organization focusing on Performance Management will first of all define the mission and goals that it has in vision. Secondly, it will communicate those goals to all the people connected to the organization. When that is done, the organization will ensure that everybody is participating with just the right amount of effort to stay in focus with the set goals and is validating them. This will naturally increase the growth of the organization at all levels if this tool is enforced. When I first read about this practice, I could make instant sense out of it and realized the true value I can get out of implementing this tool in my organization.
Implementing Performance Scope Management
This is another important aspect of Performance Management that I found most useful. In layman’s language, Performance Scope Management means defining high level processes within the organization so that the management team can work within divisions and support teams/individuals to meet the organization’s goals. Through this technique I was able to ensure that my organization’s expectations are being met by the clarity of roles and processes involved.
Applying Performance Team Development
This is one of the most critical processes of PM in my personal dictionary. This process requires the performance team to have core knowledge of all the issues faced by the organization from the employees, customers, senior management and stake holders. The key to achieving efficient results is to solve the problems rapidly. However, you cannot do that till you identify the real issues. Therefore, knowledge to issues is essential when it comes to performance management.
These are the most important of many key practices in PM. If I were a business professor I would say that it is a whole new science in its own regard. The depth and scope of it goes a long way. Even though this tool has been used for years, businesses are still reaping the benefits by implementing the new practices and concepts.