The primary aim of the essay is to identify the role of Human Resource Management on the performance management along with the components for creation of effective performance management. Over the decades performance management helps in creating remarkable changes in the self development process of employees in any organisations. It has been seen that Human Resource Management is the integrated part of the Performance management. In order to intensifying the development of the organisation, the performance management becomes an essential part of any organisations. Performance management is set of different types activities for the employees to achieve any organisation’s goals or objectives. It has been analysed that appropriateness in the performance management helps in increasing the rate for achieving the goals of the organisation along with operation management. It helps in growing the sale and implements a cost-effective planning for any organisation. The present essay has argued to identification of components for effective performance management and also role HRM in performance management.
Concept of Performance Management
Performance management can be defined as the set of activities which help in understanding the contribution of individuals in achieving the organisation’s goals. An appropriate management helps in creating alignment with the workforce competencies, employee performance and development in the organisations which helps in betterment of business result. It enhances the productivity of organizations and appraisal policy for the employees. Human Resource Management has been the integral part of the performances as HR is solely responsible for creation of policies in any organisations. On the other hand, a poor performance management can lower the motivation of employees and leads for quitting their job.
According to Noe et al. (2017), employee’s performance depends on the motivation through various means. Therefore low level in motivation can lead the employees to quit their job. This has been the effective result of poor management of performance in any organisations. Dickmann et al. (2016) argued that performance provides beneficial for any organisations and also effective growth in the markets. On the contrary, the inappropriate performance management can misleads the employees by providing fabricated information which can affects their performance along with achieving the objectives of any organisation.
Components of Performance Management
There five elements for creation of effective performance management in any organisations. It has been seen that performance management helps in creating effective strategy for resolving the problem and self-development process for employees. It have been seen that five elements creates effective strategy to encourage and provides motivation for employees of organisations. The five elements of performance management for any organisation are:
Planning and goal setting:
Goal setting for any organisations is the most important stage for expansion in the market. It must be evaluated a perfect time frame along with the way for execution of the planning. According to Cascio and Boudreau (2016), performance management plays an important role in the stage of setting the goal. However, the poor management cannot provide effective strategy to furnish the goal of any organisations. It has been seen that inappropriateness in management can lower the success rate of the organisation for achieving their goal.
Process of Monitoring:
The monitoring process in the performance management helps in creating effective strategies for any organisations and identifies the default present in the existing strategies. It helps in keeping the track record for employee’s performance in the organisations. As argued by Collings et al. (2018), the monitoring process would provide effective strategy for cultivation the quality of employee’s performance and point out their potentiality. On the contrary, the missing of effective monitoring would lower the motivation among the employees that prevent a barrier for enhancement in the productivity of the employees.
After the implementation of monitoring process, it has been seen that development of the employees further enhances the encouragement for increasing the productivity among them. It also helps in improving methods for achieving the goal of the organisations. It has been analysed that the performance managers are solely responsible for failure of employees to performance. An effective performance management would possess methods for employees to achieve the goal and enhances the potentiality of employees to increase their capacity. On the other hand, a poor performance management would create low self esteem among the employees and lose interest in their work.
Periodic rating would help in creation of judging for employees and strengthen their performance. It also helps in achieving goals and also possesses information regarding the objectives of the organisations. Periodic rating helps in providing rating for employees to measure their performance regarding their work. It also helps in providing motivation for employees working in any organisations. A periodic rating provides estimation of capabilities of employees working in it. It has helps in evaluating the target and goal of organisations. However, a poor performance management does not include the periodic ratings which lead to de-motivation among the employees. These lower the performance management of the employees and fail to attain the objectives of organisations.
Rewards and compensation:
Performance management plays an important role to assess the rewards and compensation for employees. The rewards system helps in creating the motivation among employees and enhances the performance to achieve the goal for organisations. It also improves the innovation for the employees for completing their target. On the contrary any inconsistency in the reward or compensation can creates adverse impact on the performance of employees. Moreover, it would lower the motivation of employees along with the effectiveness to reach the objectives of organisations.
Role of Human Resource Management on performance management
Human resource management plays for significant role for implementation of the performance management and appraisals. As mentioned by Analoui (2017), HR team acts as intermediary between the managerial department and employees. It also helps in creating reviewing process for the employees and identifies the potentiality among them. HR managers are solely responsible for creation of appraisal process for employees. However, in modern world, the growth of technology creates negative impact for employees as the quick response cannot assess the quality of employees. It also creates inconsistency among the employee’s performance and de-motivation regarding their work. Moreover, it also creates impacts for organisational culture. On the other hand, HRM helps in creating transparent policy for appraisal regarding employees to enhance their performance and motivation. Moreover, the policies of HRM create engagement activities for employees and change the perception for organisations. HRM is also responsible to elaborate the goal of the organisation and also the strategy to create appraisal process for employees. However, it has been seen that the rules and regulation created by HRM, sometimes creates difficulties resolve the existing problems in organisation. In addition, it has been seen that default in communication plan of HRM can creates dissatisfaction for employees of an organisation.
HRM has been responsible to create integrity among employees and maintain the peace and tranquillity in the internal part of organisation. Moreover, the value of the organisation can be created by the HRM and guidance for employee to understand the value and objectives organisation. As mentioned by Panagiotakopoulos (2016), the salary packages, incentive or bonus policies can be created by HRM which is directly related with satisfaction level of employees. However, inconsistency can lower the opportunities for compensation among employees which lead to the dissatisfaction of employees. HRM also helps in reflecting high level of confidence of employees and building relationship with management. On the other hand, the confidence of employees can be lower with the implementation of inappropriate performance management.
It can be concluded from the above that performance management helps in creating effective strategy for the growth organisations in the market. It also helps in creation of motivation among employees which enhances the productivity among them. HRM plays an important role for the creation of effective performance management in any organisations. HR teams helps in creating reviewing process for the employees along with effective design for creation of appraisal for employees. It has been seen that quality of employees shall be identified by the HRM and provides effective strategy for increment of growth in organisations. Moreover, the employees can easily achieve the goal of the organisation through performance management. Performance management helps in creating cost-effective strategy for organisation and also explore the quality employees. HRM plays an important role for implementation of effective strategy for performance management for organisations. This would provide effective strategy for employees to achieve the goal of organisations along with enhancement for competitive advantages in the market. Hence, it can be finally argued that five components help in creating effective performance management for organisation in which HRM plays an important role.
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