Managers Guide to Performance Management- Human Resource Management

Question: Describe about the Managers Guide to Performance Management? Answer: Concept of Human Resource Management Human resource management is the key function for any organization. An efficient human resource helps the organization achieve its desired objectives. Human resource management is the system of recruiting and selecting the workforce of an organization and giving them proper training and helps in developing their skills (Dessler, 2013). The efficiency of the employees is then estimated based on the measurement of their performance. Performance measurement is an important tool to understand the performance of the human resource and based on the performance they are provided with certain benefits like incentives and remuneration which motivates the employee in performing better. Performance Management Performance management is the method by which the management and the employees of an organization work together to achieve the desired goal of an organization. The organization makes a plan to achieve the desired goal use its human resource in achieving it, the performance of their employees is then monitored and based on it a performance review is prepared. The performance review helps in understanding the overall contribution of the employees in the organizational objectives (Aguinis, 2013). Performance Management Cycle We can understand the concept of performance management better with the study of the performance management cycle. Performance management is explained in the figure below: Performance Management Cycle Planning functions: Identifying the expectations of the organization. Identifying the method of measurement of results. Agreeing upon the monitoring system. Finalizing the plan (Bacal, 2012). Monitoring functions: Monitoring and evaluating the process. Taking corrective actions based on the evaluation (Cardy and Leonard, 2011). Reviewing functions: Evaluating and reviewing the annual performance. Displaying a clear picture of the organizations performance. Stages of Prerformance Management: The three stages of performance management are further described below: Planning Stage: Planning stage requires the collective effort of the managers and the employees. The following points of the planning stage are- It reviews the job description of the employee to understand the job carried out by them at present and make necessary updates if the job structure of the employee has changed. It reviews and identifies the connection between the job description of the employee and the organizations objectives. It develops the plan of work to outline the job to be completed, desired results to be achieved and setting the standards based on which the performance will be measured (Hope and Player, 2012). It identifies the important areas that are the vital objectives for performance management. These areas are determined with the effective plan of the organization which is depended on the desire of the employee to develop certain outcomes or aspects of a job. It identifies the training objectives necessary for developing the work skills and knowledge of the employees. It makes long term planning which includes several important development objectives (Nielsen and Hunter, 2013). Monitoring Stage: Monitoring stage is not just measuring the daily performance of the employees but also on the end result achieved and the affect of the employees individual behavior on the work environment. The following points of monitoring stage are- It assesses the progress made to meet the objectives of the performance. It identifies the problems which prevent the employees from achieving the desired goals and finding solutions to those problems. It gives feedback on the development related to the objectives. It identifies the changes which are related to change in priorities of the organization and accordingly the employees are assigned new duties. It determines the areas in which the employees require support from the management (Samsonowa, 2012). Reviewing Stage: In this stage, the performance of all the employees is reviewed and evaluated and based on it the performance management notes is prepared. The performance management note is useful in measuring the performance of the employees. This helps the management deal with the problems and issues of employees performance and takes corrective measures to improve it. The following points reviewing stage is discussed below: It summarizes all the tasks completed in the year and compares it with the goals set initially. The success and failure of all the tasks is taken into account. It documents all the challenges faced in a year and all the areas are subjected to development. It identifies the barriers which are discussed to achieve the goals (Torrington, 2011). Conclusion: Human resource management is the key function of a company. It is required in managing the human resource of the company through recruitment, selection, training and development of the employees. Some of the important functions of human resource management are hiring efficient employees, management of their performance, developing the organization, providing safety in health of the employees, motivating the employees with benefits and incentives and providing proper training and development to the employees (Mondy and Mondy, 2012). Here we have discussed one of the important functions of human resource management which is performance management. Performance management is the process of evaluating and comparing the performance of the employees with the standards set to achieve. Thus, to understand the performance management system we have made use of the performance management cycle. Performance management cycle has three stages which explain the way a plan is made based on the identi fication and study of the expected goals. According to the plan the performance of the workforce is evaluated and monitored and based on it measures are taken to correct any flak in performance. In the last stage of the performance management cycle the overall performance of the workers for the year is reviewed and compared and finally the cycle comes to an end. In this topic the concept of human resource management and one of its vital functions is discussed (Price and Price, 2011). References Aguinis, H. (2013).Performance management. Boston: Pearson. Bacal, R. (2012).Manager's guide to Performance management. New York: McGraw-Hill. Cardy, R. and Leonard, B. (2011).Performance management. Armonk, N.Y.: M.E. Sharpe. Dessler, G. (2013).Human resource management. Boston: Prentice Hall. Hope, J. and Player, S. (2012).Beyond performance management. Boston, Mass.: Harvard Business Review Press. Mondy, R. and Mondy, J. (2012).Human resource management. Boston: Prentice Hall. Nielsen, S. and Hunter, D. (2013).Performance management and evaluation. San Francisco: Jossey-Bass. Price, A. and Price, A. (2011).Human resource management. Andover: Cengage Learning. Samsonowa, T. (2012).Industrial research performance management. Heidelberg: Physica-Verlag. Torrington, D. (2011).Human resource management. Harlow, England: Financial Times/Prentice Hall.