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Published on July 31, 2022 9 min
Other Talks in the Series: Key Concepts: Human Resources Management
My name is Ronan Carbery. I'm Senior Lecturer in Management in Cork University Business School, UCC Ireland. In this video, I will be talking about performance management.
Performance management is concerned with establishing and measuring employee goals in order to improve individual and organizational performance. This process helps organizations to ensure they achieve their objectives. Performance management is also important for employees, as it provides them with a platform to monitor their progress, and it can enhance their engagement at work. Managing performance is important for both managers and employees alike. For managers, it enables them to clarify key organizational goals and priorities, measure subordinates work performance, and motivate them by recognizing achievements. For employees, performance management allows them to learn what is valued by the organization, communicate their views about the job, and identify career, and training, and development needs. In light of the benefits derived from performance management, and because of the severe difficulty in "getting it right" in organizations, it continues to be a topic of major interest for academics and practitioners alike. This video will briefly discuss the role of performance management in promoting higher levels of employee engagement and performance. It will also headlines from the main techniques used to assess performance.
Looking at how performance management is linked to other practices, we can see that it is aligned with a wide variety of HR practices. For example, from a strategic perspective, it helps align individual and organizational performance with business strategy. It usually forms the basis for determining rewards, and the outputs from the performance management process can be used to identify specific learning and development needs. Performance management can be a useful tool to identify high performers and assist with succession planning. It also enables organizations to identify talented employees, so that they can be effectively rewarded and thus retained. Finally, a well-designed performance management system can enhance employee engagement. This is the energy, enjoyment, and enthusiasm that employees exhibit towards their work. Performance management can create meaning and interest for employees in performing their work, as it focuses on intrinsic motivating factors such as, taking responsibility for job outcomes, and achievements and fulfillment of personal goals and objectives.