Performance Management

trategic Purpose

I will help top management achieve the strategic business objectives. By linking the organization’s goals with individual goals, the performance management system reinforces behaviors consistent with the attainment of organizational goals. Moreover, even if for some reason individual goals are not achieved, linking individual with organizational goals serves as a way to communicate what are the most crucial business strategic initiatives. Performance management processes are there to support the achievement of the strategies by ensuring that realistic but stretching objectives are set and that action plans are prepared that will implement them. The objectives are added value, sales revenue, overhead rates, return on capital employed, economic value added, and earnings per share. Specific objectives are to improve organizational, team and individual performance; to clarify expectations on what individuals and teams have to achieve; to support the realization of the organization’s core values; to clarify expectations on what individuals and teams have to achieve; to develop individuals’ skills and capabilities; to foster a closer relationship between individuals and their managers based on the agreement of objectives, feedback and coaching; to empower individuals to manage their own performance and learning (Risher, 2003). Implementing a well-designed performance management system has many advantages. From the perspective of employees, a good system increase motivation, self-esteem, helps improve performance, clarifies job tasks and duties, provides self-insight and development opportunities, and clarifies supervisors’ expectations (Risher, 2003). From the perspective of managers, good systems allow them to gain insight about employees, allow for more fair and appropriate personnel actions, help them to communicate organizational goals more clearly, let them differentiate good and poor performers, and help drive organizational change (Risher,...