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Category: Business and Industry

Date Submitted: 08/04/2013 06:49 AM

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As one of important human resource management practices, performance management has been adopted by most enterprises. However, many enterprises still do not implement performance management, because they do not perceive its benefits. The purpose of this question is to define performance management and identify its benefits.

Performance management involves the activities, such as performance planning, performance coaching, performance assessment, and performance feedback, jointly participated by managers and employees which guarantee that the goals are conformably being achieved in an efficient and effective manner (Cardy & Leonard, 2011). The purpose of performance management is to sustainably improve the individual, departmental, and organizational performance (Armstrong & Baron, 2005).

As a whole, performance management plays an important role in enhancing enterprise competitiveness. To be specific, the benefits of performance management will be identified from the following three aspects. First of all, performance management promotes the improvement of individual and organizational performance. On the one hand, performance management ensures the achievement of performance goals through guiding employees and providing them with necessary resources support. On the other hand, performance management guarantees the standing out of good performers and simultaneously eliminates inappropriate employees by selecting and distinguishing. (Pulakos, 2009) As a result, organizational performance and individual performance will be improved through developing internal employees and attracting external talents. In addition, it can gear up the optimization of management process and business process. Different processes of dealing with business have great impacts on the outputs and organizational efficiency. However, the final purpose of performance management is to improve organizational efficiency so as to guarantee the implementation of business goals...