preview

Performance Management : A High Priority Activity For Many Leading Organizations

Better Essays

1 EXECUTIVE SUMMARY
Performance management has become a high priority activity for many leading organizations over the past few financial years. Many people lost their jobs due to the economic downturns and many have left their jobs due to unsatisfactory reviews. Many of the affected organizations have started realizing how they really have understood their employee’s performance. Many question have been raised as to how they identify their top performers and how and on what basis do they conduct the review process. There is more to performance management than just rating the associate’s performance annually or bi-annually.
As more and more changes take place in the workplace, people have now adopted new ways to work and business revolution enabled by the new technology have led to many major changes in how businesses operate. In 1990’s organizations have invested in software systems that combine the automated customer relations management, logistics, payroll and accounting and these software systems were called the ERP systems. However, in an organization there are far more systems required than just and ERP tool suite. Performance management is a key module of the HR management system and plays a crucial role in determining which employee matters the most. The performance management module is cross functional enabling the HR personnel and the employee to fill in their reviews and feedback and this is analyzed while rating an employee’s performance. But this system has

Get Access