Performance Management

 

Performance Management

According to Armstrong and Baron (1998), performance management is a strategic, and an integrated approach to delivering successful results in organizations by improving performance and developing the capabilities of team and Individuals. Similarly, it is an on-going partnership between supervisors and employees, working together to accomplish common goals. Furthermore, Cardy (2004) indicates that performance management is a critical and necessary component for individuals and organizational effectiveness. Whether managing a group of workers, providing feed-back to the division heads or peers, performance management is a process needed for improvement to occur. Further, by applying performance management companies can align their resources, systems and employees which will help them attain their objectives and priorities.

Once skills have been developed employees need to maximize application of skills through: decision making, strategic thinking and using tactics. Decision making can happen during performance. Appraisals can expose demonstration or good decision-making skills. Performance Management has 4 elements. Select, Direct, Evaluate, Reward (Marshall 1999).

Figure 1.0: Performance management cycle

 

(Source: Armstrong,2009).

There are many versions of the performance cycle interpreted by various authors. Although the most famous interpretation and explanation is cited by Armstrong (2009) with a description of the performance management cycle and its three constituents: performance agreement, managing performance continuously, and reviewing and assessing performance and is illustrated in figure 1.0 (Armstrong, 2009). 

Under the XY Radio Network Pvt Ltd there are 3 sub radio stations that cater to 3 different audiences. The most revenue making station XY87 has more advantages. Example: the radio frequency is below 90. Every month the group target is fixed and divided amongst the Marketing Executives. The Director plans the individual targets in order to achieve the common overall target. Planning is done with the relevant managers as they will be communicating and meeting clients with the executives. Every week managers makes sure that a percentage is completed by every executive. By repeating the trend before month end makes each and every individual develop personal performances. 

According to Wade & Recardo (2001) planning develops either the business objectives or the performance measures for which an individual or a team will be held for the upcoming performance year. The Employee should understand expectations and that all necessary resources will be available. Once the employee agrees to the company goals the manager and director needs to be clear about the employee’s expectations for completing. In XY87 FM if one employee fails to deliver the prearranged target, there will be a downfall in the overall revenue and will affect the corporation.