Motivation is the key to success, be it for an individual or an organization. In today’s fast-paced business environment, where innovation is an integral part of every department in an organization, performance management systems are used to oversee the operations of employees as well as an organization. These performance management systems are used as a tool for bringing motivation on an individual level and on a departmental level. The more motivated an employee, the more productive they will be and the more pride they will have in their organization.
The performance management systems are helpful in determining goals that too are supported by the feedback from managers. It is seen that there are organizations that mostly work on high productivity of performers leaving out the middle and low categories of employees. To keep a team motivated, it is necessary to give attention to all associates, especially the ones with low performance.
To increase the motivation level of employees, it is important that the performance criterion is clearly set. The job description and required skills should be made clear and defined by an organization. Here the managers and Human Resource department work together to achieve the purpose of performance management systems. The managers can openly communicate with the individual employees regarding what they need from them. In contrast, the employees who do not fulfill the managers’ criteria and the organization are identified and trained accordingly.
Realization of the importance of Employee Performance Management System
The variations on applicability and scope of the Employee Performance Management System (EPMS) are numerous enough to warrant a detailed critical study of the treatment of its terminology as well as all the processes it encapsulates by different theorists. In this review, a composite will be constructed to reflect the literature on the EPMS that may offer a vision transcending the superficial understanding of the system and the exterior, all-things-pleasant image of it. The functional management of resources is the major concern of every organization. Moreover, since their staff is one of their most treasured resources, it is ultimately crucial to pay considerable attention to their supervision in the most preferable, effective ways. The manager must thus start out by designing jobs that open channels for the diagnosis of other phases, for instance, determining the duties, qualification necessities, level of performance requirements, etc. The first stage of performance management entails the recruitment of the best candidates available. Its journey continues with the training and counseling of and offering incentives to the employees.
This article reviews the success or failure of the EPMS in exploiting as well as maneuvering the aptitude and skills of the workforce of an organization towards the actualization of its vision. Some years ago, managers did not think more of performance management than a once-a-year cursory-employee-evaluation ritual. So much so that the esteemed (at the time) management thinker of the late 20th century went so far as vilifying it with the notorious label, ‘deadly disease’ to be precise. Still, with the evolving world, the dynamics of the perspectives on such a system changed too. Presently, it is regarded as a relentlessly participative and future-oriented system, but to stop at that would mean an injustice done to its substantiality and many embraced aspects.
Performance management is the process of supervision while also incorporating all formal and informal methods. An organization should adopt these methods to raise individual and corporate usefulness, commitment, expectations, clear priorities, work responsibilities, and joint goals through one-on-one meetings that spark performance appraisals. Human resource professionals find the usage of EPMS worthwhile, and there remains an overwhelming need for designing and affecting it in a way that is beneficial to the employees.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.