Performance Management in a Company.
My company is a marketing and a public relations company. The company is involved in marketing of customer products to target markets of the customer’s choice. The choice of products we deal in consist of both products and services. These products are mainly concentrated to engineering, manufacturing and building services sectors. The employees range from senior industrial marketers who offer strategic marketing advice, brand developers who are mandated with ensuring the product outlook is appealing to prospective customers. We have also incorporated a marketing communications department whose mandate is to communicate with the market through advertisements this department works hand in hand with the digital and video services team that comes up with appealing advertisement messages and videos. On board we also have a public relations department that ensures that the concerns of the customers are taken care of.
In the company, employees’ performance is based on employee ranking. According to strategic talent management, an appropriate ranking system should consider the different talents of all the employees. Also this ranking is unique to each department this by analysing what qualities are important in a given department. This also means that the ranking system is also unique to every department. This is goals of each department are very unique and cannot relate to those of another department. In each department the ranking is divide into 5 levels outstanding, exceeds expectations, competent, needs improvement, unacceptable. This reward scheme will enable to establish those employees who are working hard to achieve company goals and those who need to work harder so as to improve their output. This method is very appropriate for this company because not all employees are expected to demonstrate the same level of performance since the company consists of different departments.
According to Harvard business review article on delivering an effective performance review by Rebecca Knight, feedback through face-to-face is usually stressful and it would be prudent if management offered a less stressful method. According to Scott Halford on five steps for giving productive feedback the response should be based on creating safety in this case, employees need to feel safe in this case the manager has to ensure that the person receiving the feedback is comfortable. Secondly the feedback should be done in a positive way it should have more positivity as compared to negativity this is if the company would love to retain the employee, positive feedback stimulates the reward centres in the brain and in the long run the recipient is open to taking a positive approach to issues. The response needs to be specific ambiguity to some extent may leave the employee doubtful about their position in the company. Also the feedback needs to be tough not mean one should avoid an embarrassing situation before people. Finally management needs to give forward-moving feedback that ensures the employee works hard going forward.
In this company management is based on micromanagement. In this case I the owner and the department managers, closely monitor the employees this is due to the need for details and increased performance pressure that ensures that all employees are on their toes to ensure that the objectives of the company are achieved. This is because of the nature of the work that is expected to ensure that strict timelines are met but on the flip side, employees have a leeway of bringing their own talent into the business.
In the company the aim is to ensure customers are always satisfied and such a business according to Ivey Business Journal on the four Intrinsic rewards that drive employee engagement by Kenneth Thomas, should have a reward system that is based on 4 intrinsic reward systems sense of meaningfulness where one feels that they are on a path that is worth someone’s time, sense of choice where one makes a choice on how to accomplish a task, the third being sense of competence which involves handling of work well in which the activities exceed personal standards and the quality of work is high. The fourth being a sense of progress where one feels that their efforts are actually accomplishing something based on this, all type of employees are ranked from high range scorers who achieve all the four intrinsic rewards more intensely, middle range achieve the same rewards to a moderate degree and finally low range who have done little to achieve the set targets. These lower ranked employees should be encouraged to work hard so that in future their rank improves.
– Harvard Business Review- Delivering an Effective Performance Review by Rebecca Knight
– Business News Daily- How to give better Employee Performance Reviews by Marci Martin.
– Ivey Business Journal- The Four Intrinsic Rewards that Drive Employee Engagement by Kenneth Thomas.
Performance Management in a Company.
Performance management is the process of evaluating and developing the performance of employees in an organization. It involves setting performance goals, providing regular feedback, conducting performance evaluations, and taking action to address performance issues. The goal of performance management is to improve employee performance and align it with the goals and objectives of the company.