Employee Performance -A Factor That Reflects On Organizational Growth
“Employees who believe that management is concerned about them as a whole person – not just an employee – are more productive, more satisfied, more fulfilled.” – Anne M. Mulcahy
The employee performance management system began around 60 years ago as a method to determine their advancement and compensation.
In practice, this worked well for certain employees who were solely driven by financial rewards, but when it came to an employee and organizational development, it failed miserably. The gap between justifying the payroll system and employee development became a huge problem for employee performance.
To address this impending issue – a progressive, formalized and specialized employee evaluation process is being implemented by organizations. An effective performance management system helps to identify employee developmental opportunities that can be an important part of a succession planning process.
The job industry has experienced significant changes driven by globalization and shifts in the expectations of today’s workforce. Recent surveys show that companies are adopting shorter and more continuous feedback practices that bring a positive impact on the business.
Of the 10,447 business and HR leaders Deloitte surveyed, 71% said they’re either re-evaluating their current performance management system, upgrading it, or have updated it over the past three years.
The employee performance reviews which are based on recognizing work efficiency and identifying specific, measurable areas for improvement are critical for maintaining a healthy organizational culture. Employees receive feedback, praise, criticism of their work, and get notified of any shortfalls in their performance or conduct. This helps the management in recognizing and rewarding good employees, identifying and guiding workers who are having trouble.
Employers who routinely review employee performances and conduct regular employee evaluations reap desired organizational benefits. An effective performance management system can help an employee reach their full potential which can be a positive experience for both the employee and the organization.
Employee Performance Management is about aligning the organizational objectives with the employees’ skills, talent management with constant monitoring, competency requirements, development plans, review and the delivery of results. The emphasis is on improvement, learning and development that helps achieve the overall business strategy and to create a high-performance workforce.