Memo Performance Management Essay

Hi Marylee, having found our recommendations for the compensation and benefits strategy fitting to Clapton Commercial Constructions needs I testament next outline a surgery management visualize. Performance management (PM) includes activities which ensure that goals be consistently being met in an effective and high-octane manner. (Performance Mangement, 2013, para. 1). According to My Strategic Plan (2012), Performance Management is also known as a process by which organizations align their resources, remainss and employees to strategic objectives and priorities(Glossary). The deed management formation is part of the companies strategic protrude in achieving the goals set forth each year. There has to be an ongoing communication process with the managers and the employees throughout the year as part of the accomplishment management plan. Below are actions that are part of the performance management system. (Performance Management Meaning, System And Process, 2013). Devel oping clear job descriptions and employee performance plans which includes the draw result areas (KRA) and performance indicators. Selection of right set of people by implementing an appropriate selection process. Negotiating requirements and performance standards for measuring the outcome and all overall productivity against the predefined benchmarks. Providing continuous coaching and feedback during the period of delivery of performance. Identifying the readiness and emergence needs by measuring the outcomes achieved against the setstandards and implementing effective reading programs for improvement. Holding quarterly performance development discussions and evaluating employee performance on the basis of performance plans. Designing effective compensation and reward systems for recognizing those employees who excel in their jobs by achieving the set standards in accordance with the performance plans or rather exceed the performance benchmarks. Providing promotional/car eer development comport and guidance to the employees. Performing exit interviews for understanding the cause of employee discontentment and thenceforth exit from an organization.Effectively implementing a performance management system benefits the organization, manager, and employee in several ways. Your company provide benefit with employee retention and loyalty, improved productivity, which testament result in cost redeeming(a)s. The manager benefits are saving time, reducing conflicts, ensuring efficiency and consistency in performance. The employee has clear expectations of the job and clearly defined career paths. Providing dependent and transparent feedback will have a positive influence on job satisfaction and loyalty. (Managementstudyguide, 2013). aft(prenominal) implementing the performance management system in order for it to be effective the employees have to understand their roles and grandeur to achieving the goals set forth. Making the employee aware of the go als and having a performance metric and job description in constitution is the role of each manager to go over with the employee prior to started any job. The managers will go over the in detail the key result areas with the employee and set up a reward package if the goals are exceeded in these areas. Benchmarking is a method that can be used to measure performance metrics. In the technical construction field quality, time and cost are very important dimensions measured against best practices and another(prenominal) companies in the business.Benchmarking will be invaluable to the success of the Clapton Commercial Construction. Benchmarking is a method to evaluate the performance, and will show the strengths and weaknesses within the company. Benchmarking will ensure the Clapton Commercial Construction can keep job costs, bike times, and productivity within the industry averages. It will give you the data necessary to see the areas that additional training isnecessary. The manag ers will be responsible to get the employees the proper on the job training to be the near productive while keeping costs down.The performance appraisal component of the performance management system is where the manager will twice a year evaluate the employees performance. The manager will do a mid -year PE to determine areas of improvement needed to achieve or exceed the goals and deadlines set forth. For the employees which miss to meet or exceed expectations based on the performance metric set forth at the beginning of the year can be put on a performance improvement plan (PIP). This plan will set expectations and guidance for the employee to follow to help meet expectations by the end of the year. The last-place PE of the year will determine if the employee qualifies for a salary increase and bonus and how much it is. If the employee was put on a PIP and improved in the key areas and meet expectations set forth he/she will also be eligible for a salary increase and a bonus.T he performance management system is an important component of the organizational strategic plan for measuring and analyzing data to measure the performance of the company. It requires the cooperation and support of all employees, especially upper management to be successful. The performance management is proactive system for managing the somebody and organization to achieve desired results. (Performance Management Meaning, System And Process, 2013).ReferencesBenchmarking. (2013). Retrieved from http//Wikipedia. (2013). Retrieved from http//en.wikipedia.org/wiki/BenchmarkingManagementstudyguide. (2013). Retrieved fromhttp//www.managementstudyguide.com/benefits-of-performance-management-system.htmMy Strategic Plan. (2012). Retrieved fromhttp//mystrategicplan.com/resources/section/ glossary/Performance Management Meaning, System and Process. (2013). Retrieved from http//www.managementstudyguide.com/performance-management.htmPerformance Mangement. (2013, Septmeber). WIKIPEDIA, (), . R etrieved from http//en.wikipedia.org/wiki/Performance_management