Definitions of Managing Performances
Behaviors that accomplishes results ( Armstrong , 2017 p .392 )
Assessment of performance entails evaluations of inputs & outputs ( Brumbach , 1988 )
Performance Management is the system through which organizations set works , goals , determine performance standards , assigns and evaluate work , provide performance feedback , determine training and development needs & distribute rewards . ( Briscoe and Clause , 2008 )
According to Mohrman & Morman ( 1995 ) , Performance Management is managing the business , It is what Line Managers do continuously , not an HR Directed annual procedure .It is a natural process of Management .
Performance Management is much more than appraising individuals .It contributes to the acheivement of culture change and it is integrated with other key HR Activities , especially Human Capital Management , Talent Management , Learning & Development and reward Management .
( Armstrong , 2017 )
Managing performance could be justified as Managing the business .
( Mohrman and mohrman ( 1995 ) which is the total reflection .Further it has been defined as natural process of Management .
Performance Management process could be divided to following elementary sections
- Agreement
- Feedback
- Positive enforcement
- Dialogue
Principles of performance management
Performance Management should have below clear indicators ,
- Direction
- Freedom to get their work done
- Encouragement
- Leading to growth
- Leading to strategic collaboration ( Egan Cited in Armstrong , 2017 )
Discussion of present situation in banking sector
Once the Annual goals and values are been decided by the Bank director Board & Corporate Management after budgeting meetings , all business directions are circulated through the HR & respective department Heads .Further the big picture Goals are been segregated to particular specified fields ( Eg - If Sales Department has been finalized annual volumes with Cards & Loans target for month, target distribution will be aligning all behaviors / group talent focus & identifying necessary learning & development points of group of individuals ( employees ) towards achieving company goals .
The entire process of target evaluation to determine current position will be conduct on monthly basis through Monthly Sales meetings and following methods are currently practicing .Planing for the next month with exact promotions and out line expected derivatives, ( obtain agreement with sales officers, follow up on activities in daily activities follow up plan and tracking on weekly basis , mitigate obstacles and coaching for enhance efficiency of achieving the target .Monthly sales meeting will be utilize to review monthly progress and identifying the mistakes and good practices and encourage / appreciate those individuals who have done well and present rewards and certificates .
discourage poor performers and change the goal setting path and carry out personal inspection process in order to re align those individuals .
Self Reflection
Performance Management system is a pivotal task in annual business process of any organization thus it is involve in regular business and HR function .Performances are key drive factor to thrive human capital in line with company goals and values .Performance evaluations are considered as key indicator to change individual perspective thus leads to change culture in the Organization. Performance evaluations to be carry on frequently & evaluations should conduct with in the business cycle & rewards / recognition is very important .Performance Management should have clear aims in measurable criteria , should be simple and much more functions are involved .Performance Management is important to varies factors including motivation , to increase self esteem , to build strong employee relationship ,to help employee developments , to become employee more competent and etc ....further it has been understood that performance management is on key important role on working towards organizational success & will be make on thrive effect on all aspects of human capital interaction .
https://youtu.be/RhAJkhIFFno?t=19
References
- Armstrong , M and Taylor , S ( 2017 ) Armstrong's Handbook of Human Resource Management Practice . London : Kogan Page
- Armstrong, M., 2017. Armstrong's Hand Book of Human Resource Practice. 1st ed. London: Kogan Page.
- Mohrman, S. and Mohrman, M., 1995. Designing Team Based Organizations. 1st ed. London: Jossey Bass Management Series.
- Brumbach, G.B. (1998); Some Ideas, Issues and Predictions about Performance Management, Public Personnel Management, Winter: 387-402.
- Briscoe, D. and Clause, L., 2008. Performance Management System. 1st ed. London: Chapman & Hall.
- https://youtu.be/RhAJkhIFFno?t=19
Challenges faced by managers of sales departments can often be solved with a change in perspective. In this video, I talk about how to manage a sales team by seeing challenges from your team’s point of view and helping salespeople do what they do best – sell.
ReplyDeletePerformance management lead employees towards job satisfaction and reduce emplotee turnover if its done in a goid manner. Otherwise it will create internal problems among the employees.
ReplyDeletePerformance management can be carried effectively with the help of transformation leaders. To my under understanding using transformation leaders to carryout performance management is the best.
ReplyDeleteManaging Performances in banking culture.you have done a valuable article with related to banking sector.good work.
ReplyDeletePerformance management is a key area in any organization! this article gives a good knowledge that how banking sector does performance management! Intesersting! Good job brother!
ReplyDeleteVery well elaborated on the application of performance management principles in banking sector. Please cut down on the description about basics in this article to stay with in the word count.
ReplyDeletevery good article and clearly explained on Managing Performances in banking culture
ReplyDeleteGood article. Clearly explained on managing performance in banking sector
ReplyDelete