preview

Evaluating a Performance Management System

Best Essays
Executive Summary

The Performance Management (PM) system refers to the organization activity to ensure that employees work is aligned with the company strategic objectives, vision and the goals are met consistently and efficiently.
Performance appraisals and awards systems are tools of PM that can improve the work performance of employees by helping them realize their full potentials in carrying out their organization mission; ensure that employees understand what is expected from them, and also to provide information for use in making work-related decisions for management.

The general objective of the study, therefore, is to evaluate the performance management and furthermore the appraisal system of Luminex Corporation aligned to the organization strategic goals. Elements such as goal setting and reward system are evaluated to provide insights into the success and efficiency of the performance management program.
Having an effective performance management system could improve morale, motivation and overall productivity by identifying employee’s strengths and addressing areas that need improvement.
Introduction

Performance management is an ongoing process that ensures that employees get the direction, coaching and developmental opportunities that they need to continually improve their work performance. The overall goal of performance management is to ensure that the organization and all of its subsystems are working well together and they align to the organizational strategy and performance goals.
According to (Lam 2014, pg. 183), PM aims to recognize good performance and continuously improving the performance of the employee by fostering a culture of cooperation and partnership between management and employees. Thus, the per...

... middle of paper ...

...t-e-effective form of rewards that can add more motivational value to employees and positively transform the work environment (Spitzer, 1996).

References

Grant, R. M. (2013). Contemporary strategy analysis (Text and Cases, 8th ed.).
Chichester, West Sussex, UK: John Wiley & Sons Ltd.

Lam, H. (2014). Essentials of Strategic Human Resource Management & Organizational Behaviour, Toronto, ON; Nelson Education Ltd, Second Edition

Vecchio, R. P. (2004). Organizational Behavior Core Concepts (6th ed.). Boston, MA: Cengage Learning.

Globerson, S. (1985). Issues in developing a performance criteria system for an organization. International Journal of Production Research, 23(4), 639.

Spitzer, D. (1996). Power rewards: Rewards that can really motivate, Management review, May 1996.(45-50).

Furnham, A. (2004). Performance management systems. European Bussiness Journa
Get Access