7002 Strategic Performance Management Wk 1

8/6/2019 7002 Strategic Performance Management Wk 1

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7002 STRATEGIC

PERFORMANCEMANAGEMENT

Week 1By Fayyaz Alam


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Wha t is Perfor mance Mana gement?

1 . Continuous Pro cess ofIdentifying

MeasuringDeveloping

The pe rfor mance of individuals andteams


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Defining Perfor mance Mana gement Contd .

and

2 . Alig ning pe rfor mance

with

Stra teg ic Goals of the org aniza tion


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PM is NOT perfor mance app raisal

Perfor mance Mana gementStra teg ic b usiness considera tions

Driven by line mana g erOngo ing f eed b ack

So employee can imp ro ve pe rfor mance


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PM is NOT perfor mance app raisal

Perfor mance App raisalDriven by HR

Assesses employeeStrength s &Weaknesses

Once a yea rLacks ongo ing feed b ack


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V ision, Mission and O bj ectives

M ission : Wha t is the de finition of mission?Wha t is a mission sta tement?

Wha t is the ink of mission with pe rfor mance?O rg anisa tional mission as a b enchmark for pe rfor mance .V ision: How do we de fine vision?Import ance of V ision in mana g ing pe rfor mance? Is the vision unde rstoo d and s ha red ?


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V ision, Mission and O bj ectives contd ...

V ision : a vivid mental ima ge

Import ance of these ques tions:Where a re we n owWhere we wan t to go? AndHow to ge t there?

A Mission Sta tement br iefly answe rs a bo ve ques tions.


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V ision, Mission and O bj ectives contd ...

Objectives : Wha t a re O bj ectives? Import ance of go al se tting to ac hieve obj ectives.

Long run and s hort run pe rfor mance ta rg e ts.Goals and obj ectives can p rovide a reali ty checkduring assessment. Having clea r obj ectives can improve pe rfor mance.


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Cha rac teristics of Perfor manceAssessment

The re a re four key elemen ts in a goo d pe rfor manceand app raisal sys tem:

Set obj ectivesMana ge pe rfor manceCa rry out the app raisalProvide rewa rds/ remedies


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Reaction to Perfor mance Assessment

Listen to employee feed b ack and lead . Empathise with the empl oyees .

Employee Be haviourAcceptance P ositiveResistance C halleng ing

A multi-dimensional stra tegy is required to reac t to employee b ehaviour.


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Mana g ing Continuous impro vement

Plan, Act, Monitor , ReviewSta rt fro m Plan sta ge a gain a fte r completing first phase .Re-set your go als a fte r reviewing pe rfor mance. Rememb e r: Discontinuing the cycle can br ing disas tro us consequences for the org anisa tion.


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Mana g ing pe rfor mance is like a c ontinuous loo p. Ending it a t any s ta ge can onlybr ing disas tro us consequences .

Perfor mance is continuous


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SO WHAT IS PERFORMANCE MANAGEMENT?

GETTING TO THE HE ART OF THE OR G ANIS ATI O N

Perfor mance mana g ement ge ts to the ve ry hea rt of theorg anisa tion. It needs to reflect and supp ort the

org anisa tions culture, s tra tegy and s tyle.It is the way to communicate to pe ople :

Wha t is expec ted of themWha t they will b e rewa rded for

How they should delive r resultsWha t results the org anisa tion is loo king for on a

b usiness-wide scale


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Summary

Perfor mance Assessment de termines the di rectionand recor ds p rogr ess.PM is not same as pe rfor mance app raisals .V ision, Mission and obj ectives of an org anisa tiona re dependen t on pe rfor mance . Possib le resistance fro m employees . Perfor mance Mana gement is a continuous pro cess.


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Q uot es on Perfor mance

I t is an immutable law in business that words are words,explanations are explanations, promises arepromisesbut only performance is reality

~Harold S. Geneen

The value of achievement lies in the achieving.

~Albert Einstein

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7002 Strategic Performance Management Wk 1