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LOVELY INSTITUTE OF MANAGEMENT

DEPARTMENT OF MANAGEMENT

Term paper

OF

GLOBAL HUMAN RESOURCE MANAGEMENT

ON

PERFORMANCE MANAGEMENT SYASTEM IN MODERN ORGANISATIONS

Submitted to Regards

Dr.Krishan Gopal Jessica

REG. 10900618

RT1902B53

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ACKNOWLEDGEMENT

Accomplishment of any task, howsoever small it may be, is

Not possible without the blessings of the Almighty and without the active

Help of certain individuals.

My special thanks toDr.Krishan Gopal, Who motivated me to take up this Term paper. Im

highly grateful to him for guiding me so affectionately.

And last, but not the least, Im indebted to teachers

For their help and moral support. I hope and wish; I can repay their efforts half as much as they

have effort for me.

- Jessica

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Contents

Introduction

Advantages and Disadvantages of Performance Management System

4 Key Benefits of Performance Management

15 Other Benefits of Performance Management

Concerns About Performance Management

Organization As Network: A Modern Approach to Performance Management

Performance Management is Collective Responsibility

Performance Management Methods

Inputs Required for Performance Management

Conclusion

References

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Introduction

Performance management (PM) includes activities that ensure that goals are consistently being

met in an effective and efficient manner. Performance management can focus on the

performance of an organization, a department, employee, or even the processes to build a

product or service, as well as many other areas.

Performance management as referenced on this page is a broad term coined by Dr. Aubrey

Daniels in the late 1970s to describe a technology (i.e. science imbedded in applications

methods) for managing behavior and results, two critical elements of what is known as

performance.

Application

This is used most often in the workplace, can apply wherever people interact schools,

churches, community meetings, sports teams, health setting, governmental agencies, and even

political settings - anywhere in the world people interact with their environments to produce

desired effects. Armstrong and Baron (1998) defined it as a strategic and integrated approach to

increasing the effectiveness of organizations by improving the performance of the people who

work in them and by developing the capabilities of teams and individual contributors.

It may be possible to get all employees to reconcile personal goals with organizational goals and

increase productivity and profitability of an organization using this process. It can be applied by

organizations or a single department or section inside an organization, as well as an individual

person. The performance process is appropriately named the self-propelled performance process

(SPPP).

First, a commitment analysis must be done where a job mission statement is drawn up for each

job. The job mission statement is a job definition in terms of purpose, customers, product and

scope. The aim with this analysis is to determine the continuous key objectives and performance

standards for each job position.

Following the commitment analysis is the work analysis of a particular job in terms of the

reporting structure and job description. If a job description is not available, then a systems

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analysis can be done to draw up a job description. The aim with this analysis is to determine the

continuous critical objectives and performance standards for each job.

Benefits

Managing employee or system performance facilitates the effective delivery of strategic and

operational goals. There is a clear and immediate correlation between using performance

management programs or software and improved business and organizational results.

For employee performance management, using integrated software, rather than a spreadsheet

based recording system, may deliver a significant return on investment through a range of direct

and indirect sales benefits, operational efficiency benefits and by unlocking the latent potential in

every employees work day (i.e. the time they spend not actually doing their job). Benefits may

include:

Direct financial gain

Grow sales

Reduce costs in the organisation

Stop project overruns

Aligns the organization directly behind the CEO's goals Decreases the time it takes to create strategic or operational changes by communicating

the changes through a new set of goals

Motivated workforce

Optimizes incentive plans to specific goals for over achievement, not just business as

usual

Improves employee engagement because everyone understands how they are directly

contributing to the organisations high level goals

Create transparency in achievement of goals

High confidence in bonus payment process

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Professional development programs are better aligned directly to achieving business level

goals

Improved management control

Flexible, responsive to management needs

Displays data relationships

Helps audit / comply with legislative requirements

Simplifies communication of strategic goals scenario planning

Provides well documented and communicated process documentation

Organizational development

In organizational development (OD), performance can be thought of as Actual Results vs

Desired Results. Any discrepancy, where Actual is less than Desired, could constitute the

performance improvement zone. Performance management and improvement can be thought of

as a cycle:

1. Performance planningwhere goals and objectives are established

2. Performance coachingwhere a manager intervenes to give feedback and adjust

performance

3. Performance appraisal where individual performance is formally documented

and feedback delivered

A performance problem is any gap between Desired Results and Actual Results. Performance

improvement is any effort targeted at closing the gap between Actual Results and Desired

Results.

Other organizational development definitions are slightly different. The U.S. Office of Personnel

Management (OPM) indicates that Performance Management consists of a system or process

whereby:

1. Work is planned and expectations are set

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2. Performance of work is monitored

3. Staff ability to perform is developed and enhanced

4. Performance is rated or measured and the ratings summarized

5. Top performance is rewarded.

Advantages and Disadvantages of Performance Management System

Advantages

1. Performance based conversations

Managers get busy with day-to-day responsibilities and often neglect the necessary interactions

with staff that provide the opportunity to coach and offer performance feedback. A

performance management process forces managers to discuss performance issues. It is this

consistent coaching that affects changed behaviors.

2. Targeted Staff Development

If done well, a good performance management system can be a positive way to identify

developmental opportunities and can be an important part of a succession planning process.

3. Encouragement to staff

Performance Appraisals should be a celebration of all the wonderful things an employee does

over the course of a year and should be an encouragement to staff. There should be no surprises

if issues are addressed as they arise and not held until the annual review.

4. Rewards staff for a job well done

If pay increases and/or bonuses are tied to the PA, process staff can see a direct correlation

between performance and financial rewards.

5. Underperformers identified and eliminated

As hard as we try, it is inevitable that some employees just wont cut the mustard as they

say. An effective PA process can help identify and document underperformers, allowing for

a smooth transition if the relationship needs to be terminated.

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6. Documented history of employee performance

It is very important that all organizations keep a performance record on all employees. This

is a document that should be kept in the employees HR file.

7. Allows for employee growth

Motivated employees value structure, development and a plan for growth. An effective

performance management system can help an employee reach their full potential and this is

positive for both the employee and manager. A good manager takes pride in watching an

employee grow and develop professionally.

Organizations should take a global look at their performance management system and have very

objective goals that are tied to strategic initiatives and the performance management process.Successful organizations have learned the secret to this and while not always perfect, a constant

striving to improve the process can help organizations reach theirVision.

Disadvantages

1. Time Consuming

It is recommended that a manager spend about an hour per employee writing performance

appraisals and depending on the number of people being evaluated, it can take hours to write

the departments PA but also hours meeting with staff to review the PA. Ive know

managers who had 100 plus people to write PAs on.

2. Discouragement

If the process is not a pleasant experience, it has the potential to discourage staff. The

process needs to be one of encouragement, positive reinforcement and a celebration of a

years worth of accomplishments. It is critical that managers document not only issues that

need to be corrected, but also the positive things an employee does throughout the course of

a year, and both should be discussed during a PA.

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profits. However, the organization may eventually experience reduced productivity, resulting in

long-term profit loss.

4. Produces meaningful measurements

These measurements have a wide variety of useful applications. They are useful in

benchmarking, or setting standards for comparison with best practices in other organizations.

They provide consistent basis for comparison during internal change efforts. They indicate

results during improvement efforts, such as employee training, management development,

quality programs, etc. They help ensure equitable and fair treatment to employees based on

performance.

15 Other Benefits of Performance Management

1. Helps you think about what results you really want. You're forced to be accountable, to

"put a stake in the ground".

2. Depersonalizes issues. Supervisor's focus on behaviors and results, rather than personalities.

3. Validates expectations. In today's age of high expectations when organizations are striving to

transform themselves and society, having measurable results can verify whether grand visions

are realistic or not.

4. Helps ensure equitable treatment of employees because appraisals are based on results.

5. Optimizes operations in the organization because goals and results are more closely aligned.

6. Cultivates a change in perspective from activities to results.

7. Performance reviews are focused on contributions to the organizational goals, e.g., formsinclude the question "What organizational goal were contributed to and how?"

8. Supports ongoing communication, feedback and dialogue about organizational goals. Also

supports communication between employee and supervisor.

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9. Performance is seen as an ongoing process, rather than a one-time, shapshot event.

10. Provokes focus on the needs of customers, whether internal or external.

11. Cultivates a systems perspective, that is, focus on the relationships and exchanges betweensubsystems, e.g., departments, processes, teams and employees. Accordingly, personnel focus on

patterns and themes in the organization, rather than specific events.

12. Continuing focus and analysis on results helps to correct several myths, e.g., "learning means

results", "job satisfaction produces productivity", etc.

13. Produces specificity in commitments and resources.

14. Provides specificity for comparisons, direction and planning.

15. Redirects attention from bottom-up approaches (e.g., doing job descriptions, performance

reviews, etc., first and then "rolling up" results to the top of the organization) to top-down

approaches (e.g., ensuring all subsystem goals and results are aligned first with the organization's

overall goals and results).

Concerns About Performance Management

Typical concerns expressed about performance management are that it seems extraordinarily

difficult and often unreliable to measure phenomena as complex as performance. People point

out that today's organizations are rapidly changing, thus results and measures quickly become

obsolete. They add that translating human desires and interactions to measurements is

impersonal and even heavy handed.

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Organization As Network: A Modern Approach to Performance Management

Third-generation strategies can't thrive in second-generation organizations with first-generation

management. Sumantra Ghoshal, who was a professor of strategic management at the London

Business School, made this point years ago yet the lag he saw in the evolution of management

is still institutionalized in most businesses' performance management practices. In fact, the gap

between the modern business model and the way we try to manage it grows every day.

In many industries, customers can directly access systems within the companies they do business

with. Think of Internet banking or online check-in for air travel. Processes like these save the

organization money, while ensuring high data quality. They also strengthen the value proposition

for many customers. Some companies combine this model of customer self-service with masscustomization so that every transaction is tailored to the buyer's specific needs. New car orders

include seemingly endless choices on options. Most PCs are built to order. Amazon.com

produces personalized home pages, and Build-A-Bear Workshop allows children to make their

own teddy bear.

The classical value chain, as depicted in section A of exhibit 1 has reversed directions. Section B

of the exhibit shows the reality of many businesses' relationships with their customers today.

Customers are effectively running the organization's processes. They choose which contact

channel is used, and they take advantage of that channel at whatever moment is most convenient

for them. There is no longer any difference between the front office and the back office; systems

are integrated and transparent to the customer. Doing business is a process of continuous

interaction and collaboration.

At the same time, many organizations are outsourcing activities such as accounting, IT, logistics,

manufacturing, call centers, and even R&D. Some do so to save costs, but increasinglycompanies are outsourcing to gain access to new markets, faster time to market, or specialized

skills. A modern organization's true value chain usually looks like section C of exhibit 1. Many

physical products never even touch the organization. For example, most Nike shoes never see the

inside of a Nike facility, and most Philips TV sets are not even touched by a Philips employee.

The flow of information is what connects all the elements.

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When a business operates in a network of closely interrelated, though legally distinct,

organizations, it cannot pay attention only to its internal operations. Its performance management

initiatives should focus on the impact that all of its various stakeholders have on the

organization's results. Instead of asking How can we optimize our performance for one group of

stakeholders? leaders of a performance management improvement effort should consider the

question What do our stakeholders contribute to our success? However, this question can be

asked only if the organization also considers the opposite question: What do we contribute to

the success of our stakeholders?

To effectively guide decision-making within a modern, networked business, performance

management must be applied between organizations and among parts of the same organization.

Companies need to monitor their success within the context of their performance network. They

need to understand the nature of the relationships between the organization and its many

stakeholders; they need to work on their transparency; they need to develop new performance

indicators; and their performance management efforts must focus on building trust, instead of

just control.

NATURE OF THE RELATIONSHIP

Relationships between organizations are not all the same, although all are important. Some

relationships are very transactional, such as managing the cafeteria or logistics. Other business

relationships add more value, and require more advanced management, because they support the

core competencies of the firm or lead to innovation through co-creation of products or services.

Within a performance network, companies may have three different types of relationships with

other businesses: trans-actional relationships, added-value relationships, and joint-value

relationships. They must implement different strategies as they manage relationships of the

different types.

Within a transactional relationship, performance managers should focus on the way in which use

of the partner organization's standard processes enables their company to sell its products and

services, profitably, to as many customers as possible. Just because a relationship is transactional

doesn't mean that it doesn't involve innovation. Many highly innovative organizations focus on

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transactional relationships. One example is the way in which Dolby Laboratories licenses its

surround-sound system to consumer electronics firms.

Added-value relationships are those that improve a company's supply chain and sales distribution

channels. Companies often focus on performance of their added-value relationships as they move

from product selling to solution selling, adding services that complement their product. The goal

in solution selling is to provide a package that becomes part of the customer's everyday life or

business processes, creating a high level of customer loyalty and sustainable customer

profitability. Because customers are different, solution selling often requires the solution to be

adaptable to buyers' unique needs. A partner network helps make adaptation possible. Think of

the numerous third parties that offer Apple iPod accessories, or consider how suppliers to a

supermarket can earn preferred status by integrating with the supermarket's logistical systems.

Every party in an added-value relationship has its own objectives, but goals are aligned, leading

to mutual success.

In joint-value relationships, parties collaborate to create a new product or service that they could

not have developed on their own. Their objectives are the same: joint success in the market.

Think again of the example of Senseo, a one-touch espresso system for which Philips builds the

machine, while Douwe Egberts supplies coffee pads. Each firm brings crucial skills to the

product. Section D of exhibit 1 illustrates the way in which value chains merge for two

companies working together in a joint-value relationship.

TRANSPARENCY

In a performance network, no single CEO hands out marching orders that are then cascaded

down throughout a cohesive (and hierarchical) organization. Business success is achieved

through communication and collaboration. Information is an asset that a company must deploy

and optimize within its relationships in the same way it uses assets like capital and materials.

Collaboration is impossible without information exchange. Therefore, business partners must

share information to optimize relationships, knowledge transfer, and traffic of their other assets.

The efficient sharing of information in a performance network enables stakeholders to identify

opportunities and bottlenecks in the network and to move from suboptimization to optimization.

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Within transactional relationships, transparency consists of the exchange of operational and

financial information, derived from the flow of transactions. Operational information typically

comprises data on the status of transactions for instance, tracking within logistical

environments or monitoring the approval status of transactions within the back office. Financial

information typically consists of invoice and payment information.

Within added-value relationships, transparency requires sharing of management information in

addition to the operational information; the goal is to enable other stakeholders to better manage

the relationship. Examples of information sharing in added-value relationships include the

corporate strategy information that a company gives its shareholders, scorecards its gives

suppliers, and sustainability reporting for the general public. However, the killer business case

for transparency comes from sharing information with customers, such as a utility company's

sharing of energy-use data or a benefits outsourcing firm providing information on activity

within a customer's employee benefits program.

In joint-value relationships, transparency consists of a full set of management information,

similar to what a company would require from its internal operations teams. These relationships

involve the exchange of operational information as well, but emphasis on operations can lead to

transactional behaviors. In addition to management information, transparency in a joint-value

relationship consists of the free flow of certain organizational capacity. This might include

exchange of capital or sharing of skills and staff, materials, or facilities. Asset sharing can be

formalized within a joint venture, but that is not necessary. Managing joint-value relationships

requires a voluntary and open exchange.

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RECIPROCITY

A company should use key performance indicators (KPIs) to monitor and manage the

relationships in its performance network, but these metrics must not focus myopically on

optimization of the company's own, internal performance. They should be reciprocal, showing

both what the stakeholder adds to the organization's performance and how the organization

contributes to the stakeholder's performance. Extending the traditional stable of top-down

metrics to a wider audience of stakeholders makes no sense. The Performance Prism, developed

at Cranfield University in the U.K., is helpful in defining reciprocal performance indicators.

Exhibit 2 identifies facets of success with each of an organization's key stakeholder groups.

Companies that revamp their KPIs in the brave new world of performance networks must

develop metrics that reflect performance for their full spectrum of stakeholders. Monitoring only

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be settled easily. The costs of switching to a new partner are lower, and behavior tends to be

more transactional. This is not to say that an organization should not take action to control and

measure success in its relationships. But the aim of performance indicators and management

processes should be to build trust, thus lowering the costs within its relationships.

Transactional relationships require contractual trust, meaning that all parties involved believe

that contractual obligations will be met. Simple performance indicators reflecting the results of

service delivery, as put forth in a straightforward service-level agreement, suffice. But successful

added-value relationships, in which one organization relies on the processes and systems of

another organization, require greater trust. They demand competence trust, which means all

parties believe not only that their partners will meet contractual obligations, but also that they

have the right skills, technologies, and other resources. Performance indicators reflecting the

level of competence trust focus on the inputs of the service how processes have been

performing, how people have been trained, how resources have been allocated, etc. not just on

the outputs. Competence trust requires much more transparency than contractual trust.

A final level of trust, goodwill trust, develops when a party knows that its partners will represent

it fairly and, when representing it, will make the same decisions it would make. This high level

of trust between organizations can occur only when the parties involved share the same norms

and values. Goodwill trust should be present in joint-value relationships, where organizations

share intellectual property along with resources such as capital, staff, information, and

facilities and where materials flow freely between the organizations. A joint-value

relationship puts an organization in an intrinsically vulnerable situation.

The link between performance and trust is complex. Different stakeholders have different

expectations for an organization. If a company's strategy is aimed at cost leadership and it is

doing a good job, then its cost-related performance indicators will have excellent results. But this

doesn't necessarily mean the organization is trusted. Stakeholders who measure the company

based on quality, rather than cost, may give it bad grades regardless of how well it is executing

its chosen strategy. Trust is earned only when the organization's strategy matches the external

stakeholder's expectations. A well-known anecdote which is not true, yet makes a great point

illustrates how customers' trust in a brand might have little to do with how the organization is

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actually performing. It describes two car companies that perform a similar recall on a specific

line of cars. Both companies send a letter advising all owners of cars in the faulty line to report to

their dealer and have their car serviced free of charge. Owners of the more prestigious brand

applaud their carmaker for being diligent and quality-oriented, while response to the less-trusted

manufacturer is negative; for owners who expected quality problems, the recall proves them

right.

It's important to note that the relationship between performance and trust is not always

symmetrical. In some services, good performance is not noticed, while bad performance leads to

immediate distrust. Think of an outsourcing company that processes payroll. Its service is either

considered to meet expectations but draw no kudos (100 percent accuracy), or is considered to be

poor (less than 100 percent accuracy).

When developing KPIs that can enhance trust across a performance network, companies should

keep in mind that financial and operational metrics are not the only factors stakeholders use to

evaluate an organization's performance. Shell's image took a hit during the Brent-Spar affair of

the mid-'90s. The company felt that sinking the oil platform was its most economical and

environmentally friendly option, but the public disagreed. Shell's products and services were not

compromised by its decision; still, the company suffered from decreased trust.

MANAGEMENT OF TODAY'S BUSINESSES

All stakeholders in an organization's performance network its business partners, shareholders,

government agencies, unions, customers, and employees are interdependent. They need one

another to be successful. And the contributions of all these stakeholders are part of the

organization. A company needs to optimize the performance of all stakeholders to stay profitable

in the long term.

Performance management is more crucial now than it was during the boom years; accurate

insight into what's working, and what's not, may mean the difference between survival and

failure over the next few years. To gain accurate insight into the factors truly driving their

success, many organizations need to reconsider the focus of their performance management

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Performance Management is Collective Responsibility

Performance Management does not pertain only to the work-efficiency of individual employees.

Performance Management is rather broad in its context and emphasizes various departments

like administration, marketing, finance, production, materials and human resources. It monitors

different processes like budgeting, billing, inventory, cash flow and IT support services. The

whole exercise is to achieve organizational effectiveness and organizational effectiveness cannot

be brought about by any one unit but only through collective efforts.

It is common knowledge that with the advent of the free market economy, most organizations

have to contend with fiercer competition and stiffer challenges. Businesses must become more

efficient and adopt right strategies to stay in business. Every employee in the organization must

perform optimally to ensure strategies are implemented effectively. This situation also demands

that systems and processes within the organization are set in the right way to achieve results.

Performance Management Aims

It is accepted that PerformanceManagement comprises of a series of step by step processes as

outlined below:

Systematic planning of work and determining objectives

Constant monitoring of work performance

Required man-power deployed to perform

Performance is continually measured and ratings provided

Motivating performance through rewards

Performance Management Methods

Business Performance Management (BPM) is a series of processes to enable businesses

to understand and make efficient use of their various budiness functions, such as

financial, human and material resources. Operations Performance Management (OPM)

puts stress on devising the methodology to enhance overall business efficiency across the

entire organization.

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Integrated Business Planning (IBP) focusses on the comprehensive planning methods

integrating all units across the enterprise to improve organizational coordination.

Application Performance Management (APM) is 'systems' management that focuses on

monitoring and managing the performance and availability of software applications.

APM refers to the IT tools deployed to detect, diagnose, remedy and report on application

performance to ensure it supports the attainment of the companys business goals.

Inputs Required for Performance Management

Management capability to adapt by continually adjusting and aligning to the

changingneeds of the organization

Leadership quality to set direction for the organization and to guide all operations to

strictly pursue that direction

Resources utilization is the ability to ensure effective and optimum use of all available

human and material resources in the organization

Technical competence depends on the particular type of products and/or services

provided by the organization.

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Conclusion

Performance Management does not pertain only to the work-efficiency of individual employees.

Performance Management is rather broad in its context and emphasizes various departments like

administration, marketing, finance, production, materials and human resources. It monitors

different processes like budgeting, billing, inventory, cash flow and IT support services. The

whole exercise is to achieve organizational effectiveness and organizational effectiveness cannot

be brought about by any one unit but only through collective efforts.

Performance management is more crucial now than it was during the boom years; accurate

insight into what's working, and what's not, may mean the difference between survival and

failure over the next few years. To gain accurate insight into the factors truly driving their

success, many organizations need to reconsider the focus of their performance management

activities. Monitoring, and responding to, factors outside the scope of traditional, introspective

performance metrics may become imperative. An organization that separates its partnerships

based on the nature of the relationship then pays close attention to the transparency,

reciprocity, and trust in each relationship should find itself in a much better position for

survival of the downturn, and for success once the global economy rights itself.

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References

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performance-management/

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http://www.suite101.com/content/performance-management-a82356

http://en.wikipedia.org/wiki/Performance_managementhttp://thethrivingsmallbusiness.com/articles/what-are-the-advantages-and-disadvantages-of-performance-management/http://thethrivingsmallbusiness.com/articles/what-are-the-advantages-and-disadvantages-of-performance-management/http://managementhelp.org/perf_mng/benefits.htmhttp://bpmmag.net/mag/bpm-organization-network-modern-approach-0301/index.htmlhttp://www.suite101.com/content/performance-management-a82356http://en.wikipedia.org/wiki/Performance_managementhttp://thethrivingsmallbusiness.com/articles/what-are-the-advantages-and-disadvantages-of-performance-management/http://thethrivingsmallbusiness.com/articles/what-are-the-advantages-and-disadvantages-of-performance-management/http://managementhelp.org/perf_mng/benefits.htmhttp://bpmmag.net/mag/bpm-organization-network-modern-approach-0301/index.htmlhttp://www.suite101.com/content/performance-management-a82356