Reply to Performance Management Discussion 2 Q – Please read the discussion be

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Reply to Performance Management Discussion 2

Q – Please read the discussion be

Reply to Performance Management Discussion 2

Q – Please read the discussion below and prepare a Reply to this discussion with comments that further and advance the discussion topic.
Please provide the references you used.
Ensure zero plagiarism.
Word limit: 200 to 250 words
Discussion
Performance Management
The performance management system
Performance management is a continual process that encompasses identifying, evaluating, and enhancing individual and team performance in conjunction with an organization’s strategic objectives. This ongoing procedure involves establishing goals and objectives, monitoring performance, and providing continuous feedback and coaching. Managers utilize performance management to ensure that employees’ actions and outcomes align with the company’s objectives, providing the organization a competitive edge. Performance management creates a clear correlation between employee performance and organizational goals, streamlining the understanding of people’s contributions to the organization. (Aguinis, 2023)
Effective performance management is crucial for the success of any business. To better understand this concept, let’s explore some real-life examples of its implementation. Google is widely recognized as a trailblazer in innovative management systems, thanks partly to its commitment to training its managers and leveraging data and analysis to inform their decision-making. Google launched a project to evaluate its managers as part of its performance management efforts. This initiative led to a comprehensive training program and development process to help managers and staff thrive. Additionally, Google relies on a goal-setting methodology called Objectives and Key Results (OKRs), which has proven to be highly effective and has since been adopted by numerous other businesses. (Andreev, 2023)
Also, Cargill, a food producer and distributor based in Minnesota, has over 150,000 employees. The company has implemented an innovative system to replace cumbersome performance reviews. Cargill developed its “Everyday Performance Management” system in response to studies on managers’ frustration with outdated performance management procedures. The method focuses on fostering a positive relationship between employees and managers and integrating daily activities and feedback into problem-solving conversations instead of repeating previous actions. The system is designed to be continuous, and the results have been overwhelmingly positive. According to surveys, 69% of workers found the feedback helpful for their professional development, and 70% felt valued due to the ongoing performance talks with their manager. (Andreev, 2023)
In order to implement an effective performance management system, an organization need to follow the following steps:
Build documentation aligning with your company’s goals, objectives, and culture.
Organize training sessions for managerial staff to explain the continuous performance management process.
Communicate the changes to employees and explain how they will benefit from them.
Managers should observe employee performance and behavior under the new guidelines.
Conduct the first formal review under the new process and discuss the outcome of observations with employees.
Implement necessary training and development to help employees reach their performance goals.
Hold informal catch-up meetings to ensure employees and managers are on track with their obligations and objectives.
Collect anonymous feedback from managers and employees to improve the process.
Assess and implement changes if necessary.
Repeat the cycle and maintain communication with HR if additional support is needed. (Profit.co., 2023)
References
Aguinis, H. (2023). Performance management (5th ed.). Chicago Business Press. ISBN: 978-1-948426-48-0
Andreev, I. (2023). Performance management: Best practices and examples. Valamis Group. https://www.valamis.com/hub/performance-management#:~:text=The%20purpose%20of%20performance%20management%20is%20to%20give,with%20feedback%20and%20offers%20training%20and%20development%20opportunities.
Profit.co. (2023). How to Implement a Continuous Performance Management System?. https://www.profit.co/blog/performance-management/how-to-implement-a-continuous-performance-management-cycle/

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