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Use Of Performance Management Tools

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Running Head: USING PERFORMANCE MANAGEMENT TOOLS
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USING PERFORMANCE MANAGEMENT TOOLS 1
Introduction
Performance Management is a very important process in the achievement of strategic plan
for modern companies. In order to realize the mission, vision and goals of an organization,
employee performance management is a very critical factor in monitoring, feedback and review
of obtained results (Rudman, 2020). If we look at a company that comprises of thousands of
staff, the leadership cannot afford to delay till the end of year review results to evaluate their
employees’ level of performance. The management must put in operational performance
management tools and techniques to obtain on-time and relevant feedback to harness growth.
Most importantly, company employees expect feedback and a culture that nurtures their self-
development, and they would be glad to comprehend the levels at which their energies applied
relate to the corresponding corporate objectives. This also gives the employees a broader
perspective of what is expected of them, and how they are measured for it.
A performance management tool normally comprises of different human resource
functions like goal-setting, feedback, rewards and performance review. Having an effective
performance management tool helps human resource department and its leaders to create
flawless performance expectations through which staff can easily understand the distinct goals
expected of their job (Chahar, 2020). This would give managers a way of to strengthen
individual accountability to achieve their goals and evaluate their personal performance for
employees. In addition, a 360 degrees feedback from peers, juniors, seniors and even clients
would be important in forming a clear view of the employee performance in this era. In this
paper, I will focus on General Electric (GE) strategic plan and proposal of a tool they can use to
evaluate employee performance.

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Running Head: USING PERFORMANCE MANAGEMENT TOOLS Course Title Student Name Institution Affiliation USING PERFORMANCE MANAGEMENT TOOLS 1 Introduction Performance Management is a very important process in the achievement of strategic plan for modern companies. In order to realize the mission, vision and goals of an organization, employee performance management is a very critical factor in monitoring, feedback and review of obtained results (Rudman, 2020). If we look at a company that comprises of thousands of staff, the leadership cannot afford to delay till the end of year review results to evaluate their employees’ level of performance. The management must put in operational performance management tools and techniques to obtain on-time and relevant feedback to harness growth. Most importantly, company employees expect feedback and a culture that nurtures their selfdevelopment, and they would be glad to comprehend the levels at which their energies applied relate to the corresponding corporate objectives. This also gives the employees a broader perspective of what is expected of them, and how they are measured for it. A performance management tool normally comprises of different human resource functions like goal-setting, feedback, rewards and performance review. Having an effective performance management tool helps human resource department and its leaders to create flawless performance expectations through which staff can easily understand the distinct goals expected ...
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