The paper "Human Resource Management and Performance Management" is a wonderful example of an assignment on management. Performance management is a holistic process of managing people and the environment they operate in order to realize the shared goals as well as the strategic objectives of an organization (Philips, 2007, p. 31). Every business has targets that are pursued making the process of performance management integral in the operations of a business. Strategically, the process of performance management entails setting out goals and coming up with competency and capacity to achieve the set goals.
Since these goals cannot be achieved by an organization’ s potential, there are people who should be responsible for the realization of the goals (Bohlander & Snell, 2009, p. 44). Since performance management is a process that entails managing many factors, it should be guided by the following key elements Planning and target settingPerformance is dynamic and can be of any magnitude ranging from poor to excellent. It is thus important for an organization to determine when performance can be termed as poor, average, good, and excellent. This is particularly important when an organization seeks to compare the performance of one group or an individual with another.
When determining the level of performance expected, an organization is said to be setting targets. Therefore, a target can be defined as the criteria set to determine whether performance reaches an acceptable particular standard based on characteristics (Philips, 2007, p. 33). For instance, if a company’ s objective is to increase the number of customers; the target can be achieving measurable growth in key account spending since it is not possible to come up with an exact number of customers (Sahoo & Mishra, 2012, p. 3). When setting targets, it is realistic to first assess what a process is currently achieving, focus on variation, and then set the target at an 80 percent basis level that the process can deliver.
A key element when setting targets is to set a target that is challenging but achievable against realistic performance indicators (Prowse & Prowse, 2010, p. 147). Achieving such targets ensures that an organization continues to improve its services in line with its goals and objectives.
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