The paper "Human Resource Development Function of Commonwealth Bank of Australia" is a good example of Human Resources case study. Business Development Manager is one key position in an organization. People holding such position are expected to create efficient business plans which can raise brand loyalty, improve customer satisfaction and generate more revenue. However, in the recent past, the Commonwealth Bank of Australia has struggled to compete in the market due to what is considered to be underperformance of the Business Development Manager. In such a situation, management theorists have recommended for the integration of performance management system as an effective tool for improving the performance of staffs (Verbeeten 2008, p. 428).
In this essay, the paper will review pieces of literature and analyze features of best practice in performance management that would help the organization better manage its underperforming business development manager. The essay will also analyze how human resource development (HRD) function of Commonwealth Bank of Australia integrate with the organization's performance management function in order to assist in the better management of the business development manager. In addition, the paper will discuss specific issues surrounding the management of 'underperformers' that need to be taken into account generally in an effective performance management system and HRD function in Commonwealth Bank of Australia. The features of best practice in performance management that would help Commonwealth Bank of Australia better manage their business development manager According to Varma, Budwhar and DeNisi (2008, p. 76), performance management is defined as a practice in which organization creates objectives, determine standards, allocate and evaluate tasks, and give rewards.
This strategy is used in enhancing individual, organizational and team development and performance as well as activities created to make sure that objectives are time and again being attained in an effective manner.
Performance management has features that can help an organization effectively manage their employees. Some of the features of best practice are job description, system buy-in, training, timeliness, performance feedback, performance objectives connected to corporate strategies and performance is connected to the remuneration (Appraisal Smart 2017). An appropriate job description is an essential feature of best practice in performance management (Mayhew 2017). Management experts claim that with no precise understanding tasks, it is impractical to recognize what the staff is required to do.
Mayhew (2017) argued that the job description is important because it contains vital functions for every position and the prerequisite needed to carry them out. It means that the Commonwealth Bank of Australia needs to clarify job description to business development manager to make the holder of the position focus on his duties and avoid a situation of task overlapping and conflicts. Another ideal feature for best practice in performance if the buy-in of the system. A performance management system is considered appropriate if management and employee agree to use it in management (Mayhew 2017).
In the Commonwealth Bank of Australia perspective, when the job holder and performance evaluator buy into a performance management system, conflict is reduced even if the underperformance is posted. Training is a perfect attribute of best practice in performance management (Appraisal Smart 2017). Performance management must have a provision of training, particularly when a holder of a position has underperformed. Cokins (2005, p. 51) asserted that training improves performance, but also save the company a situation of recruitment now and then.
At the moment, the business manager is underperforming and it shows that he lacks some knowledge and skills to do his task. The training gives employees an opportunity to learn and improve their performance better in future (Appraisal Smart 2017).