Human Resource Management in Context (Essay Sample)

Human Resource Management in Context
Task 1
Introduction
Performance management is defined as "a philosophy in which its value contributes to the development of a management team that provides continuous feedback and encourages teamwork". It aims to increase the value of the organization by continuously improving the performance of workers and developing their capabilities. This means that job responsibilities and expected performance requirements are in place (Arnaboldi, Lapsley, and Steccolini, 2015). Performance management provides the necessary elements for a company's strategy, makes it more efficient, and thus provides a comparative and competitive advantage in an increasingly powerful and complex business market. The main goal of the business is to ensure a sufficient return on the investment. Business performance management is therefore necessary, as it means not only success based on the resources allocated, but also knowledge of how performance management is designed to achieve them (Gerrish, 2016).
There is a strong connection between the "performance management" methods used for entities or individuals, which contribute to the overall productivity of a company. This relationship is particularly important because performance of employees is assessed on the basis of expected results and appropriate behaviors that can contribute to the overall goals and objectives of the organization (Radnor, and McGuire, 2014). The success of an organization depends very much on all the steps that need to be taken and repeated at all stages, from analyzing the work to the best results from the individual, which indirectly lead to the growth and success of the organization (Armstrong, 2009).
Main Body
A performance management system can help the employees working in the organization to understand their role and tasks in more effective manner. This encourages staff to step up their efforts to ensure that the agency's goals and objectives are met. Performance management system can play an important role in enhancing job satisfaction of employees.
In addition, technology improves the efficiency of communication throughout the company (Radnor, and McGuire, 2014). This ultimately improves the performance and productivity of the organization. Successful staff development is another goal of a system of performance management. An effective system of performance management seeks to improve the staffs’ performances that are not performing well. In the process of performance appraisal, comments often address employee deficiencies that can provide an opportunity to an employee to overcome from the weaknesses (Otley, 2013).
Implementing performance management enables organizations to upsurge their competence by acquiring and holding the employees with best capabilities to achieve the highest quality processes where the organization's joint efforts are more successful than the resilience of competitors. It opens the way to innovation; and organization will be able to build strong relationships between customers, employees, management, and brand owners (Fletcher, and Williams, 2016). Performance management is related to personnel management in that it helps to increase the productivity of companies by assigning appropriate values to personnel. Budgeting and costing can be programmed using a system of performance management. Because of this, company has reliable information and data about how the resources and money are being spent and used.
The significance of an effective system of performance management in a company cannot be exaggerated. This change has many benefits that are important to the success of the business. The productivity of a business organization can increase and the attitudes of employees can change significantly, thanks to the operation of a "performance management system" (Aguinis, and Pierce, 2018). Company workers can have a positive attitude. The motivation of employees also increases due to the effective system of performance management system. A system of performance management has the possible to make workers feel like business owners. As a result, companies can easily achieve their goals with a "performance management system". Redundancies and severances can be difficult problems (Fletcher, and Williams, 2016).
Elements and Tools of Performance Management System
"Performance plan" is the first and most imperative phase in a "performance management system" as it forms the