Performance Management Models
Portfolio
“Performance Management”
Executive Summary
This report is intended to assist with all the relevant information about the different types of performance management models that companies can conduct in order to gain a successful organisation. There are three main models being discussed throughout the report that contain differences in the way they approach and implement things in an organisation.
Table of contents 1. Introduction………………………..…………………………..4 1.1 Purpose…………..…………………..…….……………4 1.2 Scope.……..……………………………..……………..4
2. Model Summary ………………………………….…….........5
2.1 360- Degree Feedback…..………………….…………5
2.2 Balance score card……………………………….........5
2.3 Competing values……………………………………..5
3. Findings………………………………………………….………7
3.1 Most appropriate model .………..……………….……7
3.2 Conclusion………………………...……..…….…..…..7
1. Introduction
Performance management is a continuous process of identifying, measuring and developing the performance of individuals and teams and aligning performance with the strategic goals of the organisation (Herman Aguinis 2013). It also covers a broad range of factors that firms can encounter during a performance management program is being constructed that essentially help the benefit the organisations in effective job satisfaction and skills which can then assist in the company’s goal planning being reached. If companies become more are aware of models such as the , 360 degree feedback, competing values model and balanced score card model, it will assist their success for their performance processes to be much more effective in all areas of the company. The models vary from each other as they seek to measure different sectors of the organisations performance. The models use ‘tools such as job design, leadership development, training and reward systems’. (MSG, 2009)
1.1
“Performance Management”
Executive Summary
This report is intended to assist with all the relevant information about the different types of performance management models that companies can conduct in order to gain a successful organisation. There are three main models being discussed throughout the report that contain differences in the way they approach and implement things in an organisation.
Table of contents 1. Introduction………………………..…………………………..4 1.1 Purpose…………..…………………..…….……………4 1.2 Scope.……..……………………………..……………..4
2. Model Summary ………………………………….…….........5
2.1 360- Degree Feedback…..………………….…………5
2.2 Balance score card……………………………….........5
2.3 Competing values……………………………………..5
3. Findings………………………………………………….………7
3.1 Most appropriate model .………..……………….……7
3.2 Conclusion………………………...……..…….…..…..7
1. Introduction
Performance management is a continuous process of identifying, measuring and developing the performance of individuals and teams and aligning performance with the strategic goals of the organisation (Herman Aguinis 2013). It also covers a broad range of factors that firms can encounter during a performance management program is being constructed that essentially help the benefit the organisations in effective job satisfaction and skills which can then assist in the company’s goal planning being reached. If companies become more are aware of models such as the , 360 degree feedback, competing values model and balanced score card model, it will assist their success for their performance processes to be much more effective in all areas of the company. The models vary from each other as they seek to measure different sectors of the organisations performance. The models use ‘tools such as job design, leadership development, training and reward systems’. (MSG, 2009)
1.1
References: Aguinis, H. 2013, Performance Management 3, New Jersey: Pearson. Chavan, M 2007, “The balanced scorecard: a new challenge”, Journal of Management Development, Vol Change? And How Would We Know It When It Does?”, Journal of Business and Psychology , Vol. 26, no.5, pp183-192, viewed 28 August , 2012 http://search.proquest.com.ezproxy1.acu.edu.au/docview/867330860?accountid=8194 http://search.proquest.com.ezproxy1.acu.edu.au/docview/214898308?accountid=8194 Smith, H., & Kim, I., (2005) Balanced scorecard at Summa health system