It is widely acclaimed that, Performance management is the process of creating a work environment or setting in which people are enabled to perform to the best of their abilities. Performance management is a whole work system that begins when a job is defined as needed. It ends when an employee leaves your organization. Many writers and consultants are using the term performance management as a substitution for the traditional appraisal system. I encourage you to think of the term in this broader work system context. A performance management system includes the following proceedings. Develop clear job descriptions. Select appropriate people with an appropriate selection process. Provide effective orientation, education, and training. Provide on-going coaching and feedback. Conduct quarterly Performance development discussions. Design effective compensation and recognition systems that reward people for their contributions. The bewildering subject of managing and motivating people in organizations to willingly give of their best or HRD, to use jargon is returning to the limelight for all sorts of reasons. The more serious media speak of the dearth of high-performance individuals, alongside the sharp rise in mid-career stagnation or, worse, unemployment. The slump in the IT market, the reversal of the spiraling salaries of a few years ago, and the eternal issues of relating performance meaningfully to pay, with the excitement over economic value added as a tool for doing so, have all come to the force in managerial discussions of late. All these are clear signs of a changing role of the people management function in industry. What have changed for us in recent times are two significant breakthrough developments: The first is the dawning consciousness more than ever before that managing human resources: in practice is a line job and, therefore, can only be executed by the active involvement of a number of key frontline and senior managers. The second aspect is a challenge to three traditional assumptions of top management i.e. that people, generally speaking, was plentifully available, easily replaceable and relatively inexpensive, compared to other critical sources of competitive advantage. In the past decade, things have changed for most corporate organizations along one or more of the three dimensions. Increasingly, it is also becoming clear that, where everything else is imitable or moveable, it is the eminence of people that can make a big difference. And there is, thus, a contradictory paucity of really effective, talented people, amidst the perceptible plenty of qualified job-seekers. The critical success factors for performance management are: Gather a baseline for both network and application data. Perform a what-if analysis on the network and applications. Perform exception reporting for capacity issues. Determine the network management overhead for all proposed or potential network management services. Analyze the capacity information. Periodically review capacity information for network and applications, as well as baseline and exception. Have upgrade or tuning procedures set up to handle capacity issues on both a reactive and longer-term basis. Performance management is an umbrella term that incorporates the configuration and measurement of distinct performance areas. This section discusses six concepts of performance management: Gathering Network Baseline Data Availability Response time Accuracy Utilization Capacity Planning From the aforesaid discussion and the significant aspects involved in the Performance management system, it is felt that, it emphasizes the relationships between strategy formation, change management, and resource management. Further more, it provides appropriate solution to the queries such as, What resources does the firm have and how can they create new resources How current resources support organizational strategies perform and How can resources be used and re-used over time. In line with the above, it is worth while to mention here that, Strategic resource management looks for value while trying to exterminate waste. Under a strategic resource management system, management accountants will be able to participate in resource-related direction setting, in the design and implementation of organizational change, and in the development of control systems and performance measurements. The most critical step in the alignment process is tying performance measures to the strategic goals of the organization It is suggested that the best way to do this is by using a balanced scorecard. General Motor's European scorecard is an example to execute eight business units, twelve separate functions and twenty-five national sales companies in different countries. About the Author:
Dr.R.SRINIVASAN is a Post graduate in commerce and corporate secretary ship . He received his doctoral degreein the Managementfaculty from Alagappa University in 1997. He is now Working as an ASSOCIATE PROFESSORin Post graduate and Research Department of Corporate Secretaryship at Bharathidasan Government College for Women (Autonomous), Pondicherry University, Puducherry.He currently teaches Accounting ,financial management and Research Methodology Subjects. Before Joining BGCW, he was teaching in SNR College, Coimbatore, Sindhi college, Chennai& T.S.Narayanasamy College, Chennai for eight years. He was with the industry for a short term at Salzar Electronics Pvt. Ltd, Coimbatore. He has about 20 years of teaching experience and having research experience of 15 years. His interests are in Accounting and finance, Capital Market, Quantitative Methods. He underwent the Faculty Development Programme at Indian Institute of Management Ahmedabad during 2000-01. He has presented 20 papers in national and international conferences and has published twenty papers in the areas of Finance and Human resource Management in National Journals. Co-authored a book titled, Investors Protection, published by Raj Publications, New Delhi He has delivered lectures in contemporary finance topics at Pondicherry University. He is involved in consultancy projects for Godrej Saralee, Chennai in the areas of Statistical Applications. He has supervised a number of research projects in the area of corporate finance and Human Resource Management. He is the Board of examiner in corporate Secretaryship and Management for the past two decades.
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