Essay About Performance Management And Whirlpool Management

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1. Question: What were the two key things that Whirlpool management did to achieve productivity gains?
Ans: There are two key things that whirlpool management did to achieve productivity gains-
Firstly- management and labor worked together to keep the plant open and increases productivity without using more resources and
Secondly – the company overhauled the manufacturing process and taught its workers to how to improve the quality.
2. Question: Who has benefited from the productivity gains?
Ans 2: When Whirlpool’s improved their quality and productivity gains workers are benefited by increasing their pay.
3. Question: How are productivity and quality related?
Ans 3: When quality improved then productivity increasing because overhead costs and costs of inventory decreased that’s why productivity and quality related.

Or –
Without quality products, productivity can’t increase, on the other hands when best quality products produced, productivity increased, because market demands increased for its better quality. Thus productivity and quality both are related.

4. Question: How can a company afford to pay its workers for productivity gains?
Ans 4: A company can reword workers by increasing their pay for productivity gains.
Ans 4: When a company agreed to gains sharing a plan for reworded workers by increasing their pay, then workers are greatly encouraged and motivated to attend their jobs sincerely and thus the productivity gains.

Performance Management
“Performance management is a proactive partnership between employees and management that helps employees perform at their best and align their contributions with the goals, values, and initiatives of the organization”

About General Electric Company
General Electric, GE is an American multinational conglomerate corporation
Incorporated in New York and headquartered in Boston, Massachusetts
GE is ranked among the Fortune 500 as the 68th-largest firm in the U.S. by gross revenue,
14th most profitable As of 2012, the company was listed the fourth-largest in the world among the Forbes Global 2000
Number of employees: 333,000 (2016)
Revenue: US$ 123.7 billion (2016)
Area served: Worldwide
CEO & Chairman: Jeffrey R. Immelt
Publicly Traded on NYSE: GE
Founded: April 15, 1892; 124 years ago in Schenectady, New York
Headquarters: Boston, Massachusetts, United States
Some of the Categories of Products:
Aircraft engines
Appliances
Electrical distribution
Electric motors
Energy
Finance
Health care
Lighting
Locomotives
Software
Water
Weapons
Wind turbines and many more categories of products they are produced
Starts: Thanks you my group member mr. Neaz, Thank you once again to our favorite lecturer Mr. ABDUL KADER NAZMUL sir.to give me opportunities here.
It’s my great pleasure to brief here the performance management of General Electric USA. In this regards I’m discussing about ‘what is Performance Management —General Electric

Performance Management
We know that “Performance management is a proactive partnership between employees and management that helps employees perform at their best and align their contributions with the goals, values, and initiatives of the organization”

Now come to the points –What is Performance Management?
Performance management is a process by which managers and employees work together to plan, monitor and review an employees work objectives and overall contribution to the organization

(traditional)There are 4 Common Performance Management Techniques those are applied by (GE):
First of all 1. Performance Measurement –
Performance measurement is the process whereby an organization establishes the parameters within which programs, investments, and acquisitions are reaching the desired results.

There are 4 stage of Performance Measurement
Stage 1 – Annual Performance Review — which is Assess results Prepare current year development plan
Stage 2 – Plan performance for the year— Set KRAs {Key Result Area(KRA) and Key Performance Area(KPA)} Finalize current year Development plan
Stage 3 – Reward and Recognition — Performance‐linked pay Recognize Top Performers
Stage 4 – Mid-term Review—Review results Competency development plan
2. Performance Appraisal – An annual review of an employee’s overall contributions to the