Ge Is Latest Company to Reject Time-Consuming Paperwork and Yearly Appraisals
GE is latest company to reject time-consuming paperwork and yearly appraisals(1)The performance management system is a process by which employees and supervisor or line managers work together to plan, evaluate, reviewing employees’ actual work key objectives and Overall Corporation with organizations. It is such as a continuous process as well as annual performance appraisals by plan the organization’s goal, individual goal, monitoring and evaluating the process and coaching the on-going process and make sure that the individuals are fitting with their objectives and career goals. The major goal of performance management is to improve and promote employee effectiveness and repairing or maintainingthe unskilled employees’ peer. Butthe effective performance management system needs time and resources as well as the provision of the senior executives and line managers or supervisors to develop the potential outcomes from new performance management process in order to ensure that good performance results by training to improve performance and repairing the poor performance results by changing responsibilities or job rotation or termination as in appropriate. Performance management practices can be effective as a positive influence on the job satisfaction and employees’self-confidence, loyalty and achievement by providing transparent job appraisal and opinions to the employees, creatingthe relationship between performance and compensation, supporting learning, training and development opportunities on behalf of the employees in leadership workshop and training &development programmes, etc. And aslo monitoring the performance and sharing the incentive, total rewards on staff party and compared basis. Setting the accurate performance objectives within the organizations and creating individuals’ goals in order to provide recognizing and rewarding for good performance in an organization.
The importance of performance management to measure and develop employee capabilities and potential talent cannot be inconspicuous. The modern performance management which is supported by technology not only enables a translucent process, but support valuable data to measure the achievement. Those data gives HR Department insight into job rotation, recruiting, development and training. Furthermore, a performance management system would participate with potential human resources process like talent and training & development, learning management issues. It is a key to enable knowledge sharing and collaboration. The organization are investing in new performance management process and technology which can provide the competitive advantage of the company’s needs and those modern performance management system will become effective management. The Benefits of Ongoing Performance ManagementPerformance management system such as appraisals and assessments are very useful and essential part of the organization in order to perform the skillful workforce, organizations need more than individual achievements and towards a talent management cycle to focus ongoing support, improvement and achievement.Goal setting and revising:An accurate objectives and goals are essential need for employees. They also need which sort of context includes an understanding of where they fit into the organization and how they contribute to the overall achievement of the organization. Supporting the workforce with higher goals settings and direction which is enable individuals can motivate their self-confidence in the business through their objectives.