Business and Management INK

Performance Management Systems, Part 1

October 24, 2011 722

What is wrong with our current performance management systems and what are the strategies for improvement?

Compensation & Benefits Review will answer this question with a collection of articles from their past issues.

Howard Risher, Pay and Performance Consultant, published “Getting Performance Management on Track” in the September/October 2011 issue.

Performance management practices have been the source of dissatisfaction and criticism for decades. New approaches and the adoption of technology have failed to quiet the critics. Despite the problems, the management of employee performance remains one of the basic responsibilities of managers and supervisors. Research by Gallup and others has highlighted the importance of managers in creating high-performance work groups. Edward Lawler summarized the ingredients for effective practices in his book Talent. More recent developments augment his conclusions. Performance management can be a valuable tool when systems are properly designed and implemented. The key is providing adequate preparation and support for managers.

Robert Morgan, Hudson Talent Management, published “Making the Most of Performance Management Systems” in the October 2006 issue.

Employers can harness technology to optimize talent. Too many companies are finding that their performance management systems are falling far short of expectations. In spite of the limited progress so far, the systems do hold the potential for greatly improving the capabilities, efficiency, and strategic value of compensation and benefits professionals and their colleagues in human resources.

Victoria Williams, Product Design, SMG, published “Making Performance Management Relevant” in the July 2001 issue.

The latest thinking on business strategy, human resource development and intellectual capital management notes that people are our most important asset. But historically, people have been entered as a cost rather than an asset on the balance sheet. No matter how much things change, two things are certain: People want to do a good job, and organizations need to help their workforce perform in a way that makes it more competitive. This can be done with a performance management system based on four principles: aligning daily activities with strategy, ensuring that managers and employees collaborate, integrating development with performance and providing continuous feedback so that the organization can ensure it has the right people in the right place at the right time.

Danielle McDonald, Hewitt Associates, and Abbie Smith, University of Chicago, published “A Proven Connection: Performance Management and Business Results” in the February 2011 issue.

A new research study shows a clear correlation between HR performance management programs and improved bottom-line results.

Allan M. Mohrman, Jr. and Susan Albers Mohrman, both of the University of Southern California, published “Performance Management is “Running the Business” in the August 1995 issue.

Laterally oriented, fast-changing organizations make traditional performance management practices obsolete. Competitive companies need to embrace effective new approaches to managing performance.

Are you interested in finding out more about performance management? Part 2 will be available tomorrow and will look at performance management from a  whole new angle.

If you would like to find out more information about Compensation & Benefits Review, please click here. If you would like to receive alerts whenever new articles or issues becomes available, then follow this link.

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Business and Management INK puts the spotlight on research published in our more than 100 management and business journals. We feature an inside view of the research that’s being published in top-tier SAGE journals by the authors themselves.

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