Table of Contents
Executive Summary: 1
Table of Contents 2
What is Performance Management: 3
Performance Management Practices at Transco Cargo: 4
Performance Management Practices in the shipping and Freight Forwarding Industry: 4
Short / Long Term Goals to Improve Perfomanace Management at Transco Cargo: 4
Conclusion and Recommendations: 4
What is Performance Management:
Performance management is the process of strategic human resource managers identify, measure and then develop the performance of each employee in line with the overall goals and objectives of the organization. This is a three step process which include setting up goals and objectives, then following it up by observing the cu
ent performance level and then finally giving both positive and negative feedback based on the observations.
Performance management systems are mainly used for 3 main purposes in general which include a strategic purpose which is used to fulfil the strategic goals and objective of an organization, then administrative purpose in order to fulfil the administrative needs of the organization such as pay structure and finally the development purpose which is there to fulfil the development aspect of the organization.
Also in order for a performance management system to work well it needs to be reliable thus need to be without random e
or. Also it needs to be acceptable by not only the assessor but also the assesse. Also Specificity and the validity are vital characteristics of a good performance management system.
There are five main approaches which we
oadly use in order to measure performance and these include the comparative approach which compares one employee’s performance to another or several others. Also this includes and attribute approach which looks at the degree to which the selected individual possesses the desirable attributes. Next we have a result based approach which looks at the final measurable contribution made. Then we also have a quality approach which looks at the which focuses on the end customers satisfaction and then finally we have Behavioural approach which looks at the overall behavioural accept of the individuals performance.
Conclusion and Recommendations:
In conclusion, even though I have done extensive thinking regarding my goals and how I plan of achieving them through work experience and extensive study to become a success hotelier. I will need to properly research and observe the market in shaping my decisions as the business needs to be of demand by its market share.
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