Compose a 3500 words essay on Performance management report of a company. Needs to be plagiarism free!Performance Management System is crucial in that it will accord the newly revamped company with pr

Compose a 3500 words essay on Performance management report of a company. Needs to be plagiarism free!

Performance Management System is crucial in that it will accord the newly revamped company with proper systems which will identify, recognize, reward and therefore retain high our top company performers so that sustainable growth can be achieved. Performance Management System will help the company achieve this. Fundamentally this system is composed of: Process and people. The process elements include factors such as job descriptions, rating criteria, time period of appraisal discussions together with reward and recognition systems. The people element is composed of the manager who drives the system by setting expectations communication plans, encouraging development, giving and receiving feed-back.

Recognizing the fact that employees work hard, and that the company likewise must give the best of criticism, nonetheless, much can be gained from a good conducted appraisal practice. They can be good for the company, good for the employees working for the company and ultimately good for the employer too. This is because, good criticism or constructive criticism, helps the company not only to improve it’s performance in its objectives, but also in making decisions about skills that are needed for development in the job scenario, in order to achieve company’s ambitions and employee’s future career (HENDERSON,1984:235).

It important for at the onset for everyone in the company to realize that appraisal is not the time for secretly held grievances to be suddenly revealed out on the unsuspecting recipient. This is because appraisals are the time for taking stock of company achievements and setting of the agenda for future action.

Appraisals help employee’s know how they are viewed by other work mates, their managers, supervisors, the customers, clients or suppliers. Moreover, it is useful for the company to focus periodically on its