Companies can’t grow without setting and achieving objectives. To keep things on track, they need a strategy for assessing employee efficiency. Performance management and strategic planning is a method that makes it all attainable. It involves training, guiding, monitoring, and evaluating staff members.
This method gives supervisors and employees a clear framework to work with. Many companies neglect to assess their staff, which often leads to disaster. Our comprehensive piece details the importance of performance management and strategic planning. There will also be several essay examples you’re welcome to take a look at.
🔝 Top-5 Performance Management and Strategic Planning Examples
- Performance Management and Strategic Planning
- Fast-Food Company's Organizational Change
- Emirates Airlines' Operations and Improvement
- Human Resource Policies for Staff Performance
- Al Hilal Bank Human Resource Management
📈 Performance Management and Strategic Planning: What Is the Connection?
There’s a clear and strong link between these notions. Companies use strategic planning to set goals within a particular time frame. For example, the 3rd quarter needs a 5% increase in sales of product X. This is done through a joint effort of the marketing and sales departments.
Each division gets its set of tasks crucial for the end result. Assignments are further fragmented as part of the strategic performance management process. Subdivisions like SMM or market research receive more manageable chunks of the workload. The process gets repeated until individual employees get their tasks.
At this stage, HR professionals set personal goals for staff members. They are a part of the larger performance management process. Professionals shouldn’t hurry when distributing work. Their goal is to pick employees capable of completing specific assignment. These staff members should clearly understand the relationship of their work to the big picture.
🔃 Performance Management Cycle
Modern companies develop performance management systems based on the works of Michael Armstrong. The system was slightly tweaked to meet the standards of modern industry. A typical performance management cycle consists of 4 stages.
First, a company must formulate its main goal. The target should be adequate for the current state of the workforce. Managers then make realistic tasks for departments, teams, and individual employees. Everybody involved can later discuss the proposed framework.
During meetings, they decide which candidates are fit for specific assignments. This way, managers distribute work in a fair and transparent way. If necessary, training programs must be put into place.
A plan won’t succeed without the means to see it through. That’s why supervisors have to keep an eye on the current goals of their subordinates. This way, they can better provide support or deal with issues. Many organizations hold meetings every two weeks to see if things are smooth.
Regular meetings also mean that the company won’t be caught off guard by unforeseen events. For example, if one of the workers falls ill or there’s a new law that influences the workflow. This format helps adjust to them in a timely fashion.
Developing and Reviewing
At this stage, management determines the effectiveness of previous segments. The development and reviewing part examines employee and supervisor results. It takes a look at how well they managed tasks, what they’ve learned from the experience, and how training influenced their end result. It may show areas that need improvement.
Rating and Rewards
After getting information from teams, managers have to look at their achievements. Some of the staff have to be disciplined due to poor performance. It may be something as small as a warning or as big as termination. Others deserve a reward for a job well done through bonuses like an extra vacation day. Recognizing good workers is important for team morale.
As you can see, this process is not just a simple evaluation. Do you want to learn even more about it? Read the performance management essays provided by our website.
💡 Essay Ideas on Performance Management and Strategic Planning
- MOA Logistics Company Training and DevelopmentBusiness essay sample: This paper presents training and development proposal to MOA Logistics based in the Middle East region for the newly hired managers inculcates the ADDIE Model and concepts of adult learning.
- IBM Company: Leadership Development ApproachBusiness essay sample: This case shows that IBM developed a leadership development approach responding to the leadership needs of the organisation and not relying on single theories.
- Alibaba Company: Strategic Information NeedsBusiness essay sample: Alibaba Group consists of Internet-based businesses, which aim to promote buying and selling of anything across the globe via the Internet.
- Public Sector Organizations' Strategic ManagementBusiness essay sample: This paper concerns implementation of strategic management in public sector organizations where it provides positive outcomes and improves the performance.
- Public Organizations Embracing Strategic ManagementBusiness essay sample: The government of the UAE has managed to introduce considerable improvements not only into the private but also into the public sector during recent years.
- Google's and Westpac's Human Resource StrategiesBusiness essay sample: This paper discusses the role that human resource professionals play in strategy formulation using the cases of Google Company and Westpac Corporation.
- Strategic Human Resources Management in Service IndustryBusiness essay sample: There're 5 steps in Strategic planning in Human Resources maintained in this report: Mission and goals. Environmental analysis. Strategic formulation. Strategy implementation.
- Human Resource Planning in a Changing and Dynamic Economic EnvironmentBusiness essay sample: The literature review will focus on the many aspects of human resource planning, the advantages and disadvantage of HR planning, some aspects of HRM, and theories and concepts.
- Effective Performance Management Systems in Australian OrganizationsBusiness essay sample: This report will focus on the strategies that organizations, especially in Australia, can use to improve the performance management system.
- Eau Doux Company's Professional Strategic ManagementBusiness essay sample: The paper discusses the issues of strategic management through the Henri Fayol Classical School of Management, performance management, and provides research of Eau Doux Company.
- Managing Human Resources: Through Strategic PartnershipBusiness essay sample: Strategic Human Resource Management (SHRM) is the overall organizational method of screening the function and purpose of HRM in a well-built organization.
- Barclays Bank: Roles of the Human Resource ManagementBusiness essay sample: Barclays bank has portrayed the role of human resource management and thus it has a highly experienced workforce and its productivity is high.
- Food and Beverages at Southwestern University Football GamesBusiness essay sample: The president of Southwestern University has noticed the increasing capacity of the stadium, hence forming a strategy to ensure that the number is accommodated.
- Electronic HR Management Using Clerk.ly as an ExampleBusiness essay sample: This report aims at defining e-HRIS, analyzing options of e-HRIS software programs, and providing recommendations for Clerk.ly as to whether it would benefit from adopting e-HRIS.
- Balanced Scorecard: Strategic Planning and Management SystemBusiness essay sample: A balanced scorecard plays the role of giving feedback to the internal business procedures and external results towards the improvement of strategic performance and results.
- Human Resource Management for Tourism, Sports and Creative IndustriesBusiness essay sample: Scholars in HRM have attempted to develop different approaches in managing events. We shall focus on human resource management in sports.
- Performance Management Strategy in the Pfizer OrganizationBusiness essay sample: Pfizer is the most high-profile and premier biopharmaceutical cooperation. Its significant sections include Pharmacy Services and Long-Term Care.