logo

Performance Management Systems for Steel Co

   

Added on  2020-01-15

11 Pages2429 Words314 Views
MANAGING PEOPLE

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Outlining advice for Divisional Director regarding various issues faced by Steel Co................1Structuring individual performance targets so-as-to maximise firm’s performance...................2Using performance management system to improve employee development andcommunications...........................................................................................................................3Need to integrate performance management systems with other Human Resource (HR)processes......................................................................................................................................5Effectiveness of linking performance to financial reward...........................................................5CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7

LIST OF FIGURESFigure 1 Stages of performance management system.....................................................................4

INTRODUCTIONManaging employee performance within an organization plays a most crucial role inattaining higher competitive advantage. With the help of effective and efficient performance,staff members can give their best and try to develop quality products. By providing excellentservices to customers, company can easily maintain the loyalty base of customers (Bol, Kramerand Maas, 2016). For the same, present study is based on the case study of performance management of theorganization named Steel Co. This is a small manufacturing company which is facing hugedifficulties at the time of managing their employees. This company is run by an owner-managerwith 65 people around them as manpower. Most of their workers are having mixed performancedue to long term relationship. Company is serving its business operations from last thirty yearsby majorly having its two sections i.e. sales team as well as manufacturing operations. Accordingto the given case scenario, manager of Steel Co. uses autocratic approach through which theyusually keep command over all their workers. Within these recent years of facing toughcompetition, it is becoming more difficult for them to maintain their financial performance aswell as trading conditions. In order to secure their poor position, owner manager has imposed apay freeze for last three years with certain terms and conditions. There are several employeeconditions which are quite poor and have no occupational sick pay scheme as well. Due to theuse of autocratic approach, employees feel dissatisfied and are not able to perform their tasksappropriately. On the very next hand, divisional director uses participative approach and try tounderstand worker’s needs. The most common problem faced by divisional director is related tothe working of group of employees. Majority of their workers are highly associated with goodearning but they lack commitment. After identifying all such problems, divisional director offirm explained business advisor to make several effective changes regarding culture etc. by theway of using performance management as a tool. Further, this study gives significantinformation about the various ways through which performance of individuals can be improved. Outlining advice for Divisional Director regarding various issues faced by Steel CoThis study brief out the different ways through which divisional director can overcomewith the existing issues within their organization. Here, they have already implemented threedifferent ways to manage the performance of individuals as well as firm (Domínguez-Falcón,Martín-Santanaand De Saá-Pérez, 2016). But after monitoring the changes, divisional director1

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Managing People & Performance Essay
|9
|2020
|517

Case Study on Performance Management System - Steel Company
|7
|2021
|282

Talent Management Report of Steel Co.
|13
|3920
|45

Performance Management Issues of Steel Co | Report
|11
|2457
|241

Structuring Individual Performance - The Steel Co
|7
|1894
|404

Talent Management | Case Study of the Steel Company
|11
|2397
|171