Importance of Performance Management in Hamleys

Developing Individuals, Teams and Organizations

Contents
INTRODUCTION.....................................................................................................................................3
MAIN BODY.............................................................................................................................................3
REFERENCES..........................................................................................................................................6

INTRODUCTION
The report is based on assessing the role of performance management and analysis of various
kinds of approaches of performance management. These all aspects are addressed in the context
of Hamleys company which is a global toy retailer.
MAIN BODY
(a) Explain why effective performance management is so important to Hamleys.
Performance appraisal is the process of guaranteeing that the aims of the study are met in
an efficient manner by a sequence of tasks and outcomes (Aguinis, 2019). Performance
management can concentrate on the organizational culture, a unit, an individual, or the
procedures in place to handle various tasks. Below some key importance of performance
management in the context of Hamleys is explained in such manner:
Helps in boosting morale- The best setting to formalize and record praise is given by
performance evaluations. But feedback is not always about setting targets for the portion
to come. It can also provide a direct supervisor with an opportunity to consider
employees on their staff. In the context of above Hamleys, this plays a significant role in
order to boost morale of employees.
Helps with identifying the right employees for promotion- All staff is going through the
same thing of performance assessment. The administrators will help assess them in the
same, clear way for advancement, pay raises or relocation. This will not only help to
ensure that the best person is selected for promotions, but it will also allow the hiring
process to be more open and equitable. With rationale to above company, this plays a
significant role in order to promote right employees as per their skills and nature.
(b) Evaluation of each approach:
Paired Comparison- In selected work ability groups, the paired comparative approach
bases judgments on the results of an individual compared to his or her colleagues