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Performance Management System Assignment

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Added on  2019-10-18

Performance Management System Assignment

   Added on 2019-10-18

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Part 1Why do some organizations promote from within, whereas others rely on outside hiring? What are the benefits and pitfalls of each approach?Answer:Every organization has a robust Performance Management System, which evaluatesthe performance of every employee gets rewards and recognition accordingly. Organizationshave understood that every employee is equally part in the progress of the company, hencethey need to chalk out a path for career progression for each employee keeping the careeraspiration of employee.With the growth of the company, the amount and criticality of work also enlarges. Thus there isa constant need for skilled and competent new manpower. To cater to this ever growing needof manpower and to constantly fill the gap, the organization prefer mix to strategy. That is topromote from inside the organization and to source the right talent from outside theorganization.There are both benefits and pitfalls of both promotion from within and outside hiring strategy.1. Internal Promotion is used to create the environment competition in the organization whereas the strategy of outside hiring kills the competition as the employee do not have motivation for hard work.2. If the person is internally promoted then he is well aware of the organization as he has been part of it since a long time, thus it will be easy for him to give output within no time. In case of outside promotion, it takes a significant time for a new joiner before he understands the systemand starts performing.3. When the person is promoted to take higher responsibilities, his integrity is of prime importance. The person within the organization have proven track of integrity, whereas for newjoiner it will start form the scratch.4. The person promoted from inside the organization will be exposed to the system of a single organization, thus will have limited ideas. Whereas person coming from outside will have newerideas that can prove to be helpful to the progress of the organization.5. When a person is promoted to higher posts from the group in an organization, it is difficult for others to accept him/ her as their boss. This creates difficulty in getting the desired results initially. In case of person selected from outside the organization, he/she is generally accepted.6. Many a times it is difficult for the organization to find the right talent within the organization.Thus they are left with no other option except to hire from outside.Thus each approach has its benefit and pitfall. Right mix of both strategies will give good results.
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