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Performance Management Issues of Steel Co | Report

Added on - 27 Jan 2020

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TALENT MANAGEMENT1
Table of contentsIntroduction......................................................................................................................................31. Evaluation of the PMS to introduce new a new system..............................................................32. Evaluating performance objectives..............................................................................................63. Identification of barriers while implementation and ways to mitigate........................................8Conclusion.......................................................................................................................................9Reference List................................................................................................................................112
IntroductionSuccess of any organization depends on the collaborative efforts of the staffs (employees) andmanagement regardless of any sector. Talent management and performance management system(PMS) are the two mechanisms through which hiring, training and retention of the efficientemployees can be ensured following a two-way method (feedback collection and review)ensuring contribution towards organization meeting desired goals (Al Arisset al.2014). Thecurrent report aims to deal the performance management issues took place in Steel Co, a smallmanufacturing firm being the business adviser. In case of manufacturing company, PMS playssignificant role in ensuring productivity and quality of the products. Main issues raised in thecase study depict lack of efficiency among employees (due to lack of training), poor profitmargin, pay freeze (due to lack of desirable performance), autocracy and de-motivation amongthe employees. While dealing with the issues from divergent aspects, efforts will be made topropose a new PMS along with proper implementation strategy through the report.1. Evaluation of the PMS to introduce new a new systemIt is noteworthy to mention from the referred case study that throughout the years, the owner-manager has possessed an autocratic approach resulting in poor communication raisingdissatisfaction among the employees (Dries, 2013). Notably, most of the employees were semi-skilled or unskilled resulting in poor financial performance of the firm. However, after theappointment of the divisional manager efforts have been made to enhance the performance of theemployees ensuring productivity and quality. PMS has been devised as a tool aiming towardsbetter performance and enhanced communication. The divisional manager however maintained aparticipative approach initiating number of activities as follows as the part of performancemanagement system.Formation of teams including team leadersSetting performance against productionBonus scheme based on performanceSetting up production targetsIntroduction of staff forum3
The efforts taken by the divisional director may be praiseworthy than the approach maintainedby owner-manager. However, the implemented PMS in Steel Co can be criticized from differentaspects as it resulted in vain even after the evaluation after almost one year. There were someissues involved in the PMS those are listed below.Lack of training among the team leaders and employeesLack of health and safety measures resulted in certain issuesLack of team performance due to proper supervisionInsufficient amount (money) in the implemented bonus schemeLack of proper evaluationLow commitment towards work and own performanceListed aforementioned issues elucidate that there were certain loopholes in the PMS. In order toenhance the performance of the employees, there is a need of introducing a new system so thatthe firm performs well in the competitive environment.Van Dooren(2015) noted that PMS is thecollaborative efforts of planning, monitoring and reviewing performance of the employees basedupon the desired goals. This is not an annual performance review but a continuous process.Feedback collection is one of the key aspects of PMS so that gaps could be identified andmitigated. Thenew PMSwould contain the following elements:1.Clear vision and objective2.Accomplishment list3.360 degree feedback collection4.Rating by the supervisor5.Self-development planMost importantly, it would be fair and consistent not like the previous one in Steel Co. inaddition to that, it would ensure maximum performance along with continuous employeedevelopment. As being a manufacturing firm, the responsibilities of the employees and themanagers are listed below:4
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