Performance Management Policy at Australian Hardware

Australian Hardware
Assessment Task 2:
Design and train performance management
systems
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Australian Hardware
Performance Management Policy
Main Features
Goal-setting and performance measurement processes
Australian Hardware is an organisation which focuses on it's performance and this is based on the
development and progress of employees working in that company. Moreover, for providing opportunities
for professional development, the Australian hardware is aiming to help individuals by monitoring and
supporting the employees for personal growth and development (Kearney, 2018). The main aim of this
policy is to ensure that employees and their managers have a common understanding of goals that have to
be achieved in personal as well as professional life. This policy aims that there is employee development
opportunities recognition and then these are implemented effectively.

Australian Hardware
Performance Management Policy
Formal and informal feedback
Formal feedback Informal feedback
This includes formal appraisals, performance reviews or
meetings with superiors or executives.
This can be communicated in everyday interaction with
a colleague or manager and this is a individual feedback
seeking behaviour.
This feedback is provided through management
accounting system (Mizrahi, 2017).
This is provided through social sources like task, peers,
superiors, person to person feedback, etc.
This is provided by formal mechanism This is provided independently
This is a scheduled feedback which employees have to
give to their managers.
This feedback is taken anytime.

Australian Hardware
Performance Management Policy
Performance appraisal
Performance appraisal is defined as regular review of an employee's performance and contribution to an
organisation. This is also known as annual review, performance evaluation or employee appraisal
(Mizrahi, 2017). There are various benefits that Australian hardware has after evaluating performance
appraisal. These are listed below -
Promotion - Performance appraisal helps managers to create promotion programs for efficient and
effective employees. The inefficient or non performers of the company can be dismissed or demoted.