Rent.com.au Performance Management System Page

Running Head: Performance Management System
Table of Content:
Introduction:.......................................................................................................... 2
Findings of existing Performance Management System:.......................................3
Conclusion............................................................................................................. 5
Recommendation................................................................................................... 5
Biblography:.......................................................................................................... 6
Rent.com.au
Performance Management
System
Assignment 1

Performance Management System P a g e | 1
Introduction:
Rent.com.au was established in the year 2007 and it helps people who are in
look out for a space to rent, it caters to a market of approximately 7 million,
which is roughly 30% of the total Australian population. The company is open to
all, real estate agents, individual owners, private landlords, property managers,
builders, retirement services and universities; hence it covers an entire spectrum
of people who are looking to rent their property. The website in no time started
gaining good traffic and today it is ranked one of the top 10 property websites in
the country. The company employs almost 400 people who work in different
departments to achieve the goals of the organization.

Performance Management System P a g e | 2
Findings of existing Performance Management System:
Performance management system is widely used across all the organization to
plan, monitor and review an employee’s work objectives and his overall
contribution to the organization. It is a continuous evaluation system of setting
objectives, assessing the progress and facilitating on going coaching and
feedback to ensure that the employees are meeting their objectives and career
goals.
A: Managers in every organization has a duty to allocate work to their
subordinates, Rent.com.au follows a process, where individual team members sit
with the manager and work is allocated to them on an individual basis. At times,
whenever a team is formed for a common work, all the employees sit across the
table and the managers gives them a document specifying his work
responsibility.
B: Code of conduct are discussed in the induction round, where all the new
joiners are given an employee handbook and are asked to study it in depth,
furthermore, the HR gives them a presentation on the company policies and
code of conduct. Key result area (KRA’s) are made by the manager and the HR
representative and discussed with the employees in person.
C: Risk analysis is done in accordance with the organizational and legal
requirement.
D: Rent.com.au uses one of the contemporary method of appraisal, 360 degree
balanced feedback system. This tool assesses the employees round the clock
with the help of peer to peer feedback and not just the managers.
E: Managers get training on how to use the 360 degree feedback system by the
HR managers; all the managers are given the training on the implication and
execution of it. For the employees a not so formal training is conducted by HR
manager, who then tells them the parameters on which their performance will be
evaluated and the process associated with it.
F: Employee performance is monitored on a quarterly basis on their key rating
areas. They are given a set of goals to accomplish in the quarter, based on the
percentage completion of the goals the performance is evaluated.