Analyzing Performance Management Strategies for Business Growth

This report provides an analysis of performance management strategies that organizations can implement to enhance employee performance and overall operational efficiency. It discusses various types of performance appraisals, including general appraisals, 360-degree appraisals, technological performance appraisals, employee self-assessments, manager performance appraisals, project evaluation reviews, and sales performance appraisals. The report highlights the importance of engaging with employees, retaining talent, setting clear goals, identifying opportunities and risks, and improving staff abilities. It also explores the creation of performance management strategies through project appraisal and management by objectives (MBO), emphasizing the need for defining organizational goals, defining employee objectives, monitoring performance, evaluating performance, and providing feedback. The report concludes that effective performance management strategies and appraisal systems can significantly increase employee productivity, foster innovation, and contribute to the overall success of the organization. Desklib offers access to similar solved assignments and resources for students.

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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Performance management............................................................................................................3
Undertaking the performance management strategies.................................................................4
Creating the performance management strategies.......................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................1

INTRODUCTION
The performance management for the employees can be done by the organizations for
achieving the efficiencies of the employee performance. This helps in creating the environment
for the staff where they can perform and improve their work with the better abilities. It can be
considered as the communication process of development between the employees and the
supervisors (Performance management, 2022). The presentation will explain about the various
strategies that the organizations can use for improving the performance of the day to day
operations of the organization. The aim of this presentation is to analyse and evaluate the
strategies for successful operations of the organization.
MAIN BODY
Performance management
Performance management is a tool that is used by the various organizations with a view
of increasing the productivity and enhancing the performance of the employees. This helps in
understanding and analysing the various aspects and areas of the performance of the employees
that is required to be focused so that the organization can improve it. The managers can use this
technique for improving and monitoring the performance of the staff so that the organization can
focus on the weak areas of their employees and improve that areas (Armstrong, 2021).
There are various types of the performance management in the form of appraisals that the
organization can use for the improvement of the employee abilities and motivate them to perform
better and more effectively.
 General appraisal- The general appraisal can be analysed as the continues
communication process between the employees and the managers. This process requires
the managers to communicate the goals and objectives of the organization in effective
manner and making the employees to work hard for them (Bourne and et.al., 2018).
 360-Degree Appraisal- This appraisal type makes the manager and upper level
authorities to provide the employees with the feedback on the behaviour and the
performance of the employees. This can help the employees to focus more on their tasks
and operations as the feedback is coming from an upper levelled authority.

 Technological performance appraisal- This appraisal can be given to the employees in
the basis of the technical knowledge of the employees. The managers are required to
identify the abilities of the staff and give feedbacks to them so that they can improve their
technical performance.
 Employee self-assessment- This is the appraisal in which the employees themselves
compares their current performance with the expected performance (Performance
management and appraisals, 2017). This helps the managers to give the opinions and
feedback to the employees for the future achievements so that the staff will not fail in
their performance.
 Manager performance appraisal- The appraisal is given to the managers by the team
members and the clients. This appraisal helps the managers to evaluate and improve their
performance so that they can work more efficiently for the goals and objectives of the
organization.
 Project evaluation review- This is one of the best management appraisal that can be
given to the staff for improving their performance. In this appraisal the performance of
the employees are analysed and examined after the completion of their allotted projects
or tasks.
 Sales performance appraisal- This strategy makes the employees to have a performance
target based on the target of sales that is given to them at the beginning of the year. This
makes the employees to work hard and achieve the targets and goals that has been given
to them (Bayo-Moriones, Galdon-Sanchez and Martinez-de-Morentin, 2020).
Undertaking the performance management strategies
The organizations undertake the performance management strategies in their operations
so that the objectives and goals of the business can be achieved. The organizations apply these
strategies based on their projects that can be completed effectively.
 Engaging with the employees- The organization uses the performance management
strategies in the business so that they can interact and create better relations with their
employees.

 Retention of talent- The strategies are used by the organization so that the employees
can stay longer in the organization and make the best use of their talent for achieving the
goals and objectives of the company.
 Making clear goals and objectives- The organizations undertakes the strategies in their
business so that they can create the clear and achievable goals for the organization. This
helps in giving a path to the business that is required to be achieved.
 Identify the opportunities- The strategies helps the organizations in achieving the
identification of the growth and opportunities in the market that the business can use to
achieve the improvement and growth in the day to day operations of the organization.
 Identifies the risk- The organizations uses the strategies in their business for identifying
and analysing the risks in the market that can be a problem for the operations of the
business (Uses of performance management strategies, 2022).
 Improved business performance- The strategies are useful for the organization in
achieving the growth and success in their business and operations that can be affected by
the market factors. The organizations can take various actions based on the strategies
after analysing the current performance of the company and comparing it with the
expected performance.
 Improving the staff abilities- The organizations uses the strategies for improving the
abilities of their employees so that they can perform more effectively. This gives the
motivation to the staff for working on the projects with more focus and innovation.
Creating the performance management strategies
The organizations can create the various types of the strategies that can make the business
to achieve the goals and objectives more effectively and in rapid manners. This can help the
organization by improving the operations of the company and making the employees to be more
focused and innovative towards their work. The focus on various aspects is required before
making the strategies so that the organization is able to create effective and successful strategies.
It can be created by making researches about the objectives and choosing the various evaluation
methods. The various performance appraisals also helps the organizations in achieving the
employee efficiencies (Cappelli and Conyon, 2018).

Types of performance appraisals
There are various types of performance appraisals that the organization can use for the
better performance of the employees which can help the organization in achieving improvement
in the day to day operations of the organization (Kamphorst and Swank, 2018).
 Project appraisal- The organization should give appraisals to the employees after the
completion of their projects. This is one of the most successful appraisal techniques that
can help in reviewing and improving the performance of the employees after every
projects. It will be beneficial for the organization as the staff will be trying their best to
implement change and perfection in their working techniques.
 Management by objectives (MBO)- The management by approaches can help the
organization in achieving the improvement in the day to day operations of the
organization by making objectives (Management by objectives, 2022). The objectives can
be made based on the various aspects that can make an influence on the organization and
the day to day operations of the business.
There are various steps in management by the objectives that can be considered by the
organization while making the objectives for the performance management.
 Define organization goals- The organization is required to define their goals to the
authorities and the mangers so that they can contribute in achieving the objectives in
specific time.
 Define employee objectives- The employees are required to be informed about the
objectives of the company for better work progress in the operations.
 Monitor the performance- The organization should monitor the performance and
progress of the business so that the company can make strategic decisions.
 Evaluate the performance- The performance of the employees and the operations of the
company is required to be evaluated.
 Providing feedback- Give feedback to the employees based on their performance do that
they can improve it (Knight, 2019).
The best performance appraisal system can be the project appraisal system. It helps the
organizations in constantly improving the performance of the employees. This can be done by

the companies by analysing the projects of the employees. This can help in giving feedback to
the employees that can motivate the staff in improving their performance and work with more
efficiencies on their next projects.
The organizations are required to conduct this appraisal system at the end of each
quarters so that they can have the quarterly performance record of the employees and give
feedback to improve it.
The recommendation for this appraisal system is given because it can help the employees
and organizations in improving the performance of the employees and day to day performance of
the organization.
CONCLUSION
Thus, it can be concluded that the performance of the employees and the operations of the
organization can be improved with the help of various performance management strategies. The
strategies can help the organizations in increasing the productivity and innovation of the
employees so that they can come up with various new ideas and solutions for the problems. The
organizations can use the strategies for retaining the talent in the organization and making the
employees to be more efficient and skilful. The performance appraisal system of management by
objectives and project appraisal can help the companies in increasing the efficiency in the day to
day operations of the company.

REFERENCES
Books and journals
Armstrong, M., 2021. Performance management.
Bayo-Moriones, A., Galdon-Sanchez, J.E. and Martinez-de-Morentin, S., 2020. Performance
appraisal: dimensions and determinants. The International Journal of Human Resource
Management. 31(15). pp.1984-2015.
Bourne, M. and et.al., 2018. Performance measurement and management: a system of systems
perspective. International Journal of Production Research. 56(8). pp.2788-2799.
Cappelli, P. and Conyon, M.J., 2018. What do performance appraisals do?. ILR Review. 71(1).
pp.88-116.
Kamphorst, J.J. and Swank, O.H., 2018. The role of performance appraisals in motivating
employees. Journal of economics & management strategy. 27(2). pp.251-269.
Knight, W., 2019. Business Objectives vs. user goals. In UX for Developers (pp. 29-36). Apress,
Berkeley, CA.
Online
Management by objectives. 2022. [Online] Available through:
<https://corporatefinanceinstitute.com/resources/knowledge/strategy/management-by-
objectives-mbo/>
Performance management and appraisals. 2017. [Online] Available through:
<https://www.hrhelpboard.com/performance-management.htm>
Performance management. 2022. [Online] Available through: <https://hr.berkeley.edu/hr-
network/central-guide-managing-hr/managing-hr/managing-successfully/performance-
management/concepts>
Uses of performance management strategies. 2022. [Online] Available through:
<https://www.ideagen.com/thought-leadership/blog/7-benefits-of-performance-
management>
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