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Training & Development Assignment - Performance Management Plan
Discuss the importance of the performance management process and the steps involved. For this assignment, you will create your own performance management plan.
Answer - PERFORMANCE MANAGEMENT PLAN
Introduction
Performance management process is an effective approach to encourage managers and employees of an organisation. Marks and Spencer is a major UK based multinational retailer that moderates its service by ensuring regular accomplishment of goals in an effective way. It is a good assurance for a company with sustainable globalization to deliver modified business process with suitable plan and daily assessment. This assignment is going to describe the importance of performance management process and involved steps that this organisation follows. Moreover, strategic fundamentals are key concern of this study to state about company offerings with a suitable provision of feedback efficiently.
Describe how learning and management strategies impact strategic performance management processes?
Impact of management strategies
Management strategies are vital to modify performance of an organisation by creating excellent product with better assurance of employee participation. Utilization of performance management software may be the cool and innovative approach to determine frequency of performance. In the present world, majority of organizations follow this golden rule to meet goals of company with good performance objectives. According to the words of DeNisi and Pritchard (2006), goal tracking software can able to review prior and post recognition by setting regular meeting to discuss service outcomes and results. A wide scope to resources leads to organizational growth and success in an optimal level with better communication procedure. Both conventional and unconventional approaches are fruitful to determine whether there is any gap in service proceedings or not. Up gradation and reinforcement of strong variability provides clear paths in term to emerge annual review cycle by Human Resource Management department. Therefore, software based digital strategy of management can able to discuss company data such as revenue, customer involvement, marketing success and so on to praise all area to plan the next phase projects with rewards and incentives.
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How would you describe your company and employees? For example, what products or services does your company offer, and what tasks do your employees complete?
Description about company and employees
Mark and Spencer Group plc is specialized to sell high quality clothes and home appliances with food items. Our company provides many facilities and incorporation of digitalization help our company to emerge in a better way. We have a lot number of retail stores throughout the world in which service provision is totally employees based. Our company offers suitable training sessions to employees to help them to emerge their professional it. Products that our company offer is good in quality and all of them are cheap to purchase. We believe in customer feedback and a good behavior with external parties help to improve financial backbone of our company. There is no a gender discrimination issue or hierarchy threats in our organisation. We just focused on maintenance of product quality in a broad manner where our employees help us in terms of sustainable beliefs and trust to make service effective. Overall analysis of company shows availability and affectivity of management plan in a way to provide good service to all.
How will you assess employees? For example, will you use performance appraisals? Will you rank employees?
Assessment of employees 150
When it comes to understanding the need of assessing employees it is important to note that organizational objectives and goals play a significant role. In context to the selected organisation, Mark and Spencer, most employees require to interact with customers and maintain and have accountability of all the products and services that are placed in the retail store.
In order to assess the performance of the employees of the organisation, specific targets have to be given to the employees depending on their job roles and responsibilities. On the basis of understanding derived from the works of Buckingham and Goodall (2015) it can be stated that if employees are able to achieve the targets rewards will be given to the employees. This approach has been used by many organizations and has always proved to be very useful. The motivation of work ensures better productivity. In order to maintain a steady flow of productivity, regular reviews and guidelines will be provided to the employees upon whom the efforts will be monitored in yearly basis and if the performance is in synergy with the standards set, then employees will be rewarded with extra points which later they can redeem for their use.
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How will you provide feedback? What type of feedback will you provide?
Feedback
In managing the performance of the employees, it is of much significance to note that feedback is very important to maintain a healthy and transparent communication system in the working environment. In the opinions of Fernie and Sparks (2018), feedback ensures two ways of communication and in fact also assures employees that their opinions have significant importance in managing their performance. In context to Mark and Spencer, the organisation provide medium of communication where employees provide their personal experiences and opinions of all the stages of performance management. This approach makes sure that the involvements are equal and leads to a healthy work culture.
How will you reward the top employees? How will you handle low-performing employees?
Handling of employees 1
Organisations always include a range of employee who necessarily does not always perform with the same kind of effort or even possess the same amount of expertise and skills. In the views of Tziner and Rabenu (2018), it is important to note that when it comes to handling, monitoring and assessing employees working in the retail service, the dynamic environment plays a significant role as it influences employees in many ways. In context to employees whose performance meets the standards of the performance index of the organisation will be rewarded with annual salary appraisal. However, in context to the employees whose performance has been significantly low would not punished but motivated for better performance in order to retain employees. It is not always the failure of the employees but also the failure of the organisation for the inefficiency of motivating all employees (Pantano et al. 2017).
Conclusion
It can be concluded from the above study that performance management plan of Marks and Spencer is a good one as it provides ease service with a good employee chain. All employees are co-operative and good team spirit enables customer satisfaction. Digitalization provides strong financial backbone to this organisation and continuous training shows affectivity in a high amount. Management authority ensures regular feedback to employees, acceptable or unacceptable in terms. Good system of rewards is an effective approach that Mark and Spencer global retailer offers to their employees. An employee with a high rate of service is considered as a top one where negative feedback is given to lazy and inefficient employees. Therefore, in interpretation it can be stated that performance management plan of this global company is really viable in terms of occasional and sustained service procurement with likable funding and modern innovation in business process.
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