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Managing The Global Workforce Project

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MBA 645 Managing the Global Workforce Project 1
Performance Management Model There are many different ways we could look and implement a performance management system. We will first describe a few of the common plans used and ones we believe we can draw from to develop and implement into our own performance management model. Implementing this plan now will lay the foundation for ongoing development our firm’s human capital and assimilation of new employees into the system as we continue to grow.
Part 1: The Research Summary The three main types of plans we researched are Booz Allen, 360 degree feedback and management by objective. These all have a competency based component that we will also touch on and ranking within the
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Those factors are how the evaluation is done and how the feedback is given. A model used by some large organizations in both government and private sectors is the Booz Allen Performance Management Model. The Booz Allen model takes key human resource processes and a number of components that focus on designing an integrated system. (Booz Allen Hamilton 2015) The four key Human Resource processes are planning, performing, evaluating and rewarding. These coupled and integrated in to the company’s overall strategy creates and alignment between company goals and individual performance. A well designed system promotes clarity of the expectations, increases trust among supervisors and employees, while increasing fairness and transparency. (Booz Allen Hamilton 2015) Implementation of the “SMART” principles is a big part of the design and implementation. Goals and objectives need to be Specific, Measurable, Attainable, Relevant and Timed. These type of goals and objectives gives employees a clear picture of what is expected and drives increased performance. Management by objectives is a performance management model that can be used in conjunction with other models. MBO as it called, is designed to include employees in the goal setting process and define “success” by measuring accomplishments against a clearly established set of objectives. (Lloyd 2012) This makes evaluation much easier
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