Essay about Memo Performance Management

897 Words Sep 2nd, 2013 4 Pages
MEMORANDUM

TO: Marylee Luther

FROM: Greg Daley

DATE: September 1, 2013

SUBJECT: Performance Management Plan

CC: Traci Goldeman

Hi Marylee, having found our recommendations for the compensation and benefits strategy satisfactory to Clapton Commercial Construction’s needs I will next outline a performance management plan. “Performance management (PM) includes activities which ensure that goals are consistently being met in an effective and efficient manner.” (“Performance Mangement,” 2013, para. 1). According to "My Strategic Plan" (2012), “Performance Management is also known as a process by which organizations align their resources, systems and employees to strategic objectives and priorities”(Glossary).
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▪ Providing promotional/career development support and guidance to the employees. ▪ Performing exit interviews for understanding the cause of employee discontentment and thereafter exit from an organization.

Effectively implementing a performance management system benefits the organization, manager, and employee in several ways. Your company will benefit with employee retention and loyalty, improved productivity, which will result in cost savings. The manager benefits are saving time, reducing conflicts, ensuring efficiency and consistency in performance. The employee has clear expectations of the job and clearly defined career paths. Providing open and transparent feedback will have a positive influence on job satisfaction and loyalty. (Managementstudyguide, 2013).

After implementing the performance management system in order for it to be effective the employees have to understand their roles and importance to achieving the goals set forth. Making the employee aware of the goals and having a performance metric and job description in writing is the role of each manager to go over with the employee prior to started any job. The managers will go over the in detail the key result areas with the employee and set up a reward package if the goals are exceeded in these areas. Benchmarking is a method that can be used to measure performance metrics. In the commercial

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