Performance Management System

1694 WordsOct 28, 20127 Pages
Contents 1. Performance management on the benefits of a company or organization. 2. Examples and behavior of Performance management. 3. Performance Management Systems 4. Human Capital and Strategic Planning 5. Recommendations Performance management on the benefits of a company or organization. Successful organizations know that to win in today’s competitive marketplace they must attract, develop, and retain a talented and productive staff. Winning organizations get their competitive edge from a performance management system that communicates the organization’s vision and values, aligns individual and team performance goals with the organization’s strategic objectives, outlines career development paths for each…show more content…
Performance Management Systems Performance management is a discipline that aims at promoting organizational performance by managing the human capital of an organization. The know-how, skills and capabilities that inherent and used by workers in an organization are referred to as human capital. Human capital is an integral asset of any business, company or organization and many of them have concentrated their investments of human capital. Why are organizations interested in the development management and promotion of human capital? Is human capital becoming more and more relevant to organizations? Studies have indicated that there is a huge overt and covert influence of human capital on the performance of any organization and business and there has been intensive research on human capital as a factor in business and organizational performance. This is why organizations are increasingly empowering their human resource departments which deal with the human capital. It has been proved by various studies that any practice that promotes or enhances human capital influences organizational performance directly by molding organizational behavior and attitudes. Human capital also creates structural and operational focal points that improve efficiency. According to most business executives, people are the most integral assets in any organization because they are the
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