The Performance Management System at Luminex Organization

Decent Essays

Executive Summary

The Performance Management (PM) system refers to the organization activity to ensure that employees work is aligned with the company strategic objectives, vision and the goals are met consistently and efficiently.
Performance appraisals and awards systems are tools of PM that can improve the work performance of employees by helping them realize their full potentials in carrying out their organization mission; ensure that employees understand what is expected from them, and also to provide information for use in making work-related decisions for management.

The general objective of the study, therefore, is to evaluate the performance management and furthermore the appraisal system of Luminex Corporation aligned to the organization strategic goals. Elements such as goal setting and reward system are evaluated to provide insights into the success and efficiency of the performance management program.
Having an effective performance management system could improve morale, motivation and overall productivity by identifying employee’s strengths and addressing areas that need improvement.

Performance management overview

Performance management is an ongoing process that ensures that employees get the direction, coaching and developmental opportunities that they need to continually improve their work performance. The overall goal of performance management is to ensure that the organization and all of its subsystems are working well together and they

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