Performance Management in Small Manufacturing Companies. Changes and Future Trends

Term Paper , 2019 , 12 Pages , Grade: 1,3

Leadership and Human Resources - Miscellaneous

This text will examine how performance management has changed, what was important in the past and what are the trends for the future. The focus will be on small companies.

A performance management system is a part of human resource management. Through the system, a company can see the development of each employee’s performance. This includes all performance appraisals, training and actions that have been done and that will be done in the future.

The most important process in this change, as will be concluded, is a well-developed performance management system that both, managers and employees, appreciate. It can help to have everyone’s highest performance if it is able to value the individual. This is a challenge for the big companies as well as for the smaller ones. No one can say what is the best system, it depends on the company’s individual needs.

Table of Contents

• Introduction
• Main body
  • Advantages and disadvantages of a performance management system
    • Advantages
    • Disadvantages
  • Eliminate the lack of commitment by other managers
    • Performance and development agreement
    • Managing performance throughout the year
    • Performance review and assessment
  • Alternative applicable performance management system
• Conclusion

Objectives and Key Themes

This assignment aims to examine how performance management has changed in small companies, focusing on its importance in the past and current trends for the future. It explores the advantages and disadvantages of implementing a performance management system in small firms, highlighting the challenges of introducing and integrating it effectively.

• The impact of performance management on small company competitiveness
• The role of performance management in employee motivation and development
• The challenges of objectivity and subjectivity in performance management systems
• The importance of manager commitment and involvement in performance management
• The need for effective training and communication to facilitate the adoption of performance management systems in small companies

Chapter Summaries

• Introduction: This chapter introduces the concept of performance management systems and their significance in human resource management. It highlights the challenges of implementing these systems in smaller organizations, emphasizing the need for appropriate data and strategies.
• Main body: This section explores the advantages and disadvantages of implementing a performance management system in small companies. It examines the potential benefits in terms of employee development, performance improvement, and motivation. The chapter also addresses the challenges associated with time consumption, administration, and the inherent subjectivity in performance evaluations.
• Advantages and disadvantages of a performance management system: This section delves into the specific advantages and disadvantages of implementing a performance management system. It highlights how a well-structured system can identify top performers, provide insights for employee development, and serve as a motivator for employees. The chapter also discusses the potential downsides, including time consumption, administrative burdens, and the difficulties in maintaining objectivity in evaluations.
• Eliminate the lack of commitment by other managers: This chapter focuses on the challenges of securing manager commitment to performance management systems. It emphasizes the importance of involving all stakeholders in the implementation process, including managers, and providing them with effective training and communication. The chapter highlights the need for a well-defined strategy to address the potential resistance and ensure the system's success.

Keywords

This assignment focuses on the application of performance management systems in small manufacturing companies. Key themes include the advantages and disadvantages of such systems, the importance of employee motivation and development, and the challenges of securing manager commitment and addressing the inherent subjectivity in performance evaluations. The work also explores effective strategies for implementing performance management systems in small companies, including training initiatives and communication strategies.

• College: Griffith College Dublin
• Grade: 1,3
• Author: Vanessa Busch (Author)
• Publication Year: 2019
• Pages: 12
• Catalog Number: V493297
• ISBN (eBook): 9783668992382
• ISBN (Book): 9783668992399
• Language: English
• Tags: performance, management, small, manufacturing, companies, changes, future, trends