BUSI 4320 Lecture Notes - Lecture 17: Performance Appraisal, Human Resource Management, Balanced Scorecard

• School: Memorial University
• Department: Business Administration
• Course: BUSI 4320
• Professor: Lorne Sulsky

Document Summary

Performance management involves much more than just performance appraisal. Individual employees need to meet their performance goals: collectively, helps the organization to meet its goals. Organizational try to achieve the following: transform organizational objectives into clearly understood, measurable outcomes, provide instruments for measuring, managing, and improving the success of the organization. Include measures of quality, cost, speed to provide an in-depth, predictive system: shift to an ongoing, forward-looking strategic partnership between management and employees. Balanced scorecard: very popular approach, combines the performance measures of the total organization integrates customer satisfaction, internal processes, learning, and innovation. Job-related: evaluates behaviours that constitute job success. Practical: understood by evaluators and employees. Have performance standards: benchmarks for measuring performance. Have performance measures: ratings used to evaluate performance. Direct: rater actually sees the e(cid:373)ployee"s perfor(cid:373)a(cid:374)ce. Indirect: rater has only substitutes for performance (constructs) Subjective: not verifiable by others, based o(cid:374) rater"s opi(cid:374)io(cid:374)s.