MGT 462 Chapter Notes - Chapter 11: Balanced Scorecard, Performance Appraisal, Job Performance
Document Summary
Performance metrics - quantitative measures of job performance. Pay for performance programs evolve along multiple dimensions. Criterion deficient - criterion is deficient if it fails to include all of the dimensions relevant to job performance. Strategies for better understanding and measuring job performance. Efforts to improve the performance rating process takes several forms: Researchers and compensation people devote considerable energy to defining job performance. Much of performance can be accounted for by one general performance factor. Balanced scorecard approach - corporate wide, overall performance measure typically incorporating financial results, process improvements, customer service, and innovation. Way to look at what contributes value in an organization. Acknowledges that bottom line success doesn"t just happen. Depends on satisfied customers and satisfied employees in the most operationally efficient way possible. Definition of performance and its components is expanding. Improving the quality of performance ratings centers on identifying the best appraisal format.
