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In: Business and Management

Submitted By thatdoodjay
Words 898
Pages 4
Jay Peterson
CTU Online
Professor Dave
Phase 3 IP

Performance Management System Overview The accounting firm is responsible for the structure and completion of all components of a performance management system. To obtain organizational goals, performance management is a structured process of ensuring that a company’s employee’s personal work load and performance is being put forth to achieve productivity and benefit the company to uphold toward meeting the organizational goals and challenges. Strategic measures can be set to achieve the goals of the organization and to set alignment with what the organization is striving to achieve such as setting self achievable goals, the corporate goals, as well as department goals. (Roberts, A.)
There is also an administrative standpoint, which relates performance appraisals from the outcome of the performance overview with supporting information which eventually determines the salary increases to be set forth, or benefits and recognition programs such as incentives or cash pay outs for a job well done. After the performance overview is completed there is a final step, which includes areas of improvement to benefit the company through future training and development in which areas the employee lacks.
Within my current company, we refer to our performance management system as a Performance Management Process (PMP). Each quarter, our management sits down with all his/ her employees to engage with them on their personal performance being put forth. The first quarter is basically an overview of what organizational goals and personal goals management would like to see their employees incorporate within their work for future success. Goal setting is very important and crucial for an employee to engage to provide quality work and to be motivated to strive to do better for the organization. Second…...

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