Managing Performance

In: Business and Management

Submitted By taylos30
Words 1064
Pages 5
Managing Performance Bus 3040 with Professor Lori White By: Sonya Taylor

Why Manage Performance? “There are many things you can do to avoid failing as a manager. You can set clear expectations. You can highlight the underlying purpose of people’s work. You can correct people when they do something wrong. And you can praise people when they do something right. If you do all these things often and well, you will not fail as a manager” (Buckingham & Clifton, pg 171). Managing an employee’s performance encompasses all of the things mentioned above. Wikipedia defines performance management as “activities which ensure that goals are consistently being met in an effective and efficient manner” (Wikipedia, 2012). Actual performance management can be done in many different ways and can be formal or informal. At Nationwide Insurance the formal process for managing performance is the MBO process, or Management By Objectives. At Nationwide, every employee receives their MBOs during the first quarter of the year. All MBOs follow a top down format which basically means that even the executives have MBOs and all subsequent employees have their MBOs built to follow. The Product director’s MBOs will be different from the Sales Director’s MBOs, but the product associates’ MBOs will almost mirror those of their supervisor and he of his, etc. There is a formal process in place for receiving feedback on MBOs. Part of the process is for each associate to log into the performance review system found in the HR Web, the company’s internet based web system for all things Human Resources including pay, benefits, and performance evaluations. Once in this system the employee will record their contributions in their own words to each of their MBOs. By this time the employer should have already gone into the system and updated the database with the current results…...

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