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An employee is the most important asset of any company. Every organization in the world tries to motivate their employees and get the maximum output from them. Ultimately, it is the goal of every company to increase the efficiency of its employees, which will result in increased productivity and a hike in profitability of the firm. This requires great effort and insight into the practices of Human Resources, which can be used to determine the right tools for the management and the motivation of the employees.
The process by which the performance of an employee or human resources in an organization is identified, measured, managed, and developed is called Performance Management. One the other hand, performance appraisal is the ongoing process of evaluating and judging the performance of an employee.
As the markets are becoming more and more dynamic, the competition among various organizations is also increasing. Every employer wants to hire and retain the best possible human resource so that it can get the best performers in its organization. Having best and competitive employees in an organization automatically guarantees more productivity which ultimately results in the higher profits for the company. In order to asses how good or bad the employees of an organization are performing, the methods of performance management are employed.
Over a period of time, various techniques of performing and assessing the job have been adopted. Some of these techniques proved to be successful while others failed in explaining the performance parameters. The most important ones among these are Traditional approaches to measure the performance of the employee and the Real-time Performance Management System (Noe, Hollenbeck, Gerhart, & Wright, 2017). The details mentioned below describe the way that how the performances of the employees were measured and evaluated in the past and how the modern techniques have transformed these practices.
Traditional Annual Evaluation Method of Performance Appraisals
The Traditional Annual Evaluation Method of Performance Appraisals, as the name suggests, is the method that has been adopted by the managers and the organizations from centuries, to evaluate and asses the performance of the employees working in an organization. This performance management approach allows the managers to have an understanding of the overall employee performance, during a certain period of time, by directly looking at the overall record of the employee. Mostly this performance appraisal is carried on an annual or semiannual basis.
Although this approach has been a very successful one in the past, it is left with very admirers in the current times. Only a few organizations adopt this practice to evaluate the performance of their employees, while the others are in a process of re-inventing or upgrading their appraisal process. In fact, many employees were not happy with the practices being carried on in the conventional or traditional performance management systems, and they regarded it as an unfair and biased system (Govekar, & Govekar, 2012). In addition to this, it was a time-consuming and tiring method; it took a lot of time and energy to arrange meetings with each and every employee of the company and discuss each and every aspect of their performance with them. Sometimes these sessions would go on for days. It would waste the time of the employee as well as the HR manager and or the HR executive dealing with the employee regarding his or her performance. This was the ultimate wastage of time of the organization which could have been invested anywhere else productively.
Real-Time Feedback Coaching Format
Real-Time Performance Feedback is a modern and efficient way of performance management in which the performance of an employee is measured in the real-time or immediately (Buckingham, & Goodall, 2015). These performance measurement methods are quick, efficient and up-to-date.; they have the capability to cater to the modern challenges and demands of the current fast-paced markets (Bell, 2011).
Real-time Feedback of the performance is a more mature and practical approach towards the evaluation of performance. It is much more efficient and provides accurate results. The approach addresses the to-the-point issues and does not waste time in unnecessary discussion. Moreover, it is not limited to any certain period of time; it can involve the results of performance by the employee pertaining to any time frame.
Fredrick W. Taylor’s Response to the Real-Time Performance Feedback
Fredrick Winslow Taylor is hugely recognized as the founder of modern management. He introduced the scientific approach of management to the business world and helped in developing insights about the use of time and motion to eliminate negativity and increase efficiency and productivity. His contributions towards management sciences were published in his book “The Principles of Scientific Management” in 1911 (Blake, & Moseley, 2011).
Regarding the current approach towards human resources management, especially in the area of performance management, Taylor would have thoroughly enjoyed it. If Fredrick W. Taylor would have been alive in today’s ear, he would have supported the current approach being used by the organizations to assess and evaluate the performance of their employees, as he was a supporter of innovation and the usage of modern techniques in the field of management sciences.
In a nutshell. It can be concluded that although the Traditional Annual Evaluation Method of Performance Appraisals ruled for a great time in the business world, they are now considered somewhat obsolete. The world is moving towards modern approaches like Real-Time Feedback Coaching Format, which is a much better and efficient approach and tends to provide accurate results regarding the employee’s performance.
Bell, R. L. (2011). Teaching present-day employees the value of scientific management. Supervision, 72(6), 5-8.
Blake, A. M., & Moseley, J. L. (2011). Frederick Winslow Taylor: One hundred years of managerial insight. International Journal of Management, 28(4), 346.
Buckingham, M., & Goodall, A. (2015). Reinventing performance management. Harvard Business Review, 93(4), 40-50.
Govekar, P. L., & Govekar, M. A. (2012). The parable of the pig iron: Using Taylor’s story to teach the principles of scientific management. Journal of Higher Education Theory and Practice, 12(2), 73-83.
Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. (2017). Human resource management: Gaining a competitive advantage. New York, NY: McGraw-Hill Education.
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