CASE ASSIGNMENT MODULE 5 Performance Management Essay

CASE ASSIGNMENT MODULE 5 Performance Management - Essay Example Performance of employees is clearly impacted by the performance management systems used within a company. These systems also help the human resources team to deal with various opportunities and also help in developing new career options and growth levels likewise. A well planned and implemented system can prove to be the success factor for the business (Armstrong and Baron). Performance management systems help in developing the competencies of the workforce as well as help in identifying the week areas of the employees. This can be used as a method to overcome the weaknesses of the employees and to develop them to become good in the particular area (Smither). Also the performance management systems help in continuous monitoring and help in better overall performance of the employees. Considering an China – US Joint venture, the main area that needs to be considered is the need for constant monitoring. Here the company needs to ensure that all employees are monitored constantly , to help gain the best results. Managing performance can be a result of many difference methods like training and development, mentoring, management of stress, competitive assessments and also ideas like performance appraisals (FSA). When there is a joint venture, it is important to ensure that the cultural differences are kept in mind while developing the performance management systems. The basis for a successful performance management system is effective communication of the goals and responsibilities both to the employees as well as to the managing individuals within the company. If the employees are clear about their role, and the part they play within a company, the contribution will be accordingly and will help in keeping up to the expected performance as well (Rollo). The second crucial stage here is the monitoring of the individuals and to ensure that the business performance is also well tracked and focused upon (Daniels and Daniels). Monitoring the business and the indivi duals within the company helps the managers and top management provide constructive feedback to the employees and also constantly requires the managers to reinstate the main goals and objectives of the company (Paladino). Here the management can lay down the expectations of the organisation effectively and provide the employees with a clear path of their duties. This is crucial especially in a multi cultural organisation as it helps in healthier working condition and better performance as a whole. Finally, it is crucial to implement a fair rewarding structure for the employees of China as well as the US organisations and here the actual performance of the employees needs to be considered while providing both monetary as well as non monetary benefits (FSA). The above mentioned points will benefit the overall implementation of the performance management systems and these will allow developing an effective system (Smither). Here in this case, since the joint venture is between two inte rnational firms, hence, there are a number of international considerations that also need to be addressed while developing and implementing the performance management systems (Daniels and Daniels). Of these, the first and foremost factor that needs consideration is the cultural differences. Here it is important to take this into account as people from different cultures work