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Performance Management Plan

Autor:   •  February 22, 2016  •  Coursework  •  692 Words (3 Pages)  •  994 Views

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Performance management is the communication process between an employee and their manager in reference to the employee’s performance throughout the year, in support of accomplishing the strategic direction of the company. Landslide Limousine plans to hire twenty-five employees within the first year. Due to the costs of starting a new business among other expenditures that will need to occur. The company does not plan to have bottom line earnings this year, the company is estimating an earnings of -$50,000 the first year. These circumstances makes the performance management plan critical to the success of the company.

It is important to structure the plan around working together with the employees to identify strengths and weaknesses in their performance, and create a plan to help each employee become more productive and effective workers. This performance management plan will help everyone in the company work to their full potential.

The broad process of performance management requires that you do these three things well:

The next five steps are more in-depth and will guide you through the process with your employees. Being that this is a new company you do not have to worry about changing current processes that can at times add a bit of confusion and adjustment for employees.

First you identify current company goals, this critical step will give all employees to the information they need to support your goals and strategy. Perhaps you schedule a town hall meeting with all employees to share your vision. This is a perfect time for leadership to clarify what you expect to happen within the year, identify processes and procedures for simplification and efficiency. This is also a good opportunity to set the stage for communication between all for the year.

Now that you have set the strategy, it is time to set performance expectations with leadership. The audience should begin with senior leadership. Senior leadership then sets expectations with their managers, so on and so forth down the chain of command as appropriate.

• Acknowledge the positive, things that are going well or your vision and expectation for the year

• Identify specific things that you want accomplished


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