High Performance Management in Achieving Rapid Long-Term Growth
The study will seek to support or discount the hypothesis: ‘high performance management in an organization leads to a long-term growth.
The objectives of this study are the following:
- To study the role of high performance management in achieving rapid long-term growth.
- To study the effectiveness of high performance management strategies.
- To discuss the impact of high performance management on the stakeholders’ attitudes towards the company and their relationships.
The research will involve the use of secondary data collection sources. Secondary sources are the most appropriate because they have a general outlook. In the interest of time, also, it may be difficult to conduct a primary research. Additionally, primary resources may not produce adequate quantifiable data. For purposes of producing quantifiable data, secondary resources will be used.
Various reports and journal articles will be critically analyzed and conclusions will be drawn from the findings.
Most organizations conduct extensive researches to improve performance management systems. However, they develop inadequate systems that do not even serve administrative purposes.
Various researchers have found that performance management is not about documentation or rating systems. Talent management requires thoughtful planning. Leaders in the same organization may also differ on the best methods of aligning business strategies with an individual’s performance objectives and rewarding high performance. Common strategies used by human resource executives, and the reasons they fail are the following. First, most performance management strategies are oriented towards improving rating systems which are characterized by many complicated process steps and distinct raters. Past attempts to improve performance management have focused on changing what is rated including objectives, individual competencies, contributions, behaviors and results. The attempts have also focused on changing the rating scale/narrative and the individuals such as supervisors, customers, colleagues or employees themselves. Additionally, some organizations have tried to change individual and team goals.
Best human resources practices include advancing opportunities for the best employees to rise to top management levels, regardless of their location or position on the organizational chart. Effective performance management systems establish objectives, provide feedback and truly improve performance. Various studies regarding high performance management can be criticized for focusing on some areas while neglecting others. However, most of them prove that high performance management leads to long-term organizational growth.