BSBMGT502 - MANAGE PEOPLE PERFORMANCE - Formative assessment 2.docx

BSBMGT502 - MANAGE PEOPLE PERFORMANCE - Formative assessment 2.docx

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BSBMGT502 - MANAGE PEOPLE PERFORMANCE Formative assessments 2 Activity 5: Develop and agree performance indicators with relevant staff prior to commencement of work 1. What are performance indicators and why is it necessary to consult with and get agreement from those who will be affected by the performance indicators? 300–350 words - Performance indicators are the measurable characteristics of performance that should capture factors that lead to improved customer, operational, and financial performance. They are the predetermined work standards that are expected of individuals and groups. They include measures of work outputs, productivity, relationship building, internal and external customer service and resource management or use. Organizations wanting to measure work should develop a comprehensive set of measures or indicators to: [1] Establish and clarify performance standards so that all personnel know what is expected. [2] Enable measurement and comparison of performance against objectives. [3] Enable measurement and comparison of performance against benchmarks. [4] Identify performance gaps—areas for improvement. [5] Identify successful operations areas [6] Capture the factors that lead to improved customer, operational, and financial performance through understanding of current successes, problems and projections - Performance standards might take the form of identified and agreed Key Performance Indicators. For performance standards and measures to be effective there should be consultation and agreement between management and the people in the organization who are expected to achieve the standards. The likelihood of standards being reached and even exceeded is much higher when there is consultation and agreement with relevant personnel than if the standards are simply imposed upon them. Therefore, employees should be involved in the development of the performance standards to which they must adhere and these measures need to be identified and agreed upon with relevant staff prior to commencement of work so that work performance can be properly managed. Some measures need to be identified and agreed upon with employee are including: [1] Identify and understand organizational goals. [2] Identify specific work targets and objectives [3] Identify and agree on expected outputs and outcomes of work.
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[4] Determine what aspects of your performance need to be measured, monitored and evaluated. [5] Identify and agree on measurement criteria—KPIs. [6] Collect data and information that will aid in measuring and assessing your performance. [7] Use feedback and performance assessment information to continuously improve performance. 2. What should a good performance management system aim for? 100–150 words - A good performance management system works towards the improvement of the overall organizational performance by managing the performances of teams and individuals for ensuring the achievement of the overall organizational ambitions and goals. In other words, it should aim to meet both the organizations and employee’s needs.
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