The Performance Management System Of Colbran Medical Institute Essay - 1

The Performance Management System Of Colbran Medical Institute - Essay Example They tend to contribute towards their organization staunchly and scrupulously only when they are motivated, and their contributions are valued and appreciated by their organization. Valuing one's contribution and supporting their initiatives is possible only when an organization realizes its employees’ contribution in a way it should be realized. This is possible with the proper implementation of an objective performance management system. Using objective measures of performance evaluation makes employees clear that organization follows procedural justice and rewards them according to their contribution. The end result of objective performance evaluation is motivation, commitment, encouragement, job satisfaction, and greater employee retention that contribute towards organization’s profitability in the long run. Moreover, with objective performance appraisal followed by good reward administration makes employees loyal and more committed towards their respective organiza tions. Thus, we can say that objective performance evaluation followed by performance appraisal accompanied by proper reward administration makes employees motivated and committed towards the organization. This paper focuses on the performance management system that will be suggested for Colbran medical institute in pursuit of removing its flaws in its current performance appraisal. Why organizations need performance management system is an important question. Most of the researchers argued that for unbiased performance evaluation, implementation of performance appraisal system is compulsory because it works by taking into account key performance indicators (KPI) and key performance results (KPR). When organizations communicate their employees the performance standards and key performance indicators clearly, that helps businesses in achieving competitive advantage because employees with a clear goal of what is expected of them.