Performance management article Essay Example | Topics and Well Written Essays - 500 words

Performance management article - Essay Example Measurement of performance is through the collection, analyzing and dissemination of data to assess the production of an individual, group or organization as a whole. For a company’s success in the field, goals are structured as a means for the company to determine its success. This success rate can be measured through financial capacity, the rate of growth of the company or in terms of the quality of the services rendered. By measuring and creating ways to measure the development of the company, it is possible to measure the success of the company. True to many, the business clichà © ‘what gets measured gets done’ is complemented by the study. For a business that is starting up, profit generation is their main objective. Therefore, the managers in charge structure policies that will aid the workforce to attain the necessary goals setup. Use of bonuses is a commonly used method to incentivize the workforce to working better and efficiently. However, change is dynamic and therefore the company’s goals are subject to alteration. As such, the company must know the correct performance measurements systems that help the organization in achieving its necessary goals (Neely, 1999). In the recent past, the use of financial systems to measure performance was common. This enables the firm to know whether they were making the most on their profits, as this is the main objective of any business. From the data collected, the firm can only get the results in figures but no more deductions can be made. However, as the years have passed companies have sought for more complex systems show An example of its implementation is the choice for a firm to focus more on its customer relation services rather than on sales of the company. This will assist the firm to position itself in the market as an organization that cares about the quality of customer care services. The revised measurement will enable the organization to alter