Performance Management Process Paper

Performance management is a continuous process and includes six connected elements. The first element is the prerequisites. BANKS mission and goals must be communicated prior to using the performance management system. Managers and employees are a part of this process because everyone needs to have an awareness of BANKS mission and goals as well as the mission and goals of the individual units. A job analysis is also part of the prerequisites and is fundamental because it provides the knowledge, skills, and abilities that are required for each job. Employees also aid the managers in developing the job analysis by completing questionnaires and providing job information in interviews (Aguinis, 2013). Performance planning is the second part of the performance management plan and consists of the results and behavior section of the plan as well as developing the plan. The plan will measure the performance results and the behavior results of the employees. The KSAs and competencies created from the job analysis will be used when creating the performance and behavior results. These are the specific objectives the BANKS employees will be held accountable for, and their input was included when creating the job analysis. The managers and employees will agree on the development plan. This plan consists

This phase is basically the same as the performance planning stage except that it uses information and awareness that is obtained from the other phases. If goals in the planning stage were set too high or too low, these would be adjusted during the renewal and recontracting stage. Both employees and managers are active participants in this stage. The cycle does not end after this phase, but starts anew with phase one. Due to a changing market, BANKS will need to review, adjust, and regularly monitor its strategic goals and the KSAs of the job positions, and this is done in the prerequisite stage (Aguinis,