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Performance Management  Organizational Human Resource Development Division Hong Kong Productivity Council Seminar Content Why is PM Important to Business Performance? What is PM? The PM Cycle Effective PM System Identification of Individual Performance Measures What is Balanced Scorecard? Barriers in Strategic Management of Organizational Performance How does a Balanced Scorecard Translate Company Strategy into Action? Framework of a Balanced Scorecard Performance Measurement System Action Required for Implementation of an Effective PM Why is Performance Management (工作表現管理制度) Important to Business Performance? Why is Performance Management (工作表現管理制度) Important to Business Performance? Benefits to Individuals Better understanding on performance standards Better development opportunities Motivated as it is a fairer system to measure employees’ performance Improved relationship with supervisors Improved individual performance Why is Performance Management (工作表現管理制度) Important to Business Performance? Benefits to Organisation Effective monitoring system Better understanding on performance standards Organisation’s expectations can be clearly communicated Link individuals’ work output to organisational goals Better morale Shape organisation’s culture Why is Performance Management (工作表現管理制度) Important to Business Performance? What is Performance Management (工作表現管理制度) ? “A process for establishing a shared understanding about what is to be achieved, and how it is to be achieved; an approach to managing people which increases the chance of achieving job-related success.” Different Approaches Performance Management - Current Trends(當前趨勢) Performance management as a core process New approaches: self-appraisal 自我評核 peer appraisal 同級同事評核 upward appraisal 下屬對上司的評核 360 degree appraisal 360 度評核 Greater employee involvement / participation From measuring outputs measuring outputs + inputs Greater line-management ownership Formal, once-a-year feedback