Assignment: Performance Management Plan
In today's fast-paced business environment, one of the most important assets an organization has is its workforce. An organization's sustainable competitive advantage is often based on its ability to not only attract high-quality talent but also continuously develop and improve the skills and knowledge base of the current employees. Human resource professionals continually seek ways to effectively establish and implement performance improvement plans that are effective, appropriate, and aligned to organizational goals. Such individuals ensure their employees have the most up-to-date skills, knowledge, and abilities needed to complete the organizational mission effectively. This is accomplished through employee training, talent management, and performance management plans. As a human resource professional, your ability to effectively plan and implement a performance management plan will directly contribute to your organization's success.
Scenario
You are the human resource manager of a midsize accounting firm. Mary Smith, a new accounting director within the firm, is concerned about how to coach an underperforming manager named John Miller, whom she oversees. A recent performance appraisal of John revealed that there were several areas that needed improvement. Mary is unsure of her next steps with John, and she has asked you to create a three-month performance management plan for him.
Task
1. Discuss the importance of setting performance expectations by doing the following:
a. Explain why it is beneficial for managers to set performance expectations with employees, including benefits for both managers and employees.
b. Describe the process that managers should follow when setting performance expectations with employees.
2. Develop a performance management plan for John by doing the following:
a. Describe two areas in which John can improve by comparing the criteria in the attached "Accounts Payable Manager Job Description" to the information in the attached "Performance Appraisal."
b. Describe the steps John needs to take to improve in each area identified in part 2a.
c. Describe how John's progress will be evaluated for each step identified in part 2b.
d. Describe specific outcomes that will demonstrate John's success in each area of improvement identified in part 2a.
e. Describe a consequence John would face for noncompliance in each of the steps identified for improvement in part 2b.
f. Describe the final meeting that would take place between you, John, and Mary at the conclusion of the three-month performance management plan. Include the following discussion topics:
i. How to acknowledge progress made during the performance management plan
ii. How to conclude the performance management plan, including next steps
3. Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.
4. Demonstrate professional communication in the content and presentation of your submission.
Format your assignment according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.