Task and Purpose
Human Resource Management (HRM) is essentially getting things done through people. Almost all firms today have an established specialist division to provide an expert service, which is dedicated to ensuring that the human resource function is performed efficiently.
The market place for talented, skilled people is competitive and expensive. Taking on new staff can be disruptive to the firm and to existing employees and not to forget, costly to the firms. It also takes time for new staff members to develop corporate cultural awareness, gain experience and firm specific knowledge regarding process, product etc. so ultimately retention management is strategically important in the sense that a firm retains the current human capital it has build up through staffing and performance management. 1
Essentially the task and purpose of this assignment will cover performance review as a key function within HRM as a direct result of trying to improve the employee job performance and the firms overall productivity. Topics that will be covered include:
1. A current performance review model in a an organisation that is familiar to me;
2. A suggested best model to achieve performance reviews that will increase employee satisfaction and motivation;
3. Brief analysis and conclusion of Performance Reviews in general.
Obviously the HRM functionality will vary between firms which are different in nature, size, goals, functions, complexity, structure and the product or service it provides. But ultimately the purpose of the HR function is to: “ensure that at all times the business is correctly staffed by the right number of people with the skills relevant to the business needs”, that is, nei ...