Performance Management Handbook for Emerging Markets (PDF E-book)

  • ID: 2903281
  • Book
  • 228 pages
  • Knowledge Resources
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There are thousands of books and gurus on the subject of performance management Yet, there are so few examples of where it is practised well Everyone knows what performance management is, have read the books, have heard the gurus, yet there are so few outstanding success stories.

This book is different for the following reasons:

1 It is based on years of personal experience in implementing hundreds of performance management systems in companies
2 Contributors to the book have actually done and experienced what they are writing about, with particular experience in emerging markets
3 It is underpinned by empirical research
4 It is practical and, for once, tells you how to do it, with no missing steps or information There are tool kits, forms and check lists that can be used instantly
5 It is written in plain English with no bamboozling jargon, with many practical examples and templates that you can amend to suit your needs
It also includes practical examples of different types of performance appraisal methodologies, namely the;

- Outputs Approach
- Traditional Approach
- Balanced Scorecard
- Multirater/360o

Contents include:

- The philosophy of performance
- Measurement and metrics
- The measurement of human capital
- Developing an output-driven performance plan
- The traditional approach to performance appraisal
- Performance appraisal rating scales
- The balanced scorecard approach
- Multisource/360-degree feedback
- Performance-related pay
- The link between performance management and long-term incentives (LTIs)
- Does performance management work?
- Embracing the law – a South African case study
- Director and Board Evaluations
- Crucial/honest conversations regarding performance
- Critical success factors and epilogue
Dr Mark Bussin is the Chairperson of 21st Century Pay Solutions Group, a specialist
remuneration consultancy Mark is a guest lecturer at several universities around the country
and supervises Masters’ and Doctoral theses in the Reward area He is the current President of
SARA (South African Reward Association) and a Commissioner for the remuneration of Public
Office Bearers in the Presidency
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Sourcing of figures and diagramsvi
About the authorvii
List of contributorsviii
Prologue and preambleix
1 Introduction and context
11 Introduction
12 Emerging markets and the global, competitive marketplace
13 Performance management in emerging markets
14 The three levels of performance management
15 Conclusion
2 The philosophy of performance
21 Introduction
22 What is performance management?
23 The performance management process
24 Conclusion
3 Measurement and metrics
31 Introduction
32 Why measure?
33 Traditional use of measures
34 Barriers to measurement
35 What to measure
36 How to use measures
37 Quantitative and qualitative issues in measuring performance
38 Types of measures
39 Measuring team performance
310 How to measure team performance
311 Conclusion
4 The measurement of human capital
41 Introduction
42 Job evaluation, competence and performance measurement
43 Managing performance
44 Benchmarking performance
45 Strategic human capital indices
46 Business, cost and profit drivers
47 Nine steps to metrics excellence
48 Conclusion
5 Developing an output-driven performance plan
51 Introduction
52 Performance management readiness
53 Goal setting – what does the customer want?
54 Understanding key performance areas (KPAs)
55 Adding key performance indicators (KPIs) to the key performance
areas (KPAs)
56 Producing output-oriented goals – the six questions
57 Bringing your goals to life
58 Practical example
59 Conclusion
6 The traditional approach to performance appraisal
61 Introduction
62 Philosophy of performance appraisal
63 Preparation for the performance appraisal interview
64 The performance appraisal interview
65 Aspects or dimensions of work to be rated and commented upon
66 The performance rating scale and reward implication
67 Problems with the traditional approach to performance appraisal
68 Employee performance appraisal check list
69 Conclusion
7 Performance appraisal rating scales
71 Introduction
72 Reviewing performance
73 Commonly used rating scales
74 Target performance distribution and forced ranking
75 Conclusion
8 The balanced scorecard approach
81 Introduction
82 What is the balanced scorecard?
83 The case for the balanced scorecard as a performance management
system
84 Implementing the balanced scorecard as a performance management
system
85 The 10 essentials for developing sound balanced scorecards
86 Conclusion
9 Multisource/360-degree feedback
91 Introduction
92 What is 360-degree feedback?
93 What is 360-degree feedback used for?
94 The benefits and challenges of 360-degree feedback
95 Traditional versus 360-degree performance management systems
96 The 360-degree performance evaluation process flow
97 360-degree feedback – implementation guidelines
98 Example of a 360-degree feedback survey
99 The role of technology in 360-degree feedback
910 Conclusion
10 Performance-related pay
101 Introduction
102 Individual and team performance-related pay (PRP)
103 The mechanics of PRP
104 Critical success factors for PRP
105 Variable pay and incentive schemes
106 Conclusion
11 The link between performance management and long-term incentives (LTIs)
111 Introduction
112 Quanta of LTIs awarded to executives
113 Vesting periods
114 Considerations in allocating LTIs – link to performance
115 Specific performance conditions applicable to LTIs
116 Conclusion
12 Does performance management work?
121 Introduction
122 The performance management process
123 Setting objectives
124 The dynamics of objective-setting
125 Performance observation
126 Performance assessment
127 Consequence management
128 Readiness assessment for performance management
129 Conclusion
13 Embracing the law – a South African case study
131 Introduction
132 Misconduct and incapacity
133 Probation and procedural fairness
134 Substantive fairness
135 Senior managerial employees
136 Drawing the line between misconduct and incapacity
137 The leadership diagnostic: a useful tool
138 Conclusion
14 Director and board evaluations
141 Introduction
142 Corporate governance defined
143 Legislation is increasing
144 Advantages of board evaluations
145 The role of the board
146 Framework for a board evaluation
147 Specimen evaluation forms
148 Conclusion
15 Crucial/honest conversations regarding performance
151 Introduction
152 Holding honest conversations
153 Towards a culture of healthy conflict
154 Four perspectives to consider in honest conversations
155 The process of initiating and holding honest conversations
156 Conclusion
16 Critical success factors and epilogue
References
Index
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