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The Value Of Assessing Performance Business Essay

An appraisal is an assessment of employee's performance, potential, and developmental needs. Additionally it is an chance to review the employee's quality of work, to reflect on what has been achieved through the period and agree after the objectives going forward. Appraisals can benefit both employers and employees by increasing their job performance, so that it is much easier to identify what they are successful, what they need to improve upon, and the most suitable action that should be taken for the future.

I improve Dubai Multi Commodities Centre (DMCC); being a governmental authority DMCC is obligated to conduct gross annual and half yearly appraisal process. The mid-year appraisal helps to review the first six month's performance also to highlight on areas that require improvement, thereby giving a worker adequate time for you to ensure that her/his individual objectives are achieved through the year-end performance review. This formal appraisal process is usually written and includes filling in a performance review form signed by both line-manager and the employee. An important component of DMCC's performance appraisal process is the setting of SMART goals. SMART Goals are extensively known and renowned tools in performance management. Every employee is asked to document some goals that are Specific, Measurable, Actionable, Realistic, and Time-bound. After the line manager's mutual approval the employee then works towards accomplishing these goals in the entire year ahead.

Besides both formal bi-annual appraisal sessions, we also conduct informal appraisal and feedback sessions every quarter. These sessions can include feedback that's not always positive. It is always easier to encourage the employees to see their appraisal as an 'opportunity', not 'a threat' with their professional wellbeing. Moreover the line-manager must ensure that the meeting is a two-way conversation, not really a lecture. A performance appraisal must be honest, even though employees might not always want to listen to what their line-manager has to say.

The success of the appraisal process depends upon the line-manager's readiness to complete a productive and objective appraisal and on the employee's readiness to react to constructive suggestions and also to use her/his manager to attain future goals.

Motivating the team to boost performance in the workplace

There are various factors that influence how employees behave at workplace and everything depends on the nature of work that she/he does. For instance, it is fair to assume that an employee working within customer services is going to get influenced by how the customers behave. Also, the surroundings at the task place is very influential of how other colleagues behave with one another. If colleagues do not get along with one another at work then they might not perform to the best of their ability and could struggle to meet the objectives that the employer has set.

The relationship between employees and the employer is also another main factor that impacts the behaviour of a worker. It's possible that the employees aren't pleased with certain factors or motions at the work place and therefore they do not feel interested in their work. Thus, the line manager must ensure that her/his team members are happy and re-think what improvements can be produced to ensure that all employees are influenced to positively. There is a universal rule that happy employees contribute significantly in having an effective business.

While it's important to discipline a worker for wrong doing, it is equally important to praise someone for achieving a challenging task. Motivation can be of many different forms. No standard form of motivation works for every person. Each form influences unique behaviour. Since each person's personality differs, so does the type of motivation.

I are a Senior Financial Accountant at Dubai Multi Commodities Centre (DMCC). Having completed four years in my current role and six years overall I have seen myself grow and transform into different leadership styles. Currently supervising a team of three junior accountants, I am responsible of ensuring accurate and timely reporting of financial performance monthly. In my own job I too have challenges to face as it pertains to delivering management reports promptly and ensuring that the reports have no material errors or omissions. There have been instances when the system goes down and reports need to be compiled manually, which can take longer time and require late sittings. Motivating juniors to be loyal and deliver despite odds is difficult if not done regularly. Incentive is a common form of motivation which includes both monetary and nonmonetary rewards. I try and ensure my team is actually content and the work load is shared evenly among the team. The weekly team meetings and quarterly appraisals sessions are useful to gage a much better understanding of the team and brainstorm collectively to find solutions to issues. Each one of us has different core competencies and using the strengths of every individual productively is termed effective management.

Renowned psychologist Abraham Maslow established the motivation theory which categorizes the five human needs which range from basic survival like food and shelter to the need for self-actualization. Maslow believed that once one need is satisfied, a person pursues to attain the next need. When put on workplace, the theory means that the line-manager must understand the prevailing needs degree of each employee to see what will motivate her/him. To illustrate, a fresh hire that is unemployed for a protracted time will motivated mostly by the need for basic survival. Alternatively, an employee focused on career advancement would be more inclined to achieve self-actualization; thus it would be smart to allocate her/him to higher-level tasks.

Carrot and Stick is the one of the most traditional motivational theory recognized by philosopher Jeremy Bentham. It splits motivation into two basic elements: incentives and fear. Some employees are motivated by the aspiration to earn higher compensation, a desire to achieve status and power by "moving up the ladder, " or the necessity for commendation. But some employees act better out of fear: worries of losing a job, being reprimanded by their line-manager or the inability to adequately perform a task. In my team, I often use the carrot and stick technique with regards to the situation. The necessity to achieve an increased rating during the performance appraisal review session encourages employees to execute better and worries of being graded low encourages employees to pull up their socks and enhance their productivity. Because the performance rating is directly associated with compensation increments, every employee is motivated by the higher monetary reward carrot.

The value of feedback in the workplace

Regular feedback is vital to boost efficiency and harmony within the team. Generally in most mediocre companies accumulative feedback is given once through the total annual performance appraisal session. Conversely in a productive workplace, effective feedback is given at each opportunity. The line manager must ensure that feedback get both at an individual level as well as the team level. Feedback should be relevant, sincere, and more importantly positive feedback should outweigh negative feedback. Furthermore the line manager must be sure that she/he create a positive basis making any criticism more acceptable and understandable.

Giving frequent positive feedback encourages discussion and helps the employee to simply accept correction or criticisms feedback with a healthy attitude. The line manager also needs to give feedback that is specific and individualized. Giving lump sum feedback or team feedback is generalized and will not contribute the maximum amount of to motivate productivity or create positive change. Once the feedback pertains to specific goal, employee, or objective it works more effectively and has more power to impact behaviour.

Pages = 3

Words = 1, 260

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