Managerial decision making process Essay Example | Topics and Well Written Essays - 1750 words

Managerial decision making process - Essay Example Performance evaluation is an important task in any organization because by evaluating the performance the productivity level of an individual is measured.Promotion, salary packages, increment in compensation and growth of the individual are also based on the performance evaluation therefore organization must ensure that they have proper performance evaluation method that considers important characteristics and traits of the individual so that right candidate is promoted and get his reward of hard work. Also by promoting the right individual, his motivation level would also increase thus it would further increase the productivity. There are different factors that an organization use to evaluate the performance of an individual however the following criterion are the most common considered by organization to evaluate the performance of an individual Knowledge of the individual Expertise in the field Productivity level Performance Tasks completed by the individual Completion of work wit hin the deadline Skills to work as a team player These are the most common factors that are considered in evaluating the performance of an individual, but the criteria may vary from one organization to another. Main concerns with the given company’s current evaluation form The main problems with the existing company’s evaluation form and method are as follows: In evaluating performance, the behavior of an individual with his co-workers and supervisors is highly considered. The extent to which an individual keeps his desk or office clean is considered an important aspect. Task completed on time is not considered as an important characteristic to evaluate the performance of the individual. The knowledge and abilities of an individual are ignored. Most Commonly-Used Sets Of Criteria Which Should Be Evaluated In A Performance Evaluation There are several commonly used sets of criteria used in order to evaluate the performance of an individual and these criteria are as foll ows: Performance of the individual Goals and targets achieved by the individual Efforts put in by the individual Productivity of the individual Ambitions Leadership qualities Motivation level Technical skills and knowledge Team work and team player Advantage of using same performance evaluation method One of the main advantages of using one performance evaluation method for every employee is that it evaluates the performance of different employees in the organization using same criteria therefore it is easy to identify the performance level of different individuals and thus it becomes easier for the management to analyze and reward them and promote them. RELATIVE VALUE OF THE COMMONLY-USED SETS OF EVALUATION CRITERIA already IDENTIFIED There are drastic differences in the criteria used by the company and the criteria that are most commonly used in organizations around the world. The existing system of the organization focuses more on the behavior of the performance, rather than the contribution of the individual towards organization goals and objectives. Organizations around the world focus on the productivity and performance of the individual, whereas this company focuses on relationship with co-workers and managers. Result indexes, such as turnover, quantity and quality of work produced by the employee, are also used for appraisal purposes around the world, which are ignored by the company. Advantages Of Including Supervisors, Peers, And Subordinates In The Evaluation Process Most of the people in the organization review the employee’s performance than just their immediate supervisor. The 360-degree feedback evaluation allows the employer to understand what the performance of the employees is and how the supervisors, peers, subordinates and the external customers viewed the employee’s performance. This evaluation technique provides feedback from all levels of the