Performance management still HR staple
Senior HR practitioners and business leaders recently shared unique approaches to contemporary business issues at the Executive Development Seminar hosted by Hong Kong Baptist University.
During the seminar, Francis Chan, Country Manager—Hong Kong, Lumesse gave a presentation on effective performance management processes. Chan shared his organisation’s latest findings on how HR practitioners, in adopting the right performance management processes, have been able to significantly enhance employee performance. The research was conducted in 44 countries and encompassed over 500 businesses and HR executives. Chan advised that when conducting performance appraisals HR professionals should ensure that their organisation: develops ‘goals based on Finance metrics’, adopts a ‘pay for performance’ strategy and facilitates ‘goal alignment’. Chan explained that by taking such measures, these strategies would offer both the organisation and its employees a fair and transparent platform—facilitating maximum business progress.
Chan concluded, “Performance Management is a core HR module, yet it is not an easy task to carry out good performance management practices. HR specialists are advised to work closely with their teams and create trends in talent management which reflect how the new business landscape is taking shape.”
Paul Arkwright
Publisher
