MANAGING HUMAN RESOURCE

Managing Human Resource

[Name of College]

Managing Human Resource

Introduction

With organizations attaching greater emphasis to knowledge workers, it is necessary to understand how performance management practices facilitate achievement of managed performance (e.g. service delivery, service quality/products and cost reduction). According to Armstrong & Baron (2005), performance management is a means of getting better results from the whole organization or teams or individuals within it, by understanding and managing performance within an agreed framework of planned goals, standards and competence requirements. In this paper the performance appraisal, its importance, various factors involved in it will be discussed and the method of evaluating employees' performance would be suggested for Colbran Medical Institute.

Companies are on track to become borderless communities and are increasingly virtual entities. Moreover, all studies show that today, people are considered the most important asset of organizations. In fact, the term "employee" is disappearing bit by bit: the business and not managing employees, but people. The company is transforming itself into a network of interconnected and increasingly less like a closed and stable group of employees.

Research shows that organizations that know how to manage intellectual capital but its net income 30% higher compared to other companies that do not manage these important assets. Organizations must not only manage administrative processes, but also the productivity of people contributing to overall company performance. Companies now have to manage skills, time and remuneration for a wide range of people both inside and outside the organization. (Lazear, 1998) Today, employees are perceived as a source of value, but until recently, were considered primarily a cost, an expense that had to be reduced. The nature of their work that people still evolving. In the industrial age, people are asking them to leave intelligence at home, but today they are asked to use it for the benefit of the company. Processes involving the other workers increasingly require the use of their intellectual capacity, the workers have to make decisions and find resources on the fly.

However, these processes are characterized by unstructured, spontaneous and with little planning. The proportion of time spent by employees in these processes is increasing. Each day, while people perform business processes, are generated in real time large amounts of improvisation, innovation, improvements and information. Thus many organizations, both public and private, are adopting new systems and management control techniques with the ultimate aim of improving their performance.

The rules of business are constantly changing, creating new challenges for all involved in the global economy. The fact of staying competitive means taking the change, establish new relationships, maximize the talent and people, and transform companies in interactive businesses driven by both the client and the employee. Although from a man working for another work has always been evaluated. However, large companies have seen in the last decade that such an assessment is insufficient and often use a formal system of performance appraisal to assess the efficiency of workers. (London, 2003)

Because performance appraisal is not an end in itself but a tool to improve human resources, ...