Performance Management

The video tutorial explains the performance management process, which involves identifying, measuring, and developing workforce performance measures to achieve specific metrics. It introduces the performance management cycle, which includes planning, acting, monitoring, and reviewing. The tutorial discusses the application of performance management at different organizational levels and highlights the importance of key performance indicators. Various types of performance metrics are explored, including objective, subjective, financial, and non-financial metrics. The characteristics of performance measures, such as complete, responsive, tangible, and intangible, are also covered. The goal of performance management is to enhance efficiency and effectiveness.

What is the primary purpose of the performance management cycle?

• To increase employee salaries

• To improve workforce performance through continuous feedback

• To reduce the number of employees

• To eliminate the need for management

At which levels does performance management occur within an organization?

• Only at the operational level

• Only at the strategic level

• At all levels, including operational, business, and strategic

• Only at the corporate level

What is a key activity in performance management to achieve objectives?

• Focusing solely on financial metrics

• Implementing activities to achieve key performance indicators

• Avoiding any changes to plans

• Ignoring key performance indicators

Which of the following is an example of a non-financial metric?

• Cost reduction

• Revenue growth

• Profit margin

• Employee satisfaction

What distinguishes a responsive metric from a non-responsive metric?

• Non-responsive metrics are always subjective

• Responsive metrics are controlled in the long term

• Responsive metrics are controlled in the short term

• Non-responsive metrics are always financial