Techniques of Performance Measurement- While deciding on executive compensation or while reviewing it, it is necessary to assess and measure the performance of the employee. Organizations use different techniques to measure the performance of the employees.
Following are some of the techniques of performance measurement:
- Performance Appraisal: An employee’s performance appraisal is the most comprehensive and common method to understand and measure how well the workforce of the organization is performing. Managers and supervisors can utilize a variety of performance appraisal methods and forms during an annual employee evaluation.
- Productivity Tests: If an organization is interested in measuring the productivity of the front-line workers then it is wise to use the productivity tests to determine if the employees are meeting the expectations. Productivity tests are most common in factories and production facilities where performance can be quantitatively measured.
- 360 Degree Feedback: This technique is helpful in measuring the effectiveness of the management. For 360-degree feedback to be useful to an organization, the human resources leader and training specialist need to develop training modules for employees, supervisors and managers on how to provide objective feedback and input regarding colleagues. Obtaining 360-degree feedback skillfully requires careful consideration of all feedback, regardless of the source.
- Management By Objectives: A typical appraisal or evaluation, measures performance in areas such as the employee’s technical skills, or skill set, interpersonal communication, motivation and productivity. However, some employees are also evaluated on the basis of what percentages of their goals they have attained during the year–this is where Management by Objectives is best utilized. MBO identifies goals and professionals responsible for leading a workgroup. In addition, MBO tracks progress toward completion of each objective and ensures the employee objectives correlate to the organization’s objective.
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