Importance of employee performance management in retail Industry Essay

Importance of employee performance management in retail Industry - Essay Example Moreover, by evaluating and analyzing the performances of the organizations as well as the performance of the individuals working in the organizations, the management is able to formulate strategies that could further help in improving the productivity of the organization. Therefore it can be said that the performance management tools and performance management of employees help in improving productivity as well as in helping firms to gain competitive advantage. According to Armstrong (2006), employee performance management is the process in which employees are provided with significant opportunities to develop and nurture their skills and knowledge for the achievement of organizational goals and objectives. Having mutual understanding between the manager and the employees is quite essential in the employee performance management as the employees tend to maximize their efforts for the accomplishment of organizational goals (Leopold et al, 2005). Therefore, establishing employee perfo rmance management is quite essential for the organization to increase its overall productivity along with the level of performance in the market. Performance management is a process that ensures improvement in both quantity and quality of work and activities taken into consideration by the organization. In addition, the process helps the organization in aligning all the activities with the organizational goals and objectives (Leopold et al, 2005). By identifying the areas of improvements and areas where the organization has its strengths, the organization is in a better position to make important strategic decisions and help in achieving competitive advantage particularly when the organization is operating in a highly competitive industry such as retail industry. The level of competition in the retail environment has significantly risen and the organization has to deal with variety of employees, due to which the implementation of performance management has become a necessity to achi eve the organizational goals while sustaining the business for long-run in the market (Jones et al, 2005). The purpose of this study is to evaluate the process of employee performance management. In order to do so, the importance and benefits associated with the employee performance management have been taken into consideration. Moreover, the retail industry within UK’s competitive environment has also been taken into consideration. For the effective evaluation of employee performance management, a case study of the UK retail industry has been presented in the study. Lastly, recommendations have been provided with an aim to help the organizations operating in retail industry to enhance the level of performance along with the overall productivity within the competitive retail landscape. EMPLOYEE PERFORMANCE MANAGEMENT Employee performance management, in simpler words is the process that allows the establishment of shared workforce understanding by motivating the managers and e mployees to have mutual understanding regarding the attainment of organizational goals and objectives. Employee performance management ensures that the employees would work towards the attainment of desired organizational goals rather than just the personal goals. With the help of this process, the objectives of the