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The Significance of Performance Management

Question:

Discuss about the performance management.
 

The performance management refers to the measurement of the employee’s performance within the business. It also helps in analyzing the standards of accuracy, costs, completeness and speed of the employee in completing the assigned task as well. Thus, it also helps in improving the product quality and service of the organization like Coral Cape Lodge towards the customers as well. The performance management plays an important tool in determining the organizational success. The purpose of the performance management is to review the raw potential of the employee which further helps in overcoming the challenges as well. The performance management also includes the performance appraisal which further helps in motivating the employee and increasing the effectiveness of the human resource within the organization as well. The performance management helps the individual to recognize individual potential and thus it helps further in enhancing the organizational as well individual performance as a whole.  Moreover, it helps the corporate business in gaining sustainability in the competitive market.

The performance management helps in increasing the profitability rate of the organization name Coral Cape Lodge which further helps in satisfying the need of the customers as well. The strength of the performance management helps in the improvement of the corporate structure and productivity. Thus, it provides positivity regarding:

Performance oriented tradition - The performance management helps in the improvement of the corporate culture and thus helps in achieving goals towards the customer satisfaction more towards the Coral Cape Lodge.

Employee Engagement – The effective implementation of performance management within the business helps to improve the revenue of the company as a whole. The sales and profit rate of the company also led the business towards development as a whole.

The performance management provides negative impact as well towards the business as well. It includes:

The commitment of managers – Lack of effective implementation of the performance management also may lead to the lack of effective staff commitment which further affects the productivity of the business as a whole.

No. of measures – The implementation of the performance management also led to the effective implementation of too many measures which requires adequate time for the management within the workplace as a whole. This also may require much time for the human resource management to work on every indicator as well. 

The performance plan within Coral Cape Lodge aims towards customer satisfaction towards the organizational products. The performance plan includes the market research of the products and customer service rate as well. The performance plan also helps the organization to build a reputation in the market as well. The business plan also helps in providing quality food to the customers and also provides comfortable accommodation and best service as well. The effective performance plan also provides proper training towards the employees as well which further helps in improving the sales revenue within the Coral Cape Lodge as well. The effective performance plan thus helps in improving the controlling costs regarding operational efficiency as a whole. The performance plan also helps in the preparing a budget that helps in monitoring the productivity and thus improve the food and beverage strategy as well. The plan also helps responsible for forecasting and stock control which led towards gaining competitive advantage as well.

Performance Management in Coral Cape Lodge

The Coral Cape Lodge implements an effective financial management which helps in monitoring the purchase of the organizational products. The financial department also analyzes the tenders regarding goods and services provided to the customers as well. The financial management also helps in preparing a budget for the purchase which further provides the price for negotiation and terms of purchase as well. The financial department also helps in establishing the economic stability of Coral Cape Lodge and thus improves the stock control procedures as well in the market. The Coral Cape Lodge also implements the effective system that helps in ensuring the safety and security of the customers more within the company to gain customers loyal towards the company as a whole. 

The Australian organization Coral Cape Lodge implements the effective legislative policy within the business to maintain the privacy of the employees as well as the customers as well. Under the Act of Privacy Regulation 2013, the business needs to implement the effective strategy to maintain the privacy of the employees as well the customers as well. The Coral Cape Lodge also implements the effective legislative policy which helps in protecting the disclosure of the information of the business regarding the tax file no. and credit and medical research as well. The Crime Act 1914, implements the effective legislative policy which protects the official information of the Coral Cape Lodge and thus helps in implementing penalties towards unauthorized disclosure of the information as well. The business also implements WHS legislation to ensure the safety and security of the employees within the workplace as well. The WHS legislation also helps the business to provide safety towards the customers which further helps the business to gain customer satisfaction and helps in gaining competitive advantage as well.

The Coral Cape Lodge implements effective human resource management which improves the efficiency of the business in the market. The human resource thus implements effective technological skills towards the safety and security of the corporate in the business world. The technological skills help the business to ensure all procedures regarding the safety of the customers and also provide legislative policy towards providing the duty of care towards the customers as a whole. The company also implements effective technological skills which help in providing the first aid, safety, emergency and fire alert which helps in making aware the customers and thus satisfying the need of the customers within the company as well. The technological skills also help the Coral Cape Lodge to overcome challenges in the crisis and make aware the management of the corporate regarding the danger that might affect the productivity of the company as a whole in the market. The Coral Cape Lodge also ensures the safety and security of the company regarding accidents and security incidents which ensure the responsibility of the management and helps in providing security to the customers as well. The technological skills also help in providing statutory alliance towards the customers regarding the quality of service and food and alcohol that furthers helps in providing customer satisfaction as well. The updated technology thus ensures the hygiene factor as well towards customer satisfaction as a whole. 

Benefits of Effective Performance Management

The performance indicators of the Coral Cape Lodge in Australia include a certain measurable indicator which helps in analyzing the performance of the business towards the customer’s satisfaction as well. The performance indicator within the Coral Cape Lodge evaluates the performance and service of the employee. It also helps in improving the level of satisfaction of the customers as well. The key performance indicator also helps to facilitate the service which helps of the company in gaining competitive advantage as well. The indicator also includes the data that helps the corporate to analyze the competitive condition and thus helps in improving the food quality and service and helps in retaining its brand value in the market as a whole. The performance indicator also includes the analysis of the organizational performance and helps in gaining sustainability in the market as a whole.

The performance appraisal meeting within the Coral Cape Lodge is held in January and July of each financial year. The meetings are held by the company policies and procedures. The company completes 85% of the appraisal within the month as a whole. The Coral Cape Lodge also completes 100% of appraisals within the week of a month. The company thus implements Coral Cape Lodge standard appraisal form for the evaluation and analysis of employee performance within the company as a whole.

The company also provides templates to the employees one week before the meeting of performance appraisal as well. The appraisal meeting also includes the development section which needs to be analyzed to evaluate the employee performance within the organization as a whole. The appraisal needs to be signed within one day of the appraisal meeting by the manager or supervisor of the individual employee as well. The appraisal needs to be finally sent to the HR manager for the final processing and storage of the company policy within one day of the obtaining manager’s signature.

The good performance within the workplace includes the leadership style and motivation of the employee. The Coral Cape Lodge implements new policies regarding communication which helps in transparency and improving the potentiality within the workplace of the employee as a whole. The effective performance of the Corporate also includes the analysis of the operational improvements within the food and beverages departments as well. This further helps in providing best service quality of the company towards the employee and thus helps in gaining customer satisfaction as well. The efficient performance also includes the quick response of the employees towards the guest’s requests and thus helps in improving loyal customer towards the corporate. This also helps in improving the satisfaction rate of the customers and further helps in increasing the productivity rate as a whole. This also helps in adding value to the company and also improves the productivity of the organization as a whole.

The effective performance management also helps in improving the training of the staff within the corporate. This helps in the monitoring the productivity and also helps in resolving the grievance as well. The effective staff management also helps in developing the performance standards and further helps in preventing work-related stress as well. The company also implements the effective strategy that helps the Coral Cape Lodge t negotiate with the best price regarding food and beverage as well. The effective performance also helps in developing the banquet negotiation and thus helps in follow up with the event organizations towards the company as a whole. The company also helps in implementing the effective security strategy that helps in the prevention of the official documents and also helps in ensuring the employee privacy as well. This also helps in the sustainability of the business as a whole in the market. 

The organization Coral Cape Lodge implements the effective strategy to ensure the customers towards safety and security of the customers as well. The system also needs to follow certain regulations and policies which help in the improvement of the employee performance and further helps in gaining competitive advantage as well. The Coral Cape Lodge needs to implement effective motivational factor that helps in developing the employee satisfaction. It also led the business towards the competitive advantage as a whole. The company also helps in improving the food quality and beverages which further helps towards the competitive advantage as a whole. The satisfaction rate of the customers also helps in the improvement rate of growth of the company and provides the improvement in gaining sustainability of the company in the market. The company with the effective implementation of the strategy increases the improvement of the company and further helps in the development of the corporate as well. This further helps the organization in the competitive advantage and helps in improving the customer satisfaction level as well. 

Conclusions:

The company with the effective human resource management helps in the improvement of the performance management and further helps in the evaluation of the performance appraisal as well. The effective performance management helps in the development of the corporate in the market and further helps in improving the potentiality of the employee within the corporate as a whole. The effective management also helps in gaining effective service quality and also helps in improving the food and beverages as well. This helps the organization to improve the growth rate and also helps in improving the profitability rate of the company as a whole. The effective strategy also helps in the improvement of the business in providing the best quality of service towards the customers and helps in improving the growth rate of the corporate as a whole. This also helps in improving the profitability rate of the company and further helps in improving the competitive advantage as well. The effective human resource management with implementation of strategies also helps to ensure safety and security towards the customers as well as the organization as a whole. Thus, it further helps the organization to gain sustainability in the market.

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2017). Performance Management In Coral Cape Lodge: Importance, Strengths, And Challenges Essay.. Retrieved from https://myassignmenthelp.com/free-samples/strength-and-weakness-of-the-performance-management-system.

"Performance Management In Coral Cape Lodge: Importance, Strengths, And Challenges Essay.." My Assignment Help, 2017, https://myassignmenthelp.com/free-samples/strength-and-weakness-of-the-performance-management-system.

My Assignment Help (2017) Performance Management In Coral Cape Lodge: Importance, Strengths, And Challenges Essay. [Online]. Available from: https://myassignmenthelp.com/free-samples/strength-and-weakness-of-the-performance-management-system
[Accessed 27 February 2024].

My Assignment Help. 'Performance Management In Coral Cape Lodge: Importance, Strengths, And Challenges Essay.' (My Assignment Help, 2017) <https://myassignmenthelp.com/free-samples/strength-and-weakness-of-the-performance-management-system> accessed 27 February 2024.

My Assignment Help. Performance Management In Coral Cape Lodge: Importance, Strengths, And Challenges Essay. [Internet]. My Assignment Help. 2017 [cited 27 February 2024]. Available from: https://myassignmenthelp.com/free-samples/strength-and-weakness-of-the-performance-management-system.

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