Perfomance Management Essay Example | Topics and Well Written Essays - 2000 words

Perfomance Management - Essay ExampleThe of importstream of RBS, the UK banking operations employ a back office approach for their operations. Operations when carried on at such a large weighing machine require that the performance levels of these operations ar measured with the help of efficient methods, the flow of work is optimized and processes are effectively managed. In the past, companies found it quite difficult to quantify and compare the performances of its strategys and assess the effect of diligence of improvement techniques. The need of acknowledging a common business supporting system that provides the required flexibility, information counselling and measurement of performances was required. Performance vigilance is one of the most important drives of effective and strategicHRMdevelopment in any company.The concept of performance management was initiated in the late 1990s and has been largely admired and adoptive by HR discussion sections across the globe. Perf ormance management has assisted the companies to understand that the employee talent, motivation, expertise and retention is the main driver of the business growth prospects and profits, (Kaplan, Robert and David Norton, 1996). 2.0 Introduction of Performance Management Systems at RBS The main aim fag introducing a performance management at the RBS was to enhance the efficiency and affectivity of the existing people and process management techniques by employing high quality performance management systems. The Royal Bank of Scotland initiated the performance management system strategy to measure the effect of human capital on its bottom line financial metrics in the family 2000. With the HR executive Greig Aitken at the helm of all the project activities related to flourishing implementation of performance systems at RBS. The main strategy focused upon the use of PIMMS systems utilizes online software which assists the HR department of the RBS bank to measure the performance of its employees, assess the impact of performance systems on employee performance and business results, and at the same time introduce and implement specific systems as per the requirement of the business. In the same year - 2000, the Royal bank of Scotland introduced a new performance management system with the help of a fundamental Microsoft Access database at about five of its centers and monitored over 1500 staff employees. The PMS systems which was known as the productiveness Improvement Measurement and Management System proved to be quite a success at RBS and gave consider adapted advantages to the management in measuring employee performances and processes, (Boris, 2007). However due to its standalone nature, the system could not be apply on a larger scale and expansion of this PIMMS system was rather restricted to the initial 5 sites only. Looking at the vast applicability and usage of the system, the RBS developed the PIMMS systems in a span of 1.5 years and expanded its u sage with the help of the companys intranet system. The system now caters to 15,000 staff employees located on over 85 RBS locations around the globe. 2.1 Advantages of PIMMS to RBS The RBS designed the PIMMS system as a capacity planning and operations management system, which easily allows integrating a number of issues in one system. The new PIMMS system is able to