Budgeting Essay Example | Topics and Well Written Essays - 500 words

Budgeting - Essay Example man resource management which include employees’ development, compensation, rewards, and work benefits, job definition and design, and development of organizational culture. From a scientific perspective, performance management is a continuous process, which starts from the time an employee start working in an organization until the time when the employee exits the organization. Performance management is one of the things that H2O should consider placing great emphasis on as it prepares to expand its operations to the US. This is because performance management would help the company to align its HR initiatives with the US practices. That is, satisfying the needs of its human resources while ensuring that the abilities of the employees are directed towards achievement of the company’s objectives. Levensaler explains (20008) that â€Å"this is possible because performance management enables an organization to analyze how well its employees are performing on an individual basis† (p. 11). This entails analyzing how well an employee is performing in his/her current responsibilities based on the achieved results. Performance management also allows an organization to develop improvement plan. An improvement plan enables an employee to improve his/her performance, as well as prepare for future responsibilities. Furthermore, performance management would help H2O to promote cohesion between subordinates and their supervisors. Good subordinates-supervisors relationships have a positive impact not only on employees’ performance, but also in employees’ morale. In addition, performance management helps organizations to determine employees’ performance rewards which are rewarding employees depending on their abilities and achievements. Therefore, for H2O to be able to align its HR initiatives with the US practices, it should ensure that its performance management initiatives achieve the aforementioned objectives. Moreover, performance management is based on a