Essay question Review contemporary theory research literature critically evaluate SHRM aspect impact organisations competitive advantage Human resources management unit a business economic degree The aspect SHRM I reviewing employee performance impacts organisation s competitive advantage

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HUMAN RESOURCE MANAGEMENT - EMPLOYEE PERFORMANCE

Introduction

Human resource management (HRM) has developed into a crucial component of the contemporary business organization and the professional business environment (Fyock, 2001; George & Jones, 2008; Robbins & Judge, 2009). Today, formal approaches, practices, and procedures dominate employee recruiting, hiring, training, supervision, appraisal, and advancement and only the smallest organizations still perform those functions in the informal ad-hoc manner that used to be common throughout workplace environments. Especially in difficult economic periods and perpetually within industries with characteristically narrow profit margins or intense competition among organizations, HRM functions can represent substantial cost savings and added value where they are administrated efficiently, or they can be the source of significant unnecessary costs and undermine competitive advantage (Fyock, 2001; George & Jones, 2008; Robbins & Judge, 2009).

Within modern HRM component functions, employee performance appraisal has emerged as a crucial area, largely because it is often tied very directly to profits (Fyock, 2001; Kinicki & Williams, 2005). Naturally, the performance level of the organization is substantially a function of the collective achievements and operational efforts of its individual employees. High-performing employees contribute to positive revenue and competitive advantage through more sales, repeat patronage, professional reputation, and organizational growth. Low performing employees can potentially threaten all of those goals and contribute to the failure of entire organizations irrespective of external market conditions and factors (Fyock, 2001; Kinicki & Williams, 2005). In principle, the reason performance management is so important to business organizations is most simply stated by the observation that the organization is no better than the quality of its employees (Russell-Whalling, 2008). In that regard, the performance management component of HRM function allows organizations to monitor the quality of their staff, to identify areas where improvement is necessary for maximum competitive advantage, and to improve their competitive advantage by improving individual employee performance throughout the entire organization (Russell-Whalling, 2008).

Overview of Traditional Employee Performance Management Approaches

While many different employee performance appraisal systems have been used in different regions, industries, and organizations, contemporary professional organizations most commonly rely on a relatively small number of general…[continue]

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"Essay Question Review Contemporary Theory Research Literature Critically Evaluate SHRM Aspect Impact Organisations Competitive Advantage Human Resources Management Unit A Business Economic Degree The Aspect SHRM I Reviewing Employee Performance Impacts Organisation S Competitive Advantage" (2011, April 06) Retrieved May 22, 2015, from http://www.paperdue.com/essay/essay-question-review-contemporary-theory-50360

"Essay Question Review Contemporary Theory Research Literature Critically Evaluate SHRM Aspect Impact Organisations Competitive Advantage Human Resources Management Unit A Business Economic Degree The Aspect SHRM I Reviewing Employee Performance Impacts Organisation S Competitive Advantage" 06 April 2011. Web.22 May. 2015. <http://www.paperdue.com/essay/essay-question-review-contemporary-theory-50360>

"Essay Question Review Contemporary Theory Research Literature Critically Evaluate SHRM Aspect Impact Organisations Competitive Advantage Human Resources Management Unit A Business Economic Degree The Aspect SHRM I Reviewing Employee Performance Impacts Organisation S Competitive Advantage", 06 April 2011, Accessed.22 May. 2015, http://www.paperdue.com/essay/essay-question-review-contemporary-theory-50360

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