Elgar original reference
Edited by Chris Brewster and Wolfgang Mayrhofer
Paul Boselie, Elaine Farndale and Jaap Paauwe Performance management (PM) is one of the key HRM issues facing contemporary organisations. The process of measuring and subsequently actively managing organisation and employee performance in order to improve effectiveness is critical to organisation development and survival (Den Hartog et al., 2004). Performance management today encompasses a whole range of HRM activities beyond what we might traditionally assume to have been limited to annual performance appraisals, such as goal setting, feedback, consequences for training and development and remuneration. The growing importance of performance management in both theory and practice is clear for all to see. A recent special issue of the European Journal of International Management (2008) emphasises this further. The discussions presented suggest the latest trends in performance management include: ● ● ● ● ● ● ● ● a global tendency towards performance management through culture management; aligning corporate goals with individual employee goals; using PM for talent management and leadership development; using PM as a mechanism for distinguishing good performers from bad performers; linking PM and 360-degree feedback systems; integrating PM and information technology systems; emphasising self-appraisal and appraisals by peers; and PM as a tool for general employee development purposes. Performance management is seen as the key to maximising the return on investment in human capital and hence creating corporate competitive advantage. These are some of the findings of the Global Human Resource Research Alliance (GHRRA) – collaboration between the universities of Cambridge, Cornell, INSEAD and Erasmus/Tilburg – based on extensive case study research within leading multinational corporations (MNCs) including...
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