MT203 Unit 6 Discussion Performance Measurement Fairness
Topic: Performance Measurement Fairness
The forced ranking approach to performance management is sometimes used to identify those top performers to be retained and those bottom performers to let go. Jack Welch of General Electric introduced and later championed this method, called by critics “rank and yank,” and other companies such as Lending Tree and American International Group (AIG) use it.
- Describe the activities involved in the performance management process.
The forced ranking approach is one of several methods of managing performance described in the textbook.
- Compare and contrast the fairness of forced rankings relative to two other methods of measuring performance described in this chapter.
MT203 Unit 6 Discussion Performance Measurement Fairness Answer
Performance reviews are a necessity for both the company and employees. A company’s performance directly depends on profitability in the marketplace. Goals and objectives set the business performance in motion. Companies must have employees who are aligned with goals and objectives to ensure synchronicity. Employees can’t just show up to work and go through the motions each day. Companies can’t assume an employee’s full day’s work will support the goals and objectives. A simple solution is the communication of employee expectations which aligns with the expectations of the company. Performance reviews serve this purpose…………
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