The report will help in analyzing the importance of the performance management system in the respective organization named Star Entertainment Group. Proper analysis and identification of the different policies along with procedures related to Performance Management System will be discussed which will be inclusive of the different kinds of evaluation of the system inclusive of validity, reliability, cost effectiveness and fairness of the PMS which is being used in the organization.
The Star Entertainment Group which was formerly known as Echo Entertainment Group is one of the leading gaming and entertainment groups. The number of employees working in the organization is more than 8000 till the year 2015 and the CEO of the company is Matt Bekier (StarEntertainmentGroup.com, 2018). The company was being founded in the year 2011 and the vision of the company is to become the leading resort in Australia till the year 2020. Tabcorp Holdings demerged he operations of casinos and therefore, now Star and Echo are two different groups.
The performance management system which is being used at Star Entertainment Group is inclusive of the following:
Furthermore, the company uses the Star STRIVE framework for performance management in the organization which acts as the database and contains different data which is used to automate the process in a proper and effective manner. There are different kinds of advantages in the current performance management system which is inclusive of the following:
Furthermore, there is clear alignment of the STRIVE and balance scorecard with the vision of the respective company. Moreover, in the current performance management system, there is involvement of the different staff members who are working in the organization and this is helpful in tracking the performance against the KPI’s.
Proper evaluation of the system is essential in nature which is required to be analyzed at Star Entertainment Group which is inclusive of both advantages and disadvantages. Firstly, there are major three phases of the performance measurement which is inclusive of the following:
Validity is defined as the degree to which a measure measures and what is being supposed to measure as well. With the implementation of the participative target setting, Star Entertainment Group has been able to gain profitability in achieving the goals.
However, with the usage of the traditional PMS, there is lack of effectiveness in the measurement of the performance of employees working in the organization along with issues relating to the biasness in the subjective kind of performance management system or process which is being used at Star.
Cost Effectiveness is the other aspect which is required to be judged in terms of the performance management system which is used in the organization. There is no such cost effectiveness in the process used at Stars Entertainment Group as the traditional methods are being used and they are time consuming and expensive in nature as well (Alonso, Moscoso & Salgado, 2017).
Fairness and Reliability are the other aspects in which the Star Entertainment group is not efficient in nature. The main reason due to this ineffectiveness is the lack of the capabilities of leadership and all the decisions are being measured on the basis of the judgment of the different supervisors who are working in the respective organization.
There are various common errors in the PMS which is being utilized at Star Entertainment Group which includes the different kinds of judgmental errors such as there is huge biasness in the reviewing of the employee performance and this lacks clarity among the different other employees working in the organization.
There are various recommendations which can be taken into consideration for improving the performance management system of Star Entertainment Group. From the above analysis and evaluation of the system, this has been identified that there are various kinds of weaknesses which is affecting the motivation of the employees. Moreover, there is no inclusion of the KPI and KRA in the PMS which is used in the company in the present scenario.
Tyagi et al., (2016), has commented that there are five questions which are required to be answered in order to develop an effective kind of framework which will help in managing the performance of the different employees working in the organization. Furthermore, Podgórski (2015), has commented that the behavioral approach only deals with analyzing the different kinds of behaviors of employees working and there is no such review done on the tasks which are being done by them.
Bednall, Sanders & Runhaar (2014), has opined that the different kinds of core activities are required to be analyzed in order to achieve the business strategy. From the entire analysis, this has been analyzed and identified that in Star Entertainment Group, the company only guarantees the business goals such as finance and the other goals are being measured with the implementation of behavioral approach (Arnaboldi, Lapsley & Steccolini, 2015).
The different recommendations which can be followed by Star Entertainment Group are:
Firstly, linkage of the performance of employees with the projects and goals will help in supporting the strategic plan which is deemed critical for the success of the organization. The traditional approach of performance management is required to be removed and there should be proper implementation of the 360-degree appraisal system which can take the different reviews of the outside stakeholders, employees, peers and the higher-level employees as well (Carberry, 2012).
Secondly, there should be inclusion of proper training programs for the different employees and the employer working at Star Entertainment group. This will be essential and helpful in nature to understand the process of measuring the performance of the employees and this will reduce the biasness and validity will be increased (Buckingham & Goodall, 2014). For instance- Both managers and employees need to understand the schedule, scoring system, usage of the technology and career advancement techniques and this will be effective in nature to analyze the different viewpoints of the employees and employers regarding the performance.
Thirdly, in order to reduce the biasness in the performance management system, this is essential to introduce the Key Performance Indicator in the performance rating or review process which will help in providing job satisfaction to the different employees and this will improve the overall productivity of the organization as well. Monitoring and analyzing the KPIs is time consuming process, but this helps in providing accurate results regarding the performance of the employees working in the organization (Elnaga & Imran, 2013).
Fourthly, there should be inclusion of the development plan in the performance management system which will be used in the organization. There is a need of continual learning and performance appraisal and review is one of the best techniques to spell out the different details. The managers of the organization need to focus mainly on the different kinds of skills which are required to be developed by them and then discuss along with document these during the review meeting (Dhar, 2015).
Performance appraisal is one of the best techniques which can be adopted by Star Entertainment Group as this will help them in judging the performance of the employees through a valid and accurate process. Moreover, this will help them in managing their performance effectively with working on the comments provided to them. McIntosh & Morse (2015), has commented that making self-review part of the process for everyone is essential in nature which will help in managing the different performances appropriately. On the other hand, Gerasimov & Gerasimov (2014), has hypothesized that employees may provide with vital project or the competency achievement which will be appropriate in understanding their own competencies and work on them simultaneously.
Lastly, set review dates in advance is the other step which is required to be followed in an efficient manner which will help in regular reviews at regular intervals which will help in managing the performance of the different employees in the organization. A well-designed performance management system process can be positive in nature and this will be a positive motivator for the different employees. Furthermore, with the implementation of the effective PMS will be helpful in managing the different performances of the employees in an appropriate manner (Levashina et al., 2014).
The continuous feedback and reward management system is required to be analyzed by Star Entertainment Group which will improve the morale of the different employees working in the company (Bryman, 2014). The reward system should be changed to traditional pay which is inclusive of the basis of the performance and the competence-based pay which will be helpful in gaining more motivation while performing the different tasks. Furthermore, with the implementation of the KPI and KRA, the specific objectives will be measured which is inclusive of the following:
The different options which can be taken into consideration are as follows:
There are various kinds of options available for the Star Entertainment Group which will be helpful in analyzing the different options which can help them in becoming effective in the tasks which are being performed by them. The implementation of the 360-degree appraisal system can be included in the organization as this will help in measuring the performance through a complete process starting from the employees, employer, peers and the outside stakeholders. This tool is about answering the question which is how well the employees are performing in the eyes of those who have stake in their performance. This respective tool is being used for the entire assessment of the performance of the different employees along with the training and development of the employees in the organization as well.
Moreover, with the implementation of the 360-degree appraisal technique, this helps the managers along with the different employees in the organization to provide them with different views and there is no biasness included in the same. The different components of rewards are inclusive of transactional and relational rewards. This is the best suitable option which can be analyzed by Star Entertainment group in order to improve the overall performance of the organization.
The respective 360-degree appraisal process can be adopted by the organization Star Entertainment Group in such a manner which will help in changing the reward system which is being provided to the employees. There are different options for base pay which is inclusive of relational rewards and transactional rewards. The options are required to be taken into consideration in which this is inclusive of person and position-based rating system which will be adopted in an appropriate manner according to the situation.
There are different kinds of resistance to changes among the different employees working in the organization. The two models are psychological model and system model of resistance. These resistances are required to be reduced from the organization by reducing the fear among the employees regarding the changes which will be taking place. This has been noticed that the individuals are averse to change which is caused by uncertainty along with lack of tolerance. The Star Entertainment Group needs to include the employees in the change management process which will help them in reducing the resistance to change in organization.
On the other hand, there are other issues which is relating to losing of benefits which is being gained by the employees in the present work environment and they are scared that there will be changes in the future. This can be noticed that change is not predictable and there can be different alternatives which can be provided in order to reduce the negativity among the employees in a positive manner.
These are the different kinds of issues relating to resistance to change among employees who are affecting their morale and this is affecting the productivity in a negative manner. With the implementation of the communication and other procedures, this will help in supporting the competencies of leadership and gain more competitive advantage in the future. Furthermore, this will assist in preparation along with roll out of EA negotiation in the year 2018. There will be proper drive of the employee engagement practices at Star Entertainment group which will help in achieving more than 80% of the results in the future and gain more competitiveness as well. The measurement system which will be implemented at Star Entertainment Group is comparative in nature as this will be taking into consideration the different kinds of aspects which will helpful in managing the different kinds of efficiencies in a competitive manner.
Conclusion
Therefore, this can be concluded that the performance management system plays a major role in the different organizations which helps in improving the overall effectiveness. With the implementation of the recommended PMS, the Star Entertainment Group will be gaining huge competitive advantage. The regular feedbacks will be provided to the employees on the job which are being performed by them and providing maximum opportunity growth to them as well.
Moreover, the PMS should be flexible and reliable in nature as this will generate unbiased results and the employees should be given equal opportunity to put forward their views which can be done through the implementation of the 360-degree appraisal system and inclusion of reward system for the excellent performance.
The inclusion of KPI and KRA are required to be taken into consideration which will enable to improve the growth of the company in an appropriate manner. Lastly, the reward management system and development of feedback system will be helpful in gaining huge competitiveness in the entire market.
References
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