Questions and Answers
Performance management is a continuous process that includes setting goals and observing performance.
True
Performance management does not require alignment with the organization's strategic goals.
False
One of the aspects of performance management is to inform employees about areas needing improvement.
True
Performance management includes making irrelevant administrative decisions such as salary adjustments.
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Identifying high-potential employees is not a focus of performance management.
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Everyone wants to do a good job and help the company is a strong foundation for relationship-building.
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Establishing prerequisites for a performance management system does not require knowledge of the organization's strategic goals.
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Reverse mentorships involve less-experienced staff guiding veteran colleagues.
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Tailoring management to individuals' strengths and personalities is unnecessary in a team.
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Team-building events should be conducted in the office to maximize employee interaction.
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Mixing project teams with diverse perspectives can hinder innovation.
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The prerequisites for implementing a performance management system include knowing the tasks and required skills for the position in question.
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Communicating the organization's goals is not important for alignment across the company.
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Work analysis is essential before implementing a performance management system.
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Knowledge includes performing work in the past.
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Skills are attributes developed only through theoretical training, not through practical experience.
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Abilities are defined as the intellect level required for work performance.
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Payroll processing involves reviewing timesheets and approved leave forms.
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The Certificate of Creditable Withholding Tax is prepared after validating Accounts Payable Vouchers.
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Non-issuance of further cheques is not connected with unliquidated advances of employees.
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Reviewing liquidation reports is part of the advances of employees process.
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Results from a job appraisal typically include both accountabilities and specific objectives.
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Behaviors in performance management refer only to the end results produced by an employee.
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Competencies are measurable clusters of KSAs critical for determining how results will be achieved.
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Active participation in goal setting is not essential for employee commitment to goal achievement.
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Performance touchpoints should only occur at the end of the review cycle.
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Salespeople prefer to be appraised solely based on their sales figures.
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Developmental needs should not be addressed during the performance execution stage.
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Check-ins are recommended to solicit performance feedback throughout the review cycle.
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Government remittances include SSS, Pag-ibig, PhilHealth, and corporate income tax.
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A summary report of all government remittances should be prepared.
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The annual budget preparation does not require any assistance.
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The Monthly Revenue Reporting Package must be reviewed by the Cashier.
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Daily cash position reports are part of cash reporting responsibilities.
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Financial records must be updated and maintained for 5 years after the filing deadline of the Corporate Annual Income Tax.
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Keeping records of journal vouchers and government reports is required for the last 5 years.
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Performance planning involves discussing organizational goals and expected outcomes with employees.
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Study Notes
Introduction to Performance Management
- Performance management is a continuous process involving goal-setting, observation, coaching, and feedback.
- It aligns employees' activities with organizational strategic goals, enhancing operational efficiency and competitive advantage.
Key Functions of Performance Management
- Connect employee behavior and output with strategic priorities, fostering alignment with company goals.
- Support fair administrative decisions, including promotions, salary adjustments, and terminations.
- Provide employees with feedback on performance and areas needing improvement.
- Communicate expectations from peers, supervisors, and customers.
- Offer insights into career paths based on individual employee performance.
- Identify high-potential employees and star performers within the organization.
- Anticipate hiring needs and skill sets required for future roles.
- Assess the effectiveness of Human Resources initiatives.
Principles of Performance Management
- Avoid overthinking; emphasize a collective desire for good performance.
- Customize management styles according to individual employee needs, strengths, and aspirations.
- Facilitate team-building events off-site to help employees connect in informal settings.
- Encourage reverse mentorships by allowing newer professionals to share insights with experienced colleagues.
- Create diverse project teams to promote innovation and tackle challenges from multiple perspectives.
Prerequisites for Performance Management Implementation
- Organizations must establish their mission, strategic goals, and effective communication to align member efforts.
- Conduct work analysis to understand job requirements, tasks, and necessary knowledge, skills, and abilities (KSAs).
Work Analysis Components
- Knowledge: Required information to perform the work effectively.
- Skills: Attributes gained through experience performing the work.
- Abilities: Innate aptitudes, not necessarily linked to prior training or work experience.
Performance Management Phases
- Performance Planning: Supervisors and employees meet to define objectives and acceptable work methods.
- Results: Focus on measurable outcomes tied to job accountabilities and specific objectives from job descriptions.
- Behaviors: Assessment of how tasks are performed, emphasizing KPIs related to competencies like communication and customer service.
- Performance Execution: Employees work towards agreed-upon goals, requiring commitment and regular performance check-ins for ongoing feedback.
Success Factors for Employees in Performance Management
- Employees must be engaged and committed to achieving set goals through active participation in the goal-setting process.
- Regular check-ins allow for timely feedback, preventing reliance solely on formal review cycles for performance assessments.
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Description
This quiz covers the key concepts of performance management, including goal-setting, observation, and feedback processes. Learn how performance management aligns employee activities with organizational goals and enhances efficiency. Test your understanding of its functions, principles, and impact on HR decisions.
