This essay critically examines the use of Scorecard Individual and its impact on the Petrofac International workplace and individual employee performance. As an individual employee contributes towards improving organizational performance, an individual performance system needs to be important so that their roles in the attainment of the organizational strategic objectives are understood better. Gomes and Liddle (2009) showed that individual performance systems enable employees to receive support and feedback on their performance and reveal new opportunities befitting their skills and experiences as well as learning and development areas. SHRM (2018) reiterated that performance management will only succeed if managers and supervisors also understand the systems and provide sufficient motivation and learning and development resources which enable measurement of individual performances based on their direct reports instead of the general business results. Scorecard Individual is one of the performance management systems used at Petrofac International to evaluate and support patterns of individual successes. The system is founded on performance management theories on the capability of the employees to satisfy stakeholder needs, meet organizational objectives and create a culture of commitment to overall organizational goals.
Table of Contents
- Introduction
- Description of The System
- Critique of The System
Objectives and Key Themes
This essay critically examines the use of Scorecard Individual, a performance management system utilized at Petrofac International, and its impact on the workplace and individual employee performance. The essay aims to provide a comprehensive analysis of the system's effectiveness in fostering individual employee success and aligning individual goals with organizational objectives.
- The role of performance management systems in promoting individual employee development and organizational success.
- The specific features and implementation of Scorecard Individual at Petrofac International.
- The impact of Scorecard Individual on individual employee performance, team dynamics, and organizational culture.
- The strengths and limitations of Scorecard Individual as a performance management tool.
- The significance of aligning individual goals with organizational strategic objectives.
Chapter Summaries
- Introduction: This section introduces the concept of individual performance systems and highlights their importance in achieving organizational goals. It presents Scorecard Individual as a tool for evaluating and supporting individual success at Petrofac International.
- Description of The System: This chapter provides a detailed explanation of Scorecard Individual, outlining its purpose, features, and application within Petrofac International. It emphasizes how the tool connects individual tasks with the company's vision and strategy, fosters accountability, and promotes ownership of performance.
- Critique of The System: This chapter examines the strengths and weaknesses of Scorecard Individual as a performance management tool. It explores how the system aligns with broader performance management theories and its effectiveness in fostering a culture of performance excellence at Petrofac International.
Keywords
The key terms and concepts explored in this text include performance management systems, individual performance, Scorecard Individual, Petrofac International, organizational goals, employee development, team dynamics, workplace culture, accountability, and strategic alignment.
- Quote paper
- Anonym (Author), 2022, The Use of Scorecard Individual and its Impact on Individual Employee Performance, Munich, GRIN Verlag, https://www.hausarbeiten.de/document/1306770
