Perfomance Management Essay Example | Topics and Well Written Essays - 2000 words

Perfomance concern - Essay ExampleThe mainstream of RBS, the UK banking operations employ a back office approach for their operations. Operations when carried on at such a large scale require that the operation levels of these operations are measured with the jock of efficient methods, the flow of work is optimized and processes are effectively managed. In the past, companies lay out it quite difficult to quantify and compare the performances of its systems and assess the effect of application of improvement techniques. The need of acknowledging a common business supporting system that provides the require flexibility, information charge and measurement of performances was required. Performance management is one of the most important drives of effective and strategicHRMdevelopment in any company.The concept of performance management was initiated in the late 1990s and has been largely admired and adopted by HR departments across the globe. Performance management has assisted the companies to understand that the employee talent, motivation, expertness and retention is the main driver of the business growth prospects and profits, (Kaplan, Robert and David Norton, 1996). 2.0 Introduction of Performance Management Systems at RBS The main aim behind introducing a performance management at the RBS was to enhance the efficiency and affectivity of the existing people and process management techniques by employing high quality performance management systems. The Royal Bank of Scotland initiated the performance management system strategy to measure the effect of human capital on its bottom line financial metrics in the year 2000. With the HR executive Greig Aitken at the helm of all the project activities related to successful implementation of performance systems at RBS. The main strategy focused upon the use of PIMMS systems utilizes online software system which assists the HR department of the RBS bank to measure the performance of its employees, assess the impa ct of performance systems on employee performance and business results, and at the same time bring and implement specific systems as per the requirement of the business. In the same year - 2000, the Royal bank of Scotland introduced a new performance management system with the help of a basic Microsoft Access database at about five of its centers and monitored over 1500 faculty employees. The PMS systems which was known as the Productivity Improvement Measurement and Management System proved to be quite a success at RBS and gave considerable advantages to the management in measuring employee performances and processes, (Boris, 2007). However due to its standalone nature, the system could non be applied on a larger scale and expansion of this PIMMS system was rather restricted to the initial 5 sites only. Looking at the bulky applicability and usage of the system, the RBS developed the PIMMS systems in a span of 1.5 years and expanded its usage with the help of the companys intra net system. The system now caters to 15,000 staff employees located on over 85 RBS locations around the globe. 2.1 Advantages of PIMMS to RBS The RBS designed the PIMMS system as a capacity planning and operations management system, which easily allows consolidation a number of issues in one system. The new PIMMS system is able to