Introduction
If the current era would have been recognized as the era of technology and effectiveness then it would not be wrong, because the current era is the foremost example of productivity and efficacy level, in which the organizations are working with lots of zeal and confidence to enhance their productivity in the market (Cardy and Leonard, 2011).
Employees are known as the “Life-Blood” of an organization. Like a body cannot survive with blood, no organization can survive without the effective and organized employees. Employees are the people who only have one brainchild in their strategy and mind which is to push the organization more towards effectiveness and economic prosperity by enhancing the revenue recognition stake. There are hundreds of thousands of organizations are currently working in the world, but only a few get high appreciation and effectiveness in the market (Hakel, 1998).
The main reasons behind getting effectiveness in the market are the tendency of these companies to fulfill the needs of their employees in an effective and organized manner. The performance of the employees depends heavily upon the core performance of the companies, and their tendency to move the things in the favor of the employees (Moynihan, 2008). In connection to provide their days and nights, employees also required something in the return from their employees which are intrinsic and extrinsic rewards. The organizations who found interactive with their employees in terms of motivating their needs are more effective and sound as compared to those ones which are unable to accomplish the same target particularly. In this assignment, the requirements need to analyze the performance management system of an organization, in which we are working. The company in which working is done is Apple Inc.
Analysis and Findings
Apple Inc is an American multinational corporation that has its physical location in the area of Cupertino, California that designs, develops, manufactures and then sells the consumer based electronics, online services, computer software and the personal computers in particular. Though, the company came up with number of effective and sound products in the market, however some of the major products of the company are iPad tablet, Apple Store, Apple Iphone and the operating system (Moynihan, 2008).
Stever Jobs is known as the founder of the company who founded the company in the financial year 1976, and now the company has emerged as the 2nd largest information technological company of the world by revenue recognition target after the Samsung Electronics. It is one of the largest organizations of the world in terms of market capitalization, and has the tendency and potential to grow further in the market with efficacy and zeal at the same time Paladino, 2011). The company enjoyed the brand of Apple Smart Phone wonderfully well, and that is the main thing that made the product the highest selling products in the world. Apple Inc is currently dominating the Smart Phone market, with its closest competitor is Samsung. However, the product quality and price association of Apple Inc is far better than that of Apple Inc. The shares of the company are currently trading in the NASDAQ market, and currently lie in the Computer Hardware industry. The company had reported net revenue of US$ 182.795 billion in the financial year 2014 with operating income of US$ 52.503 billion in the same year, showing the exceptional growth of the company in terms of revenue recognition.
Analyzing the Current Performance Management System
Management is referred as the core synergy of four elements and all of these elements are essential for them like planning, leading, organizing and controlling. The management system that usually associated with the core performance of the employees of a company is known as Performance Management System (PMS), and it cannot be derailed from any aspect. A PMS which will be in the favor of a company would be regarded as the most important types of system or an organization (Moynihan, 2008).
Apple Inc is one of those organizations of the world which has a remarkable level of compliance with almost every working standard particularly. Apart from having a perfect and organized employee’s monitoring system, the company also has a perfect performance management system as well that makes them eminent as compared to other companies of the world operating in the same industry. Apple Inc cares for their employees and always tries to enhance their capability by enhancing their motivating factor with the help of intrinsic and extrinsic rewards (Paladino, 2013). The level of extrinsic rewards of Apple Inc is simply unmatchable, and no organization is even near to the amount of external benefit and motivational factor which the company is rewarding to their employees. Apart from that the company has a transparent performance management system, known as Annual Performance Review (APR), in which the performance of each of the employee would be monitored through some of the most sophisticated systems which also records the punctuality and attentiveness of the employee in the company (Paladino, 2013).
After a critical observation of the PMS of Apple Inc, it can be clearly found that the company has a great recognition in the market to enhance their productivity and level of efficacy in the market for the further effectiveness and development of the company in a prescribed and effective manner. The employees of the company are very happy and pleased with the performance of the company. The in line managers and supervisors are very helpful in every department of Apple Inc, which is surely a perfect sign of effectiveness for them in the market.
Team Working is one of the most important types that associated with an organization; in fact it is most important in terms of the productivity of a specific department. A department wherein the members or team will work like a strong team would be more worthwhile and effective as compared to other organizations operating in the same aspect. Apple Inc is one of those organizations that promote their employees to work in the teams (Pulakos, 2009). The company has a downward communication process system, which also known as De-Centralized decision making approach in which every department is responsible for making their own decisions on their capabilities and level of ethics. However, the upper management will have a close look over the company, and all of their core operations. The team working in the Apple Inc is continuously growing and creating sheer benefits for the departments of the company that will collectively enhances the productivity of the company in an effective and organized manner.
The second most important thing that associated with the performance management stance of a company is their ability to balance the work and life of the employees (Varma, Budhwar and DeNisi, 2008). Those organizations who think their employees as a human are more productive as compared to those organizations who think that their employees are like a robot. Apple Inc is one of those organizations of the world which always try to make the perfect tradeoff of the work-life balance particularly. The company doesn’t interfere in any personal matter of their employees, however the management always like to help their employees which are founding some difficulty as far as managing their work life balance to retain them for a long span of time, because all employees really matters for Apple Inc, and they cannot stay away from all of these things particularly.
Happiness in the Workplace is yet another important measure used by the organizations as far as enhancing the workplace benefits and diversity to an organization (Varma, Budhwar and DeNisi, 2008). Organizations are entitled to provide the most effective and powerful congenial environment to their employees for their core productivity and effectiveness. The employees of those organizations which provides congenial environment in terms of their employee’s management are more productive as compared to other organizations of the world. Working in Apple Inc is like a dream for every employee in the world, because the benefits and workplace benefits and happiness of Apple Inc is unmatched with any other company of the world. Apart from providing congenial and friendly working environment, the management also provides all sorts of safety and care to those employees who are directly linkage with the complex and heavy machineries. Apart from the General and Medical Insurance of each and every employee of the company makes it easier for the company to enhance the level of capability of their organization in a well organized and perfect manner in Apple Inc.
Employee’s Engagement with the work is extremely important and essential for the sake of an organization, and those organizations in which the level of employee’s engagement is high are comparatively more productive and effective as compared to other organization (Varma, Budhwar and DeNisi, 2009). One of the basic performance management stance found in the Apple Inc is the core engagement of their employees which are currently associated with different departments’ altogether. Apple Inc also arranges some functions and ceremonies from which they can make their employees engage in working and in different social activities which will be effective for the company in the near future. In this way, the company has more chance and effectiveness to stay in the business and bring positivity in their functions and operations.
Producing a Set of Recommendations
Though Apple Inc is doing a fantastic job as far as enhancing the productivity of their organization is concerned, however the company is in severe competition with other technological companies of the world. In this connection, it is essential for the company to come up with such strategies which will enhance the employee’s satisfaction and interaction level of the company. There are two important recommendations which have to apply over the stance of the company in particular, and these two recommendations are as follows
- Communication is an important thing that associated with an organization, and it is equally beneficial for the Apple Inc. It is recommended to the company to enhance the level of communication among their employees and the management to minimize the level of riskiness and problems of conflicts among the employees and the management. The company should allow coming to the superior authority to share their views without any sort of barrier in it. It will certainly enhance their behavior in the future.
- The second recommendation of the company related with the application of Management Bi Objective (MBO) approach. Through this particular approach, the organization will become able to communicate with their employees in a free and effective environment. Employees of the company are free to share their views and every problem with the management of the company to enhance the level of interaction among each other. This is the most important strategy of performance management used by the organizations, and Apple Inc has to implement the same on the practicality.
Conclusion
Apart from the firing and hiring of employees, the Human resources management department is one of the most important departments associated with an entity for their economic and strategic growth. Most of the times, the HR department will work to train their employees in a perfect and organized manner. Apart from that, the HR department is also held responsible for managing the annual performance of their employees with the help of effective and powerful performance management methods. In this assignment that revolves around the core circle of performance management, the essence of performance management has been analyzed for the Apple Inc. From this core and critical analysis, it is evaluated that the financial position of the company is perfect, and it is equally found effective as far as managing the performance of their employees, and it will certainly help them to attain a bright and effective future in the later terms.
References
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