Appraising Performance: Methods

Within the Discussion Board area, write 400-600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions with your classmates. Be substantive and clear, and use examples to reinforce your ideas.

Senior leadership has emphasized that effective performance management is critical to long-term success at Matrix. Communication in performance management is the next topic that you will explore. Since communicating objectives, discussing performance expectations, and dialogue between employees and managers builds success, you will need to discover some best practices to share with the HR department. With you follow classmates, please discuss the following:
Complete the following:

What are some formal methods of communication in an effective performance management system?
What are some informal methods of communication in an effective performance management system
What are some advantages and disadvantages of formal methods and informal methods?

HINT: To meet the expectations for this assignment you should demonstrate knowledge of both formal performance appraisal systems such as management by objectives (MBO) and informal performance appraisal systems such as routine and immediate feedback of the manager to the employee. You should also be able to comprehend that combining elements of both a formal and informal system can be beneficial. For example, feedback of a formal performance appraisal system may only be provided once a year. On the other hand, feedback from informal performance appraisals, as indicated above, may be provided to an employee multiple times during the year.