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  • Subject Name : performance management

Case Study: Travel Insurance Co.

Introduction

The aim of this study is to critically evaluate the case study which is based on the Australian travel Insurance Company that is Travel InsuranceCo. The organisation is specialized in providing travel insurance and guidance to travellers. The organisation has expanded its business in a very short period which leads the organisation to attain success in minimal time. CEO of the organisation is Mark Strong who believes that improvisation in the management can lead to better results and better performance of the organisation (Shet, Patil & Chandawarkar, 2019). Therefore, he added certain policy in the organisation which can strengthen the organisation performance and working. This study will identify and analyse the problem in the organisation in context with performance management. However, this is study will also demonstrate two practical solutions for the organisation in redefining and improving performance management practices.

Task 1

Performance management refers to the process business uses in the corporate world to assess staff and determine the efficiency of its practices in accomplishing its objective. Performance management comprises of various business activities and monitoring programs of those activities. This process shows the set of activities and outputs that meet the needs and requirement most efficiently and effectively. Mark Strong marks different policies which modified performance management and deliver flexibility to the employees. As per the new policy, a member of the organisation are promoted based on individual performance (Gaddis & Ferrell, 2018). The travellers’ specialist should have feedback sessions every 6 weeks with the team leader. Each session is comprised of various themes like strength values and growth.

New flexibility policy of the organisation aids the staff to get more flexibility in working by managing work remotely from their houses for at most three days in each week. Apart from this, the team member needs to set their annual performance goals with the team leader and check their yearly targets. However, these changes in the workplace are done to enhance the performance of the employees and give them a better environment of working. Moreover, these changes lead to having miss management in the organisation. These strategies negatively impact the performance of the organisation which leads to degradation in employee performance as well as organizational performance.

Due to the new performance management system, the organisation have decline ten per cent in its last month sale and receive poor feedback from the customers. These rating and declination impacts on the reputation of the organisation as an organisation are in its developing stage. Therefore these issues impact the performance and productivity of the organisation.

The major issues that have been identified from the case study are least communication among the employees, improper work-life balance and increase the pressure of managing performance. Due to new flexibility policy of the organisation, the employees were not able to balance the work and life (Cook & Artino Jr, 2016). Apart from this, communication gaps between the employees and the team leader increase due to virtual meeting conducted on online platforms rather than conducting meeting face to face. As communication is one of the most important tools for the functioning of the organisation and in this case study communication is very week among the leaders and employees. Also, the performance of the employees is evaluated each month which is very difficult for employees to manage.

Frequent performance evaluation not only impacts employees’ performance but also decrease their motivation towards the work. Also, many employees are working from home as they can't get connected with team leader properly. Sometimes employees become more careless due to the facility and flexibility provided by the organisation. In the present era of globalisation, it is not possible to evaluate the performance more frequently as it decreases the innovation and the productivity of the employees.

Employees largely focus on their performance in terms of target achievement rather than in terms of enhancing their skills for long term benefits (Rodriguez & Gallardo, 2017). These are the issues that are identified in the organisation performance management system. These issues largely impact the growth of the organisation as it leads to unsatisfying services. Customers are highly dissatisfied with the services delivered by the organisation in the past few months. The organisation need to change the performance management of the organisation in order to gain its performance and

Task 2: Recommendations

In order to eradicate these issues in performance management of the organisation, Mark Strong needs to take initiatives in order to eradicate these issues. The organisation need to apply various theories and models in order to understand the employees’ perspective and the leader’s perspective. The problem faced by employees can be eliminated by applying content theory. According to this theory, managers can find the factors to improve performances by interacting with employees and knowing their perspective towards problems. The organisation needs to understand the problem faced by the employees and take effective steps the favour of organisation as well as employees (Zimmerman, 2019).

As per this case, study employees are not able to focus on their work due to frequent performance evaluation. Frequent performance evaluation demotivates employees which ultimately impact their productivity and performance. The organisation needs to understand the problem faced by the employees and take actions that come in favour of the organisation as well as employees satisfaction. The organisation can evaluate the performance of the employees every six months and analyse the growth rate. After that leaders can have a broad scenario of their performance evaluation. Leaders need to conduct meeting only through face-to-face interaction rather than using social media platforms. Face to face interaction increases the effective communication between the employees and the leader.

As the least interaction among the employees leads to an improper exchange of important information in the organisation. However, making any kind of policy regarding the flexibility in working hours organisation leaders should ask employees and acknowledge their point of view towards the policy. It is important to know that this kind of policies is favourable in the organisation or not. The organisation should ask employees and leaders about the need for flexibility in working hours. If both of them are satisfied with the present working hours of the organisation then no such changes need to be implemented by the organisation.

Leadership plays a very important role in the development and the success of any organisation. Leaders motivate and encourage employees to perform better and accomplish all the predefined goals of the organisation. Effective leaders not only evaluate the performance of the employees but also guides them the right path. As per this case study, the leaders and employees have weak interaction which ultimately impacts the performance of the employees. A good leader always communicates with their team members in any situation and in any scenario. Therefore effective leaders need to be appointed by the organisation. As this organisation is a small scale enterprise therefore the organisation can give training to the leaders to enhance their performance without much investment (Svoboda, Rozek, Hyde, Harackiewicz & Destin, 2016).

The main benefit of a small scale enterprise is that fast changes can be done in a minimum amount of time. Different theories suggested that leadership highly impact the performance of the organisation. The employees of the organisation are not comfortable with frequent performance evaluation. It is the responsibility of the leader to evaluate the performance of the employees. No time boundation applies to the leaders as they can guide the employees at any point of time in order to enhance their performance. An effective leader accomplishes all the predefined goals of the organization by motivating and empowering the team members.

As per the case study, the communication gap is a major issue which causes other problems in the organisation. This issue can only be solved by having effective leaders in the organisation that brings diverse people together towards a single goal (Crowston & Fagnot, 2018). However, if the effective leadership style is obtained by the leaders then it is easy for the organisation to adopt any kind of policies which favours the organisation as well as the employees. These two recommendations are the organisation helps in defining and improving their performance management practices.

Conclusion

It is concluded from the study that, Travel InsuranceCo is specialisation in providing travel insurance and guidance to travellers. The organisation has expanded its business in a very short span of time which leads the organisation to attain success in minimal time. The major issues that have been identified from the case study are least communication among the employees, improper work-life balance and increase the pressure of managing performance. Due to new flexibility policy of the organisation, the employees were not able to balance the work and life. These strategies negatively impact the performance of the organisation which leads to degradation in employee performance as well as organizational performance. Due to a new performance management system, the organisation have decline ten per cent in its last month sale and receive poor feedback from the customers. The problem faced by employees can be eliminated by applying content theory and effective leadership approach.

References

Cook, D. A., & Artino Jr, A. R. (2016). Motivation to learn: an overview of contemporary theories. Medical education, 50(10), 997-1014.

Crowston, K., & Fagnot, I. (2018). Stages of motivation for contributing user-generated content: A theory and empirical test. International Journal of Human-Computer Studies, 109, 89-101.

Gaddis, B., & Ferrell, B. (2018). Investigating Three Approaches of Using Personality to Predict Competency-Based Performance. Personnel Assessment and Decisions, 4(1), 3.

Rodriguez, I., & Gallardo, K. (2017). Redesigning an educational technology course under a competency-based performance assessment model. Pedagogika, 127(3).

Shet, S. V., Patil, S. V., & Chandawarkar, M. R. (2019). Competency-based superior performance and organizational effectiveness. International Journal of Productivity and Performance Management.

Svoboda, R. C., Rozek, C. S., Hyde, J. S., Harackiewicz, J. M., & Destin, M. (2016). Understanding the relationship between parental education and STEM course taking through identity-based and expectancy-value theories of motivation. AERA Open, 2(3), 2332858416664875.

Zimmerman, D. (2019). Foundations of Motivation Anthony Emeka Nwobodo MGT87500 California Southern University.

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