Introduction

Generally, performance management can be defined as a most valuable instrument that used by a company to improve the performance of its employees by developing an environment where all the level of workforces can make best by making optimal use of their abilities. It is also called an ongoing strategic process and the main purpose of this is to attain the long and short term organizational objectives & goals by enhancing the overall work performance of employees. This strategic process allows a company link the employee’s performance with the broad organizational goals. Moreover, this process is also ensures that the company as well as its overall resources are working cooperatively to optimize the goals and objectives of the organization. In most of MNCs, performance management is used for the strategic and informed decision making. Additionally, the senior managers of a company can access and analyze the overall performance of their employees through performance management. This helps in setting of clear goals for the career development of employees. The specific purpose of this research paper is to analyze the performance management system and policy of Coles.

Performance Management Policy of Coles

In the present time, Coles is considered one of the most iconic brands in the Australia because of its sound and friendly business policies, and working style. It is one of the leading, fastest growing and reputed retail supermarkets that have established its unique position in the retail industry via its effective customer services and low cost products. As a retail company, it had started its business operations in the year 1914. The founder of the company was George Coles. Today, Coles Supermarket is providing a range of retailing products & services to millions of customers at the reduced or lower and discounted price than its competitors. Coles has covered more than 27 market of Australian retail industry which is higher than other retail chain. Moreover, in order to develop a strong position in the Australian retail industry, a range of strategic branding, advertising and promotional strategies are used (Coles. 2022).

Coles Supermarket has very sound and effective policies and standards towards the performance management. For instance, the performance management system and process of the company is in the collaboration where all the level of employees and managers are responsible for the goal setting, financial performance, and accountability of the company. At Coles, performance management system used in the form of performance appraisal system. As per this system, specific and corrective feedback is provided to employees about their performance level. For instance, the top management gives feedback to senior managers and senior managers to employees about how to enhance their work performance for the overall success of the company (Al-Hanawi, Khan, & Al-Borie, H2019).

Along with this, innovative tools, technology and IT systems are also utilized within the company to analyze the performance of employees. For example, the company is using HRM software to understand as well as analyze employee’s performance. Moreover, micro-tailored appraisal system is also used for the systematic appraisal of the employees. On the other hand, it should also be noted down that, the company has also developed a career development plan for its employees so that employee’s performance can be analyzed based on performance plan (Alzyoud, 2018).

It is also analyzed that, the corporate strategic and business objectives of the company are also connected with the performance management standards, norms, practices and strategies. The fundamental objective behind is to maximize sale revenue and profit level of the company. Moreover, based the performance management activities of the company, the HR department tries to improve employee’s productivity. Additionally, performance interviews are also conducted by the company on the regular basis to offer more data for approval. Based on these interviews, the progress of the employees is monitored on the ongoing basis. This is also helping the company in getting specific feedback from the employees on the company’s strategies, policies, systems and rules (DeNisi, & Murphy, 2017).

Specific standards are also designed by the company to appraise the performance of the employees. The main goal of performance management system at Coles is to improve the output/productivity and attaining economic goals and objectives. Moreover, in order to monitor the employee’s performance in teams, the company uses performance appraisal blueprints. In addition to this, the HR manager of the company is also takes both online and offline interviews from their employees to evaluate the growth, and development of the employees (Nikmah, & Armaniah, 2021).

The manager is provides feedback about performance so that employee’s overall development and growth can be improved. Apart from this, it is also analyzed that, in Coles, performance of employees is evaluated and accessed after the first three months. The HR managers of the company develop plans as well as create strategic frameworks to access employee’s effectiveness. In order to attain performance objectives, employees and managers are fully responsible to engaged in the dialogue to create a business environment of motivation, trust, and support (Gordon, Chinula, Chilima, Mwapasa, Dadabhai, Mlombe, & Workshop, 2018).

Goal Setting, allocating roles, agreement among employees managers, performance management cycle etc. are the key elements of Coles’s performance management policy. Moreover, it is also important to know that, in drafting of performance management policy, the company is follow and use a number of steps. The performance management policy of Coles is characterized with a number of specific and effective features. For instance, the company is considers both employees and organizational goals and objectives in its policy. Moreover, strategic & corporate objectives aligned with the performance policy. This is helping in developing relationship among the employees and company (Nikmah, & Armaniah, 2021).

On the other and, the performance management policy is designed by the company to encourage and motivate the employees. The company rewards its valuable employees for their performance. Hence, the company has increased employee loyalty and retention rate. This policy is also reducing communication gap among employees and managers. The performance management policy of Cole is also attractive because it makes employees more satisfied and happy (DeNisi, & Murphy, 2017)

Higher Job satisfaction level of employee is important to boost productivity of company and employee. The performance management policy of the company is also played key role in building a friendly, cooperative and healthy environment where employee’s performance is analyzed on the regular basis. This is helping the company in analyzing the skill set of employees. Moreover, it is also helping the employees in professional career development (Alzyoud, 2018).

Conclusion

On the basis of above analysis and discussion, it can be summarized that, the performance management policy of Coles is effective than others because it provide constructive feedback to its employees on the regular basis. On the other hand, the performance system of the company is also helping the company in re-evaluation of organizational and individual goals and objectives in an effective and proper manner. This policy is enhancing the professional growth of all the level of employees to meet the goals of the company. Overall, it can be said that, with the help of this policy, Coles is improving its productivity and profit level.

References

Al-Hanawi, M. K., Khan, S. A., & Al-Borie, H. M. (2019). Healthcare human resource development in Saudi Arabia: emerging challenges and opportunities—a critical review. Public health reviews, 40(1), 1-16. DOI: https://doi.org/10.1186/s40985-019-0112-4

Alzyoud, A. A. Y. (2018). The influence of human resource management practices on employee work engagement. Foundations of Management, 10(1), 251-256. Retrieved from: https://sciendo.com/pdf/10.2478/fman-2018-0019

Coles Supermarket (2022). About Us. Retrieved from: https://www.coles.com.au/

DeNisi, A. S., & Murphy, K. R. (2017). Performance appraisal and performance management: 100 years of progress?. Journal of applied psychology, 102(3), 421. DOI: https://doi.org/10.1037/apl0000085

Gordon, S. B., Chinula, L., Chilima, B., Mwapasa, V., Dadabhai, S., Mlombe, Y., & Workshop, M. R. E. (2018). A Malawi guideline for research study participant remuneration. Wellcome open research, 3. DOI: https://dx.doi.org/10.12688%2Fwellcomeopenres.14668.2

Nikmah, W., & Armaniah, H. (2021). Effect of employee selection and work placement on employee work achievement at PT Kereta Api Indonesia DAOP 1 Jakarta. Journal of Economics and Business Letters, 1(1), 5-12. Retrieved from: https://journal.privietlab.org/index.php/JEBL/article/view/86