Human Resources and performance management
One of the key areas in human resources management is the development of a performance management system through which the individual contribution of employee team members to company results is measured. The measures generated are used to create a compensation system that encourages employee motivation and recognition, something that, in turn, is key to ensure that meritocracy governs professional career development and the human resources of the organization.
In a talk given to students from the Master of Science in International Business, jointly delivered by ESCI-UPF and UPF Barcelona School of Management, Rossella Truant, Southern European Compensation and Benefits Manager of General Electric and Head of Integration for the Renewable Energy business for the General Electric group, explained the transformation that the performance management system has undergone in the company in the last three decades.
General Electric has been a pioneering company in the adoption of performance management systems. Since the first employee management system driven by former general director of General Electric, Jack Welsh, the company has sought to move beyond evaluating employees based solely on productivity and has incorporated the respect of company values into the evaluation.
Among other tendencies, it has moved away from setting objectives and goals to discussing changing priorities, from achievements to contributions, from feedback to understanding and looking to the future. At the same time, it has sought to simplify and facilitate the flow of information between employees and management, making use of ICT to achieve greater transparency and constant communication within the organization.