read case study and answer the following questions. in regard to performance management. Would a performance management system work for our small business? Discuss benefits that such a system would...

Performance Management System                                6
PERFORMANCE MANAGEMENT SYSTEM
Table of Contents
Response to the Questions    3
Question 1    3
Question 2    3
Question 3    4
Question 4    5
Question 5    6
References    7
Response to the Questions
Question 1
A small business like CRB has a list of important things that range from getting new customers, management of cash flows, maintaining customer satisfaction and more. Therefore, a small business needs to have a unique workforce that makes the employees viable for growth. There are very limited resources in the small business; hence it needs to get the most out of its employees by motivating and engaging them.
Performance management in a small business helps to align the efforts of the employees to the entire business prospect. In small business, it becomes easy to integrate individual goals with larger business objectives and a performance management system helps the employees to identify their abilities even more clearly. Individual goals can help the employees to define their priorities and allows them to understand which job requires more focus (Raja Mamat et al., 2019). In addition, performance management system in a small business projects how each job is related to the overall business aspect and makes the employees more motivated to put significant efforts in the job.
Question 2
Performance management systems in CRBwill be effective to increase the productivity and the business success of the organization.
The benefits of the performance management system to the employers are reflected in an improvement in workforce planning. This gives the employers the scope of managing the workloads and delegation within the organization efficiently (Jelínková, 2017). It highlights the training gaps and helps in recognizing in which area training is needed. Introducing more relevant feedbacks helps the employers to understand the skill set of the employees. The system also helps the management to identify the right employees for promotion. A good performance management system in an organization increases employee retention rates.
The benefits of a performance management system for the employees are reflected in the consistency in their performance. The selection of employees for promotion,...