Performance Management System

For the past five years, a medium-sized telecommunications company
(annual revenues: $10 million) has handled its human resource needs
in-house. Like many organizations it uses performance management to
monitor employee performance and make pay decisions. Recently, however,
the company has decided to revamp their system to allow for more
adequately addressing talent management issues such as identifying
training needs and developing leadership talent.

You are a well-respected human resources consultant with particular
expertise in designing and implementing effective human resource
performance management services. In a 4 page paper, discuss the
process that this company should follow to maximize its performance
management systems. Include a discussion of the purposes of performance
management, the five criteria for effective performance management
systems, and your rationale for the recommendations you make.