The Redesign Of Performance Management System For M Iron And Steel Group Co., Ltd

With the development and improvement of the market economy, the enterprises are facing increasingly fierce competition. More and more companies find that the key of competition among enterprises is the talent competition, and standardized performance management system can maximize employee’s motivation and creativity. However, at present, most companies did not form a systematic and scientific performance management system; there are many problems in the operation of performance management, especially in state-owned enterprises, employee’s performance appraisal does not play its proper performance. How to improve the performance management system to improve business performance become a hot topic. In this paper, we talk about the operation of the performance manangement of M Iron and Steel Group Corporation, a state-owned steel enterprises. With the rapid development of business, the original enterprise performance management system does not match the companies, leading to the fact that the employee motivation is not high and the company performance declines rapidly, hindering the completion of business performance improvement and strategic objectives. So M company needed to adjust existing performance management and optimize corporate performance management system to improve the company’s performance, thus making the realization of corporate strategic objectives.Based on the study of the relating theory and methods of performance management, we talk about the status of M Iron and Steel Group Company performance management system’s operation, finding the problems through questionnaires; then use the methods of objectives management, key performance indicators and balanced scorecard method to establish the performance indicators system, which include three levels KPI; at the same time, he five aspects of performance management processes are optimized; finally,we make some guarantee program from three aspects:ideological, organizational and institutional. This paper established a widely applicable, workable optimized performance management system, and provide an important reference for the other enterprises in the same industry.