A study on Performance Management through Recession Metrics during Downturn

Dash Bidya ()
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Dash Bidya: Srusti Academy of Management, Plot no. 38/1, Near Info city, Patia, Bhubaneswar, Orissa, INDIA

Advances In Management, 2009, vol. 2, issue 10

Abstract: Recession indeed presents a very difficult time for any existing enterprise in today’s corporate world and no company is exempted from this truth. It is essential for every company to know how to implement the right metric set for this very trying period. Performance management through recession metrics implemented is indeed a must. Employee morale is one thing that is hard to maintain in any company during this extremely trying and frustrating period. Communication should definitely be one of the focus points of the recession metrics. Open communication should be administered because without this, the informal grapevine would then be the ultimate source of havoc in the company. Anxiety levels would be raised and the employees themselves would feel detached and angry because they are not being told everything that has been going on under their noses. The restructuring of the organization should also be included in the metric set. Downsizing is inevitable so there will certainly be a lot of people that the company would have to let go. More importantly, the employees left behind are the ones who need to do more work with fewer resources so they might need to work longer hours and shorter days – to maximize time and cut costs. Thus, the restructuring of the organization and the workforce should be done systematically so that employee morale would not be made to suffer more. Performance management is such a key, by which every organization can do the proper assessment of employees and their output which matters a lot to both the employees and the organization in downturn.

Date: 2009

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