Performance Management - The Simplest Read

A company is a unit of people with different skill sets where experts/experienced are always in demand. They are considered to be ‘performers’. Performers are crucial for any organization. Organizations largely depend on their performers to achieve their business goals. But, to maintain employees’ performance, ‘performance management’ from employers is even more crucial.

Source: HR Portal

In the contemporary world, companies have understood the importance of performance management and play their part to implement different performance management system to improve the performance of employees.

What is Performance Management?

Performance management is not about reviewing annual performance, it’s beyond that. It’s a process that helps managers and employees work together to strategize, supervise and analyze employees work objectives and overall contribution to the organization. It’s about providing on-going coaching and feedback to ensure that employees are meeting their objectives and career goals.

To understand what an effective performance management system is all about, the following points would help you. An effective performance management system must:

·       provide guidance & training opportunities to improve performance

·       be job specific that covers a large number and range of jobs in an organization.

·       include performance review based on collaborative communication between manager and employee

·       belong to real-world and understandable

·       provide a precise scenario of performances

·       include a collective process for setting goals

·       align with company’s premeditated goals

·       provide positive and continuous feedback on performance

·       observe and assessing results

·       include a fair reaction for successful outputs by employees

·       include positive review when employee requires improvement

·       support in decision-making about rewards, compensation, terminations and promotions

·       identify employees who are losing their pace and plan to improve their performance

·       identify training needs and provide development opportunities

·       form strong communication between employees and managers about the targets

·       recognize employee achievements

·       confirm that individual work strategies by employees meet organization’s goal

Performance management would not be effective until each of the employees understand the business needs, strategize and act accordingly. Any business action in a work environment impacts both employers and employees. It’s the utmost responsibility for both to maintain the balance – employees must adapt to the business needs and employers must provide equal opportunities for managing performance. 

Share on Google Plus

About Unknown

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.