Performance management is one of the strategic performance which helps the organization to achieve its goals in systematic way. Performance Management deals with setting new goals and targets, which will give company a new achievements all together. Performance Management requires both employee and management involvement. During this process company apply and invent new ways, techniques, approach and technologies. Performance management includes complete planning, reviewing, monitoring and feedback process. Performance Management process helps to set the priorities of the managers and employees. This process helps to identify the gaps, loopholes which are highly improved through training and mentoring. It helps to get clear goals and thus helps to improve the business process. Performance Management process can be applied to any individual department or for overall company. Performance management is applied in either formal or informal way.
Performance Management System is applied both ways. It is extremely necessary for the organization. The reason behind this is employees while performing if are not monitored or proper feedback is not provided this will never improve the work process. Basically it is a two way discussion which provides scope for improvement. This process also helps to find out the issue which is affecting the employee’s performance.
Some queries which will help to understand from where to start and how to start-
All these queries will help to decide the next plan of action, which will benefit both the organization and employees.
Performance management process is incomplete without reward process so, it is mandatory to end up the performance management with appraisal process.
Performance management helps not only to improve the organizational achievements it also helps to uplift the performance and carrier achievements of the employees. Performance Management process helps to gain an overall improvement of both employee and employer and help to achieve new heights of success.