Performance Management & Its Process
Performance management ensures that your employees not only fulfill their responsibilities but also do the best of their abilities and up to the best of employers’ expectations. Employees are an integral & indispensable part of running your business .smoothly and efficiently.
Definition
The management of employees and departments ensures that goals and objectives are being reached efficiently and effectively. It involves defining what effective performance looks like as developing tools and proceeding necessarily to measure.
Objectives
1. Targeted staff development can be achieved.
2. It gives encouragement to staff members.
3. Here it helps to understand underperformers and they are been trained further.
4. It is useful in maintaining a documented history of employees’ tasks.
5. It helps employees’ personal growth.
6. Boosting employee morale in achieving superior performance standards.
Importance
- It involves employees in the planning stage.
- Monitoring the progress of your employees.
- Ensuring all-around development of employees.
- Evaluation of individual employees’ efficiency.
- Rewarding your employees.
Process
1. Planning and Goal Setting
It helps to identify the strength of the employees. This strength helps in planning for setting goals and directing employees to proceed toward achieving these goals.
2. Monitoring and feedback
Continuous monitoring of employee performance is a very essential parameter for employees if the organization wants to achieve its predetermined goal. If employees are not performing up to the expectation that they have to be corrected by giving accurate feedback.
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3. Developing performance
To maintain a stable performance of employees their performances have to be developed in a continuous manner.
4. Performance Evaluation
It has to be evaluated because it helps to understand to the employer whether employees are going on the right track or if there is any need of giving them the training to enhance their efficiency.
5. Rewarding performance
Reward plays a very important role in boosting employees’ morale so time-to-time evaluation and rewarding them is very essential to retain employee roles for a longer time.