Performance management is a process of ensuring that the activities and outputs achieved meet an organisations goals and objectives in an effective and efficient manner.
It can focus on either the performance of an organisation, a department, an employee, or a process, but more often than not it is on an individual performance basis.
It is what has now commonly replaced the old annual appraisal system.
Here are some examples of how perfomance management may be used in your business:
- An ongoing General Appraisal (my recommended minimum!’)
- 360 Degree Appraisal
- Technological Performance Appraisal.
- Employee Self-Assessment.
- Manager Performance Appraisal.
- Project Evaluation Review.
- Sales Performance Appraisal.
Perfomance Management is a systematic process of managing and monitoring an individuals performance against their key performance parameters or goals. It is regarded as a process for driving the individual and organisations performance.
In my view, perfomance management should be a habit in every business, but more often than not it is not considered until there is a desire to manage an individuals under perfomance.
Whilst there are many elements that go into performance management there are perhaps fundamental stages:
- Planning (purpose? format? structure? term?)
- Management and employee consultation.
- Goal setting for performance indicators.
- Monitoring, appraisal and unbiased feedback.
- Training, development and improvement.
- Reward and compensation.
An effective performance management system ensures that individual goals are aligned with the organisational goals so that performance at both the individual, team and organisational level are enhanced.
Continuous performance management of all your team has so many benefits vs rolling out a process on an adhoc basis.