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Performance Management* and Performance Appraisal (Advantages of PM…
Performance Management* and Performance Appraisal
Definition of PM
Continuous process of identifying, measuring, and developing the performance of individuals and teams, along with aligning performance with the strategic goals of the organisation
PM Process
Step 3: Continually monitoring performance
Step 4: Developing capacity to perform
Step 2: Planning work and setting expectations
Step 5: Periodically monitoring/ rating performance
Step 1: Prerequisites
Step 6: Rewarding good performance
Advantages of PM
Performance based conversations
Allowance for employee growth
New insights gained
Identifying underperformers
Targeted staff performance
Competency
Clarification of job criteria
Self-esteem
Motivation to perform
Organisational change
Disadvantages of PM
Time consuming
Biases
Purpose of PM
Serves as a feedback instrument to inform employee of how well thery have progressd towards their goals
Components of PM
Rewards and incentives
Continuous coaching and feedback
Proper orientation, training & development
Organisation mission, vision & objectives
Corrective actions
Definition of PA
Method of evaluating the job performance of an employee
Purpose of PA
Effective communication
Review and retain training programmes
Determine compensation packages
Providing feedback
Characteristics of Effective PA
Reliability and validity
Practicality
Timely
Comprehensive and specific
Openness
Parties involved in PA
Subordinates
Peers/colleagues
Supervisors
Employee