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PERFORMANCE MANAGEMENT (PM) (characteristics of good PM cycle (Fit with…
PERFORMANCE
MANAGEMENT (PM)
definition of
performance
management
continuous process of setting goals and objectives,
observing performance, and giving and receiving
ongoing coaching and feedback and also, developing
the performance of individuals and the teams.
objectives of PM
strategic purpose
developmental purpose
administrative purpose
who conducts PM
line managers, other stakeholders
and the employees.
when to
conduct PM
forward-looking process that is conducted
continuously throughout the year to help
manage the employee’s performances
characteristics of
good PM cycle
Fit with strategy
Reliability
Validity
Specific feedback
PM cycle
Planning
Action
Monitoring
Review and Evaluate
pros of PM for
employees
and employers
pros for
employees
employees will be clear about
their work expectations
promotes job satisfaction
improved performance
pros for
employers
employer will be able to identify
the training needs of an employee
ensures efficiency and consistency
save time and reduce conflict
pros for
organisation
Improve overall work performance
Improve employee retention rate and loyalty
Increase in productivity