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Benefits of Performance Management (Consequences of poor Performance…
Benefits of Performance Management
Importance of Performance Management
Directs the employees’ activities for realizing the organisation’s mission and vision
It aligns the major organisation functions
Direct the focus towards attainment of organisation goals.
Benefits
Manager
Reduce disagreement
Creates a harmonious relationship in workplace
Employees
Increase job satisfaction
Clear up expectations
Results in consistency
Increase in motivation
Cultivate On-the-Job competencies
Allow self-assessment to take place
Organisation
Improved organisational performance
Increase Employee Retention
Increase producitivity
Overcome barriers of communication
Clear accountabilities
Cost advantages
Increase loyalty
Increase morale
Easier to spot good and bad performers
Characteristics
Job Description
Training
Consequences of poor Performance Management
Decreased in productivity
Miscommunication
Demoralized employees
Demotivated employees
Incurred direct cost
Lack of trust
Biased appraisal
Compliance risk
Time and money are wasted
False or misleading information may be used