Components of Performance Management System
February 12, 2025
Employees are the major assets of an organization. It is essential that the employees perform together as a collective unit and contribute equally towards the realization of a common goal. No task can be accomplished if the individuals are engaged in constant conflicts and misunderstandings. It has been observed that targets are achieved at a […]
Individuals coming together on a common platform to achieve the goals of the organization as well as to earn a living for themselves are called as employees. The smooth functioning of an organization depends on its employees and their seriousness towards work. What is employee engagement? Employee engagement refers to a situation where all the […]
A major percentage of employees find their work boring. Ask HR managers about employee engagement and they have only one answer: it is the biggest challenge that we are facing today. Days of huge increase in wages or salaries even in highly productive organisations have gone. It is unable to retain employees within the organisation […]
While Jack Welsh may deserve his fair share of credit for implementing the 360 Degree Feedback mechanism for the first time in his pioneering initiative at GE, the history of this feedback mechanism dates back all the way to the first world war and to the American Army. While the Americans did not think the […]
Communication helps living being (human beings, animals, even birds) share their feelings with others. Information sharing takes place through effective communication. Communication plays an important role in development of employees. Communication helps in the exchange of ideas, thoughts and information through speech, signals, writing and so on. How would you feel if you are not […]
According to Lockett (1992), performance management aims at developing individuals with the required commitment and competencies for working towards the shared meaningful objectives within an organizational framework.
Performance management frameworks are designed with the objective of improving both individual and organizational performance by identifying performance requirements, providing regular feedback and assisting the employees in their career development.
Performance management aims at building a high performance culture for both the individuals and the teams so that they jointly take the responsibility of improving the business processes on a continuous basis and at the same time raise the competence bar by upgrading their own skills within a leadership framework. Its focus is on enabling goal clarity for making people do the right things in the right time. It may be said that the main objective of a performance management system is to achieve the capacity of the employees to the full potential in favor of both the employee and the organization, by defining the expectations in terms of roles, responsibilities and accountabilities, required competencies and the expected behaviors.
The main goal of performance management is to ensure that the organization as a system and its subsystems work together in an integrated fashion for accomplishing optimum results or outcomes.
The major objectives of performance management are discussed below:
Some of the key concerns of a performance management system in an organization are:
The performance management approach has become an indispensable tool in the hands of the corporates as it ensures that the people uphold the corporate values and tread in the path of accomplishment of the ultimate corporate vision and mission. It is a forward looking process as it involves both the supervisor and also the employee in a process of joint planning and goal setting in the beginning of the year.
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