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Performance Management

What is Performance Management?

Performance management is the process of setting goals and objectives for individuals and organizations, and tracking and evaluating progress towards those goals. It is a continuous process that involves setting targets, collecting data, analyzing performance, and taking corrective action as needed.

The purpose of performance management is to improve organizational effectiveness and efficiency by aligning individual and team goals with the overall strategy of the organization. It helps to ensure that everyone in the organization is working towards common goals and objectives and that resources are being used effectively.

There are several components to performance management, including:

  1. Goal setting: This involves setting specific, measurable, achievable, relevant, and time-bound (SMART) goals for individuals and teams.
  2. Performance measurement: This involves collecting data on performance, using a variety of metrics and indicators.
  3. Performance evaluation: This involves analyzing the data to determine whether goals have been met, and identifying areas for improvement.
  4. Feedback and coaching: This involves providing feedback on performance, and offering support and guidance to help individuals and teams improve.
  5. Corrective action: This involves taking action to address any performance issues or problems that have been identified.

Performance management is an important aspect of organizational management, as it helps to ensure that resources are being used effectively and that everyone in the organization is working towards common goals. It is a key part of continuous improvement efforts and is often used in conjunction with other tools and techniques such as business process modeling and Lean.

Performance management is the systematic process by which a company involves its employees, as individuals and members of a group, in improving organizational effectiveness in the accomplishment of its mission]] and goals.[1]

Employee performance management includes:

  • planning work and setting expectations,
  • continually monitoring performance,
  • developing the capacity to perform,
  • periodically rating performance in a summary fashion, and
  • rewarding good performance.


See Also


References

  1. What is Performance Management? opm.gov