Everyone is talking about performance management, but do people actually know what they are talking about?
There are a lot of misconceptions going around and every other person has a different opinion on what performance management really is. Here’s a brief description of what performance management actually entails.
Performance management (PM) is a continuous process of creating an environment where employees and their team leaders interact on a frequent basis about the objectives, performance and growth of the individual in the organisation. PM is a very broad concept, where an evaluation or appraisal is only a small part of. The general goal of PM is to enhance the efficiency of the employees and define and monitor an individual’s contribution to the organization. The emphasis is on improving, learning and letting everyone in your company thrive.
PM cannot be measured; it’s not about giving scores or ranking colleagues. In addition to this PM can not be replaced by a tool, yet there are tools that support a PM system in a company. A Performance Management Tool can actually help manage expectations for both team members and team leaders, which can in its turns reduce stress and turnover rates.
Implementing a consistent performance management system should thus be a priority in every company of every size, anywhere in the world.
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