Performance management is a systematic process which focuses on the effective management of individuals and teams in order to achieve high levels of organizational performance. It is a continuous process that involves planning, developing, monitoring and rewarding to maximize individual performance in order to improve organizational effectiveness and accomplish the organization’s mission and goals.
The primary objective of performance management is the establishment of a culture in which individuals and groups take responsibility for their own development and for the development of others in an attempt to achieve maximum levels of performance.
Effective performance management programs are rooted in a strategy which focuses on the personal growth and development of individuals as well as the development of teams within an organization. An effective program will also establish a shared vision about what is to be collectively achieved at an individual and organization level. This is accomplished by linking individual’s objectives with the organization’s mission and strategic plans. This gives the individual a clear understanding on how he or she will contribute to the achievement the organization’s objectives and its overall success.
Key Elements of Performance Management:
- Focusing on setting clear performance objectives
- Linking individual objectives to organizational objectives
- Implementing a on-going performance appraisal system process
- Creating clear individual development plans
- Monitoring performance and individual development
- Providing feedback and assessment on performance
- Conducting regular discussions throughout the performance cycle
- Implementing coaching and mentoring programs
- Recognizing and rewarding high levels of performance