All things performance management and more explained
Q. What is performance management?
A. Performance management is a process of managing performance or productivity of an organisation or individuals within a team. It involves setting and evaluating objectives and goals for an employee or organisation in a given duration, most popularly an annual cycle. These objectives and goals are then reviewed or appraised on a quarterly, halfyearly or annual basis.
Q. What is performance management system?
A. A performance management system is a systematic process of measuring the performance of employees and productivity of organisations by setting goals and objectives based on employee job descriptions and organizational goals and tracking them. This system or process is also used to appraise employees periodically either for promotions or better compensation and devise rewards and recognition programs based on achievements.
Q. What is performance appraisal?
A. Performance appraisal is a process whereby Managers and employees evaluate the employees performance over a period of time, provide feedback on employee strengths, weaknesses and suggestions for improvement. The outcome of the process is either a rating or ranking that establishes the employees' position within the organisation based on which further decisions about increments and promotions are derived.
Q. What is continuous performance management?
A. Continuous performance management focuses on managing performance on a realtime and ongoing basis rather than periodically as done in traditional performance management. Tracking performance on a continuous basis helps organisations stay informed about the progress of employees and organisational goals throughout the cycle and take critical action to improve business outcomes. Read our blog on how adopting continuous performance management can benefit your organisation.