In today's workplace, performance improvement and the role of performance management is an increasingly popular topic. Why the intense focus on performance management now? Business pressures are ever-increasing and organizations are now required to become even more effective and efficient, execute better on business strategy, and do more with less in order to remain competitive.
An effective performance management process enables managers to evaluate and measure individual performance and optimize productivity by:
- Aligning individual employee's day-to-day actions with strategic business objectives
- Providing visibility and clarifying accountability related to performance expectations
- Documenting individual performance to support compensation and career planning decisions
- Establishing focus for skill development and learning activity choices
- Creating documentation for legal purposes, to support decisions and reduce disputes