Performance management is an activity wherein the manager monitors and evaluates the employee’s work based on the set goals. It aims at creating an environment wherein the employees can perform well and give their best. Performance management gives a clear picture regarding the goals and expectations to the employees as well as managers.
While planning for the performance management for an employee the employers should try to build an environment that builds a productive environment. The employees should feel appreciated and also monitored at the same time. This is a continuous process, the goals should be executed and put down in an effective way.
Moreover, the employees should also be appreciated for their work. When the work environment is healthy and productive the growth of the company becomes regularized and improved.
Its an activity of building a work environment that enables the employees to be the most productive. It is not a single-step procedure; it requires monitoring and the influence of the manager to manage employee performance.
Performance management is classified into 4 steps known as planning, managing, reviewing, and rewarding. Each and every process should be pre-planned and executed in an effective way so that the employees do not feel pressurized and the work process becomes smooth.
The benefits of performance management are mentioned below;
Performance management is a process of helping an employee achieve their goals and increase his productivity. Its evaluated on the basis of the present and the future scenarios. On the other hand, Performance appraisal is the evaluation of the employees performance in the past and giving an overview on it.
The process includes features like feedback, goal-setting, appraisals, reviews, and rewards.
