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Performance management involves all the activities and processes that are aimed towards analysing the performance for an output in the form of feedback, reviews, documentation etc. The ultimate goal is to ensure the objectives of an organization are met.

Managing Performance in an Organization

The performance management process involves a cycle that has various stages. Besides an annual performance review is not an isolated process but goes throughout the year and all feedbacks do matter. Each year the goals vary ,performance varies and so does the discussions. Below are the steps that are performed for an annual performance cycle

It all begins with the planning process , the organizational goals and strategies are formulated in line with its vision. Accordingly each of the departmental goals are formed and are communicated to the heads . Each manager discusses the individual goals with the employees that clearly states what is expected from them and the time-frame. The goals are filled in a tracker and are moved to in progress status for the year to commence.

As the quarters pass the employees track and note down their achievements, feedback, action items and in some cases they are reviewed too. Coaching and feedback is used to ensure the employee knows how to move ahead and these meetings are used to reiterate the goals as well.

At the end of the performance review period the final annual review of the performance is done and accordingly grades and ratings are assigned. There is also an action plan defined in case of developmental areas for an employee.

All these are phases interlinked and are strongly needed to be understood in practical life. Students are needed to grasp the concepts to be able to do case study writings in performance management. They can also buy assignment help on Performance management from a renewed team BookMyEssay.

Purpose of Performance Management

The term performance management is sometimes confused with performance appraisal however it is much broader as compared to an appraisal cycle. It us about aligning the objectives of organization with that of an individual. It is about shared purpose that needs to achieved together. It is about constant communication and an urge to improvise.

Feedback mechanism as we can say since the biggest output that we receive from the performance management cycle is the effective and clear feedback in terms of how was the performance, what went great and what needs improvement. This enables an analysis of what an employee needs to work upon so that he cab achieve his goals and objectives.

Developmental needs is another aim to an effective performance management. Since the feedback will tell you the areas of improvement and now you will be able to convert those areas into training gaps or needs that can be fulfilled with developmental programs and trainings.

Decision making tool by enabling us to take various decisions with respect to important matters like promotion due to merit, termination, training need identification, marginal or low performer cases etc. This also shares a story on how hiring went, helps you take future decisions accordingly. Besides since it's a human aspect hence we have HR also looped in for some sensitive cases hence with supportive data in hand one can always pitch in for further chances or final terminations accordingly.

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