Performance Management

Performance management refers to the processes and activities carried out by organizations to ensure that their employees are working towards the achievement of organizational goals and objectives. It involves the systematic and ongoing monitoring of employees’ performance, setting of performance goals, providing feedback and coaching, and measuring progress towards the achievement of those goals.

Performance management is an essential aspect of organizational management, as it helps to ensure that employees are working towards the common goals of the organization and that they are meeting the required standards of performance. It also enables organizations to identify areas of strength and weakness among their employees, and to take appropriate measures to address those issues.

Some key components of performance management include:

1. Performance planning: This involves setting performance goals and expectations for each employee, based on their job role and responsibilities.
2. Performance monitoring: This involves the ongoing monitoring of employees’ performance against the set goals and objectives, using various tools and methods such as regular feedback, performance appraisals, and metrics tracking.
3. Feedback and coaching: This involves providing employees with regular feedback on their performance, and coaching them on areas where they need improvement.
4. Performance appraisal: This involves formally evaluating employees’ performance against the set goals and objectives, and using the results of these appraisals to make decisions regarding promotions, rewards, and training and development.

Not many companies are adopting performance management for their organizations mainly because they do not know how. Performance management involves aligning the staff job scope to the organisation’s culture — Vision, Mission and Values, and fill any gaps through coaching and benefit both the staff and the organisation. Thus, organizations that wanted to remain competitive, productive, and successful in their respective markets must start working on Performance Management.