Welcome to Chehans Business Management
Performance Management is a continuous and systematic approach that ensures the achievement of organizational business goals by streamlining employee performance and efforts to match the set goals efficiently. Performance Management builds a communication system between a Manager and an employee that occurs throughout the year, in support of accomplishing the strategic objectives of the organization. Performance management is an important aspect in HRM. It is used to create a work environment where people are motivated to provide their best performance and do quality work.
With the help of a performance management system you can generate a performance document for every employee for the particular financial year. This paper can be maintained in the employee file to cover the performance graph of the employee throughout the working years.
It creates a formal structure for communication between supervisor and employee. It makes it necessary for supervisors and employees to take out time and discuss the performance as well as bring out a solution to improve performance.
Employees are often interested to know the feedback about their performance in the organization. Here the performance management system makes it mandatory for the supervisor to provide timely performance feedback to the employees.
Using performance management system managers can clarify the performance and behavior expectations that employees should understand.
It plays a vital role in the annual planning of hiring, training and development practices, and goal settings.
As a part of a comprehensive compensation strategy the performance management system is very helpful to motivate the employees to improve their performance.
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