Performance Management is a holistic system that helps to improve employee’s performance and eventually improve the overall performance and profitability of an organization.
A process of Identifying what an employee core task is, such that will be measured. It is a combination of task identified from the (a) job description and (b) Key Performance Indicators cascaded balanced score card (in order to ensure that the employee’s daily task identified is aligned to the organizational strategy.
Usually vague but absolutely necessary, performance monitoring involves the establishment of a process that would help managers ensure that they do not abdicate duties but balance their follow up in a way that would not be defined as micro-managing.
Some strategies to effectively monitor performance include:
Performance Measurement is usually mistaken for Performance Management which is wrong. Performance Measurement also known as Performance Appraisal is only a part of the Performance Management. Performance Measurement involves the comparison of the actual performance against the key performance indicators (KPI) set at the performance planning stage. This helps employee to recognize their level of performance, identify areas requiring improvements and work towards the improvement of their performance.
The biggest challenge of Performance Measurement (Appraisal) is that a lot of organizations hold appraisal once in 6 months, or once in a year; at this time, the damage has been done already, there was scarcely and time for intentional, pragmatic corrective actions and the measurement being made becomes subjective because the performance of months ago is most likely forgotten, superiors would focus on the performance of recent past in appraising their subordinates.
The goal of performance management is to eventually improve the performance of employees. Unfortunately, many use performance measurement systems to witch hunt colleagues and do not use it for strategic decision making.
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what is not managed cannot grow; what does not grow remains stagnant or die…Enahoro.
After all said and done, the performance management system of an organizations houses everything the organization requires to succeed. Between strategy to execution, there are several touch points that determines the overall result. At Pause Factory, we sustain expertise to establish and maintain a potent performance management system which ultimately will lead to improved performance and profitability for your organization.
To establish a potent performance management system in your organization, please send a mail to firstname.lastname@example.org or call 08096303933.