In this ever-changing world, it has now become imperative for top management of the organization to understand the significance of Performance Management System. This is now not the sole responsibility of the HR Dept. anymore but should be considered as a key component in building a strong workforce essential for achieving business outcomes
Constituents of Performance Management
Performance Management to consist two important elements:
That is how, we ensure, organizations are able to succeed as an organization of tomorrow.
Performance Management facilitates the effective delivery of strategic and operational goals. Some of the tangible benefits that may accrue to any organization having the PMS are:
Our approach towards Performance Management System is a well-articulated process that goes through various stages
Our team of PMS experts understand your purpose, goals and the objectives to set the stage for Performance Management System.
We develop a system with a clear focus on Business requirements.
This stage involves orienting and training key stakeholders / PMS Champions across the Functions on the System.
Our team provides support and guidance for implementation of the System.
Most people make the mistake of addressing performance management as performance appraisal. In reality, the performance management system is much bigger and of more value than a performance appraisal. The components of an effective performance management system include:
A performance appraisal is usually conducted annually, semi-annually or quarterly. It reviews an employee’s job performance and contribution to a company. Also, a performance appraisal evaluates an employee’s achievements, skills and growth, or lack thereof. Most companies use performance appraisals to give employees feedback and also to make increment, bonuses and termination decisions.