Performance Management
Performance management is an ongoing process that aligns employee goals with organizational objectives through continuous feedback, coaching, and recognition. It includes various methods of performance appraisal, emphasizes the significance of effective feedback in employee development, and the importance of linking performance to rewards, which ultimately enhances motivation and retention within the workplace.
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What we have learnt
- Performance management is an ongoing cycle, not a one-time event.
- Goal setting, regular feedback, and structured appraisals are key elements.
- Multiple appraisal methods exist—choose based on role and company culture.
- Linking performance to rewards boosts motivation and retention.
Key Concepts
- -- Performance Management
- A continuous process of identifying, measuring, and developing employee performance to align individual goals with organizational objectives.
- -- SMART Goals
- Goals that are Specific, Measurable, Achievable, Relevant, and Time-bound, used for effective goal setting.
- -- 360Degree Feedback
- A performance appraisal method that includes feedback from peers, managers, subordinates, and self-evaluations to provide a holistic view of performance.
- -- Behaviorally Anchored Rating Scales (BARS)
- A method linking ratings directly to specific behaviors to assess performance objectively.
- -- Management by Objectives (MBO)
- A performance appraisal method where employees are evaluated based on the achievement of specific goals aligned with the organization's objectives.
Additional Learning Materials
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