Every company aims to achieve maximum efficiency in every professional task. One can attain this by making sure that the performance of each and every employee is up to the mark. The process of doing so is known as performance management in the professional world. In this process, the managers and the employees work together in synchronization. They monitor, plan, and review the employee’s work efficiency and overall contribution to the progress of the company. Usually, the analysis of one’s professional performance takes place on an annual basis. But in the process of performance management, this varies from company to company.
Performance management is basically a continuous process of deciding goals, assessing the progress and according to it, gives feedback to the employee. By providing feedback on regular intervals, the employees can work upon their shortcomings. This will ensure better performance and dedicated service to the company. It provides enough information to keep a check on the progress report as well as each employee’s contribution to it.
Aim of performance management
The main aim of the process of performance management is to improve as well as promote the employee’s effectiveness. The role of HR has expanded with the overall growth of the corporate field in the world. Its main role is to construct functional strategies in order to improve the productivity of the organization. Essentially, performance management is a very broad concept. The HR managers have to look after goal setting, job distribution, progress analysis and a lot more. If all these aspects are taken care of, one can achieve great progress on an individual as well as organizational level.
This concept guides the employees in the direction of professional development. It helps in identifying the barriers that are hindering the progress and plan to work in order to avoid it. The approach is concerned with the setting of processes required for achieved the set goal. This involves strategic planning on the manager’s part. For the benefit of the employee, the company aims to promote his key skills which prove to be good for the development.
Objectives of the performance management approach
As the process of performance management promotes the managers and employees working together, it proves to be beneficial for both the parties. It enables the employees in recognizing their prominent skills and talents. On the basis of this, the managers can assign them tasks which they might be good at and improve the efficiency of the organization. This also promotes a two-way communication between the manager and the employee. Such a direct communication system encourages clarification of job roles and honest feedback at regular intervals.
Though the performance management approach is a very recent concept, experts believe that it will be fruitful on proper implementation. This also ensures that the people involved in the workplace will abide by the corporate values and work accordingly. It also encourages working in synchronization and helping colleagues to improve the efficiency of the workplace.