An overview of the performance management process and its importance

An overview of the performance management process and its importance 

Talent Retention, Corporate Development

An effective performance management process aims primarily at aligning your workforce, supporting employee development, enhancing employee performance, propelling better business results, and ensuring that your organization, its departments, employees, teams, and processes are working towards optimizing organizational goals, all year round! So what are the stages of an effective performance management process? 

In the prerequisites phase, the organization’s mission and desired future position are defined, and the tasks that need to be carried out, the methodologies, the knowledge, skills, and abilities required for each specific job are identified and presented in the form of a job description.

The performance planning phase sheds light on 1) the results that need to be produced by an employee, 2) the behaviors, and 3) the agreed-upon development plan; including areas that require improvement, and goals that need to be achieved in each area! 

An employee has primary responsibility and ownership of the performance execution phase, while the supervisor observes and documents performance daily, provides resources, feedback on progression towards goals, coaching, and opportunities to engage in developmental activities.

The performance assessment phase evaluates the extent to which desired behaviors have been displayed, and desired results have been achieved, while the performance review phase provides a formal setting in which an employee receives feedback on past performance, developmental progress, as well as plans. Last but not least, the performance renewal and recontracting phase are similar to the performance planning phase except for using insights and information from the other phases. 

The performance management process is an ongoing one, because markets, customers’ needs and preferences, and products are never constant!


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