What is Performance Management? Know its importance
Once a professional that the company has chosen already develops his position, he must maintain optimal performance to achieve the expected results at the individual and organizational level. At that time, Performance Management becomes a fundamental aspect to be implemented in the organization.
The University of Houston defines Performance Management as “a philosophy whose value fosters the development of employees through a management style that provides frequent feedback and encourages teamwork.”
Its purpose is to increase the value of the organization through permanent improvement in the performance and development of skills of its employees.
Performance Management seeks the continuous improvement of the results of the organization, teams and collaborators. When it is well implemented, the implementation of the implemented processes and their results are continuously evaluated in order to achieve the organization’s objectives.
All this is done through:
Control of all collaborators of an organization
Elements for successful Performance Management
For a Performance Management system to be successful, it must have, at least, the following elements:
Internal tools and procedures that support the performance of the performance management system.
Employees must know and understand the instruments, objectives and performance standards expected of them in each of the positions held by the organization.
Employees must have the necessary skills to be able to meet the performance expectations that the organization has for them. Otherwise, the company must offer them training and development activities that allow them to acquire or achieve these levels.
The organization must provide feedback on its performance to employees.
Employees must be rewarded in relation to their performance through a formal, standard and clear policy.