Essay On Importance Of Performance Management
INTRODUCTION
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In this era, an appropriate assessment and evaluation of the business is the key to achieving its objectives. This brings the relevance of performance management. Performance management can be defined as “The process of setting up of objectives and making plans to attain the desired aims or results.” Organisations use this system to measure their employees and organisation as a whole. Which is the longer process of explaining what employees should be doing, connecting of individual performance to organisation needs and evaluating of appraising of performance.
Performance management plays a vital role in each and every organisation which includes proper planning and controlling for the attainment
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Recognising the limitations to effective performance and resolving those barriers through constant observing, coaching and development interventions.
Making a basis for several administrative decisions strategic planning, succession planning, promotions and performance based payment.
Developing personal growth and advancement in the career of the employees by helping them in acquiring the desired idea and skills.
Importance of performance management: Performance Management is essential to Workforce Planning. It is not only the process that promote managers and employees to communicate expectations and outcomes, but more importantly, it makes key data points HR leaders want to determine; such as, how good organizational skill is connected to organizational goals and objectives, and where negatives exist. Without those data points, HR leaders will be unable to predict results and take proactive and corrective action through other skill-related processes like coaching, recruiting and
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