These days a lot of importance is given to the word Performance Management in the corporate companies especially as they use it as one of the strategies to improve the productivity of the company. Some find this to be a complicated process as there is no specific indication of what this process deals with. Does it deal with some product / service or some department or employees or anything else? To remove all these confusions, let us get a brief idea about what exactly is the process of Performance Management.
Performance Management is the process which provides a chance to both the manager and the employee to sit together and determine the overall goals of the company as well as the individual goals so that the performance of the employee improves. This will in turn help the company to enhance its productivity. This is a very effective step taken by any company as it allows the management to give its employees an outline of how they are performing and which are the areas they will have to improve. This process makes it clear for both the employers and the employees of what has to be done. If the employees do work up to the mark then they can be appreciated by this process so that it can be a morale booster to the employees and help them to work even better. Many individuals working in that company will shine when given the tools and freedom with guidance to explore their own potential. Performance Management is given quite an importance in a safe environment where mistakes are seen as positives, people grow way beyond expectations as they explore their own possibilities and work for the development of the organization, which implies that there is an individual improvement too. Some perks here and there, a word of appreciation when people achieve their short term goals would improve the relationship between the manager and the employee resulting in creation of a positive environment. This shows that the effort put up by people is noticed which includes all the little changes they made to see the growth in their performance as a result of which, the manager gets an opportunity for winning the heart of his employees which is profitable for both the organization and the individual too. As a manager, you may hardly find time to spend with your employees. Spend some time around for throwing some light on enhancing the skills of the individuals, which would lead you out with fruitful results of overall development.
We can see that most of the company’s development and achievements are just because of the little care taken by the company in nurturing them on Performance Management. If right guidance, and provision of proper training resources, and opportunities to mark their performance, are provided to the individuals then am sure, they would love to work for that company for the rest of their life’s, resulting in a healthy development of an organization. What more do you wish to see that people love to work for your company with an enormous confidence towards success and make it stand out from rest of the organizations!