Business success is built on strong individual and team performance. Performance Management can be practiced in different ways. The traditional method was for the “Boss to appraise the “subordinate”. Many organisations have found the traditional approach very stifling. Instead, Performance Management begins with joint Performance Planning, where the team leader and the team member plan together to achieve the results expected at the corporate level.
This leads to Performance Contracting where the team member agrees to a set of objectives and standards of performance which is supported by the Team Leader.
In this mode of operation, the agreement process is a continuous monitoring of results against the set targets by both the Team leader and Team member. Issues and obstacles to achievement are jointly managed.
Guiding Principles for Performance Management
Individuals will work more effectively and with greater motivation:-
Objective of Performance Management
The major objective of performance management is to achieve the corporate plan objectives and standards set.
The sub objectives of the Performance Management Process are to provide: –
Performance Management is a systematic process that is made up of the following major interrelated components that feed into each other:
Performance Planning and Contracting (Balanced Scorecard approach), involving:
Performance Development, involving the following:
Performance Appraisal and Recognition, involving the following: –