Performance management is the process of identifying employee objectives and regularly evaluating how well employees perform in meeting those objectives. This is a basic type of management due diligence that supports processes such as compensation, compliance, employee retention, promotions and employee development.
Strategy ImplementationPerformance management is a basic method of strategy implementation and control of factors such as productivity. Each employee in a hierarchical organization typically develops a set of objectives that align to business strategy together with their manager. Managers are responsible for the performance of their direct reports and accountable to the performance of their indirect reports.
Policy & ComplianceRegular reviews of performance also serves as a tool for policy implementation in areas such as professional conduct, organizational culture, compensation, employee development programs, training and employee relations.
The process of identifying objectives and continually evaluating how well employees perform in meeting those objectives.
Some definitions of performance management include the evaluation of processes, systems and other non-human elements. This is reasonably rare in practice as such evaluations are usually considered optimization, process improvement or business metrics.
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