Performance management is a much broader concept than performance appraisal or a disciplinary process. It aims to improve organizational, functional, team and individual performances. Effective performance management measures the progress being made towards the achievement of the organization’s business objectives. So, performance management is one of those things if done well can bring excellent results to organizations. However, there are certainly challenges in this area.
An important component of developing a comprehensive and well executed performance management system is to manage under-performance. The components of the performance management system provide holistic framework within which managers and employees operate in.
So, take all the necessary action now to developing a well-executed performance management system. Organizational Change is the current inevitable trend that will help you to take your business to a whole new level.