Graf-Adolf-Str. 25 / 40212 Düsseldorf Germany
Performance Management
Performance Management
Performance management aims to monitor, maintain and improve employee performance in line with an organization’s objectives. It is also the process of continuous feedback and communication between managers and their employees to ensure that the organization achieves its strategic goals.
Strengthening the relationship between the people working in the organization and the value they deliver is a major challenge for Human Resources departments. Performance management is an attempt to maximize this value creation and enable employees to contribute to their business goals. It should be aligned with the organizational strategy and appropriate for the type of business in question.
An organization’s strategic goals should be the starting point for departmental goals, followed by agreement on individual performance and development priorities. Individuals and managers can then draw up plans and monitor performance on an ongoing basis. Feedback and review of progress towards goals should be regular and can be supported by periodic formal performance reviews throughout the year, as well as goal setting, project planning and training.
Why is performance management important?
Performance management supplements the annual performance review. This prepares both employees and managers for what to expect during the annual assessment.
Ideally, it strengthens the links between corporate and individual goals, provides feedback that motivates and helps employees improve, and holds them accountable.
Continuous performance management for employees shows that managers value them. Employees believe that their managers are interested in their work and care about their goals and any problems they may encounter during their work. They also become more open to receiving constructive feedback.
Effective performance management relies on both formal and informal processes. It includes planning; Should it be once or twice a year? Should all departments participate? Should it be 180 degrees or 360 degrees? We will find answers to such questions in the meeting we will hold with you.
