Performance management is a systematic & strategic mechanism to ensure the performance of employees.
Performance management and performance appraisal are often used interchangeably.
The process helps companies to produce high-quality products as well as services, which results in improved customer satisfaction.
Additionally, it helps companies to acquire their goals and objectives without much effort.
Performance management also builds an effective working environment for employees, thereby helping them to put their best foot forward in the long run.
Here are the processes involved in a performance management process:
The performance management process ends when an employee leaves the company.
Also, See: Performance Management Cycle
Solving Real Business Challenges with a Robust & Impeccable System