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Performance Management

Can be defined as the key movers and identifiers in the employee lifecycle which inturn brings a direct output in the the productivity for the company. It is continuos process of improving performance by setting individual and team goals, aligned with the strategic and financial goals of the company.

Steps

  1. Set performance objectives for each position
  2. Make sure they are SMART – Specific, Measurable, Achievable, Relevant and Time-bound
  3. Review meeting every quarter
    1. Check the relevance of goals
    2. Evaluate performance as per set standards
    3. If a goal is no longer valid, evaluate performance, give it a score and close it
    4. Add goals with the expected standards
  4. A final review in March – April
  5. If performance is not upto the set standards consistently, use the performance improvement plan to improve. This can also be used for habitual late coming, performance or attitudinal issues.

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