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HomeHomework Helpbusiness-managementPerformance Management

Performance Management

The systematic process of planning, monitoring, and evaluating employee performance, including the use of scorecards, performance criteria, and feedback mechanisms to achieve organizational goals and objectives

intermediate
3 hours
Business Management
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Overview

Performance management is a vital process in organizations that ensures employees are aligned with the company's goals. It involves setting clear objectives, providing regular feedback, and conducting performance appraisals to evaluate progress. By fostering a culture of continuous improvement, orga...

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Key Terms

SMART Goals
Specific, Measurable, Achievable, Relevant, Time-bound goals that guide performance.

Example: Increase sales by 10% in the next quarter.

Feedback
Information provided to employees about their performance.

Example: Constructive feedback on a project presentation.

Performance Appraisal
A systematic evaluation of employee performance.

Example: Annual performance review meeting.

360-Degree Feedback
Feedback collected from various sources, including peers, subordinates, and supervisors.

Example: Using 360-degree feedback for leadership development.

Key Performance Indicators (KPIs)
Quantifiable measures used to evaluate success.

Example: Customer satisfaction ratings as a KPI.

Performance Improvement Plan (PIP)
A plan designed to help employees improve their performance.

Example: A PIP outlining specific goals and timelines for an underperforming employee.

Related Topics

Employee Engagement
Understanding how to keep employees motivated and committed to their work.
intermediate
Leadership Development
Exploring how to develop effective leaders within an organization.
advanced
Organizational Behavior
Studying how individuals and groups behave within organizations.
intermediate

Key Concepts

Goal SettingFeedbackPerformance AppraisalContinuous Improvement