Nature of Performance Management and Its Main Components

Subject: Management
Pages: 2
Words: 315
Reading time:
2 min

This is a systematic managerial process that enables organizational managers to effectively engage their employees in productive and efficient techniques. The whole process is therefore aimed at ensuring that the employees efficiently contribute to the realization of the organizational mission and objectives. The main idea here is that the managers establish the performance appraisal and award regulations in order to motivate the employees to increase their output.

Performance management is however subdivided into five major components, the first being the expectation and planning setting component. This enables the management to have a prior plan of how the events and tasks should be undertaken within the organization. All the expectations are synchronized towards attaining the firm’s objectives. The management, therefore, seeks to involve the employees in the planning process in order to help them understand their role in the overall process. The second component is the continuous monitoring process.

This assists the management team in consistently estimating the task performance and addressing them as the task progresses. The third component involves training and development. This advocates for a thorough development and nurturing of the workforce skills and talents in order to boost the performance and competency within the firm. The training and development component prepares the employees for the technological changes that may later come up. The fourth component is the systemic appraisal of the management performance. This is where the organization seeks to determine the best employees and the incompetent or the unsatisfied employees.

The overall rewarding process usually follows the organization’s appraisal program. The fifth and final component involves the rewarding of good performances. At this stage, the firm acknowledges the employee’s efforts and contribution towards the overall goals. Proper rewarding techniques are then advanced to the best employees and measures are also taken to improve the poor employee’s performance.