The competitive environment in which we operate requires a company to continuously improve productivity and an effective Performance Management System is a key enabler for ensuring a high performance culture within an organization.
The main objectives of a Performance Management System are to
• Align the resources and individual efforts of all employees to the achievement of the company’s goals
• Communicate clear performance expectations to employees in terms of job objectives and behavioral objectives which would support their achievement
• Provide performance feedback
Thus, Performance management systems play a key role that reflect on company results. The company knows the direction in which it is headed and so do all the employees. It also fosters a sense of involvement and accountability from employees which ensures better performance.