Over the last few years, performance management has become more agile, with many organizations moving away from the traditional approach of annual appraisals.
The benefits of performance management are more important than ever after a year of disruption and adjustment due to the pandemic. Take a closer look at these key benefits and how they can benefit your employees and your business operations as a whole.
Continuous, effective performance management helps foster an open dialogue between employees, management and the company as a whole. This increases trust and ensures everyone feels better supported and more engaged. Without this, employees are more likely to feel detached from their work and its role within the organisation, which is very likely to result in a higher rate of staff turnover.
What is performance management?
Essentially, performance management is the process by which organizations engage with their employees to evaluate their contributions and efforts. An employee performance review is a way of assessing strengths and identifying weaknesses- but more importantly, finding ways to work on these areas so employees can grow and develop. The right performance management approach can help managers get the most out of their teams and allow each employee to thrive at work. These outcomes lead to a happier and more productive workplace.
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