What is Performance Management?

Performance management is a strategic approach to develop and sustain improved performance in employees.

Here are some common goals of performance management:

• Creating and identifying individual objectives/goals
• Achieving strategic objectives for the organisation
• Providing feedback
• Improving performance
• Holding people accountable
• Reviewing results
• Rewarding and recognising

When executed correctly, performance management has the potential to assist businesses in fostering a culture of continuous growth and development, ensuring that employees are actively engaged and flourishing in their respective roles.

Performance management is important for businesses as it can improve productivity, set clear expectations, promotes continuous feedback, and highlights development. It can also help to align both the goals of the business as well as the individual’s goals.

People want to develop professionally and advance their careers, so many seek a genuine commitment from their workplace to help them. In 2019, 94% of employees said they would stay at a company for longer if their employer invested in their development.

Performance management is highly effective when implemented properly. Its effectiveness depends on various factors, such as the design and implementation of the performance management system, the commitment and involvement of managers and employees, and the alignment of performance goals with organisational objectives. When done right, performance management yields several benefits.

To build a high-performing culture, you need a high-performing system.

Perform is a simple and user-friendly platform that engages employees and managers, giving you full visibility of performance across the business.

Let’s take a look at some of the key features:

• Link individual performance goals with global objectives
• One central system for all conversations (formal and informal)
• Flexible reviews, whether in-person or remote
• Customisable review templates
• Unique review forms to manage complex performance 

And it doesn’t just stop there. An effective system lets you bring your L&D and performance management together seamlessly – joined at the hip, if you will.