Performance Management system and its components

Performance Management system and its components

One of the important components of performance management system composed of the purpose of the job and its aims for each employee in an establishment. Clearly stated job purpose and aims provide employees the chance for career growth in an establishment. Supervisors will also review the routines for performance management system. Well-timed feedback and discussion for areas of improvement is also one of the components of performance management system. This is the stage wherein the employee becomes aware of the things he or she needs to correct and to strengthen to attain the target at a given period of time. An honour for a job well done is also one of the components of performance management because it is a form of motivation that keeps employees aligned to their goal. It can be a financial reward, certificate, a raise or an incentive or it can also be an extra paid rest day. Lastly, refreshers and mentors for non performers is also included on performance management system since it gives an opportunity to those who would like to attain career growth but has lesser skill.