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Performance Management
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Below is a workable definition of performance management:
Definition: Performance management is the process of planning, implementing, monitoring, improving, and sustaining the efficiency and effectiveness of organisations, teams and individuals.
Who Is Responsible For Performance Management
Performance management is the responsibility of all stakeholders (shareholders, executive management, line management, human resources, unions, and employees).
If developed, implemented, and managed correctly, performance management can be to the advantage and advancement of everybody in the organisation.
An organisation's performance planning typically occurs in four plans:
Strategic plan – performance requirements over the next 3-5 years
Business plan – performance priorities for the next year
Division/department/team plan – the role of these entities in achieving the goals in the business plan
Individual performance plan – what each person (staff or manager) will achieve in the next year.