Is a systematic process of evaluating and managing employee performance in order to achieve the best outcomes for a business PERFORMANCE MANAGEMENT

 Evaluating an individual’s performance  Using that information to develop the individual OBJECTIVES

 Identify oppourtunities for productivity improvement  Assess legal compliance  Justify staffing decisions  Identify training and development needs  Provide feedback and recognition  Assess performance against organisational standards VALUE OF PERFORMANCE MANAGEMENT

 Focused on using data to develop the individual skills and abilities of employees  This improves effectiveness in employees roles, overcome weaknesses and prepare them for promotion  Achieved through year-round feedback and shared discussion DEVELOPMENTAL

 Focus is on collecting data to manage the HRM more efficiently  Provides information which can be used by HR to plan functions such as  Training  Development  Rewards  Pay levels  Benefits  Performance Improvement ADMINISTRATIVE

 Assists with HR training  Overcome gaps or weaknesses in performance  Shows effectiveness of current selection processes  Identifies training and development or legal compliance needs  Evaluation of rewards and benefits program  Communicates expectations, helps build trust, promotes long-term organisational development  Helps identify, motivate and retain talented staff for leadership succession  Identifies and documents poor performance  Helps build best practise culture BENEFITS OF EFFECTIVE PERFORMANCE MANAGEMENT (BUSINESS)

 Comparison of contribution to organisation and performance against agreed standards  Helps assess rewards and benefits linked to performance  Builds self-efficacy as contributions recognised – important in motivation and retention  Identifies strengths and weaknesses  Creates oppourtunity for employee to provide feedback  Initiative recognised and rewarded  Fosters promotion on merit  Employee focus is aligned with organisational strategy BENEFITS FOR THE INDIVIDUAL

 Clear job descriptions  Match people with right skills  Mutually agreed goals  Effective training  Regular and constructive feedback  Oppourtunities for internal promotion  Recognise and reward employees for achievements  Use employee surveys and feedback EFFECTIVE PERFORMANCE MANAGEMENT

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