- Performance management addresses both individual and business performance.
- Successful individual performance will often translate into the business’s strategic objectives being met.
Developmental
Developmental performance management:
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- improves individual performance through establishing objectives
- such as reaching sales targets that are consistent with achieving the organisation’s goals.
- best achieved through year-round periodic feedback
- and shared - empathetic - discussion
- Benefits:
- Assists with HR planning
- identifies training/legal compliance needs
- plan to overcome weaknesses in performance
Administrative
Administrative performance management:
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- assesses the progress of a business in meeting its strategic goals
- and identifying the areas for improvement, where necessary.
- Benefits:
- higher productivity
- better financial performance
- helps assess Rewards and benefits