Performance management
Definition
Performance management (PM) includes activities which ensure that goals are consistently being met in an effective and efficient manner. Performance management can focus on the performance of an organization, a department, employee, or even the processes to build a product of service, as well as many other areas. PM is also known as a process by which organizations align their resources, systems and employees to strategic objectives and priorities.
Description
In some literature performance management is defined as the process of establishing performance expectations with employees, designing interventions and programs to improve performance and monitoring the success of interventions and programs. It is a comprehensive process that involves various activities and programs designed to improve performance. (Source: Saks, A. and Haccoun, R., (2010), Manging performance through training and development, 5th ed. Toronto: Nelson Education Ltd.)
Performance management is comprised of a set of performance indicators, metrics, key performance indicators, or key success factors. These terms can be used interchangeably.
