The Purpose of Performance Management
Performance Management links people to performance and profit. It starts by understanding what success looks like for an organisation, and then ensures that everyone in an organisation works effectively to achieve that success.
Driving Results
Purpose - to drive improvement in business results through individual, group, and enterprise goal alignment, measurement, performance coaching and performance information sharing.
A performance management process intended to drive the achievement of key business results is typically designed to ensure that individual, group and enterprise goals and expectations are clearly defined, focused on key priorities, and well connected to the drivers of results.
Formal and informal processes are used for identifying and communicating performance expectations and goals and ensuring goal alignment across group performance goals and measures are developed at several levels in the organisation. This is usually done with some balance between financial, operational and customer-based metrics.
Building Capability
To drive organization and individual capability development by clarifying role-specific goals and competencies, establishing an environment of constructive feedback, and using formal developmental coaching/mentoring.
A performance management process intended to drive capability development is typically designed to help employees understand what they need to learn and how they need to learn it.
Employees are expected to be in a constant growth and learning mode, demonstrating organization and/or role-specific competencies; the bundles of skills, behaviours and knowledge that are critical to the organisation’s ability to execute its business strategy.
Coaching and mentoring programs and processes are used on a formal basis to provide employees with ongoing support as they develop and apply new competencies.
Growing Talent
To motivate and retain high performers by providing career development programs encompassing motivational and reward strategies, challenging work assignments and other on-the-job learning initiatives that will lead to career advancement and ongoing job satisfaction.
A performance management process for identifying and rewarding talent is typically designed to yield a performance assessment that can easily be used to make decisions involving compensation, work assignments, career advancement and/or recognition.
The way in which measures and goals are developed lends itself to differentiating individuals and/or groups.