From the course: HR Foundations: Core Human Resources
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Managing performance
From the course: HR Foundations: Core Human Resources
Managing performance
- Performance management is a kind of compass, one that indicates a person's actual as well as desired direction. Your job as a manager is to indicate where that person is now and to help focus attention on where she should be heading. If done well, performance management provides a clear "line of sight" that links the work that employees do to organizational success, shows them how to perform better, and ensures that they have the resources they need. Organizations with such systems are 51% more likely to outperform their competitors on financial measures and 41% more likely to outperform them on non-financial measures, such as customer satisfaction, employee retention, or quality of products and services. Performance management is hard because it demands daily, not annual attention. It includes three key elements. Define performance, facilitate performance, and encourage performance. Here's a brief explanation of…
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