Nexus India HR Services LLP

Performance management system overview

A performance management tracks the performance of employees in a manner that is consistent and measurable. The system relies on a combination of technologies and methodologies to ensure people across the organisation are aligned with – and contributing to – the strategic objectives of the business. The process is collaborative, with managers and employees working together to set expectations, identify employee goals, define performance measurement, share

employee performance reviews and appraisals, and provide feedback. When properly defined and consistently applied, a Performance Management system increases overall workforce productivity. Employees are more invested in their work and turnover is minimized while revenue per employee is maximized. A performance management system tracks the performance of employees in a manner that is consistent and measurable.

What are the key elements of a performance management system?

Three key processes in a performance management system:

KRA: Plan and Act with goal management
KPI: Monitor with continuous performance management
Measurable: Evaluate and recognise through performance assessments

A performance management system relies on three key processes:

1. Plan and act with goal management

Align employee performance to the objectives of the organisation.
Quickly adapt goals when business priorities shift.
Assign work that is meaningful and fulfilling to increase employee engagement.

2. Monitor with continuous performance management

Monitor the goals of each employee to ensure ongoing alignment with organisational goals.
Provide feedback and guidance to improve performance.
Recognise good results as they happen.

3. Evaluate and recognise through performance assessments

Assess performance consistently and accurately.
Recognise and reward strong performers.
Use data-driven insights from the system to quantify the value your workforce delivers to the business

What are the three stages in a performance management cycle?

There are three stages in the performance management process

Plan and act with goal management.
Monitor with continuous performance management
Evaluate and recognise through performance assessments.

We at Nexus India HR Services can provide the process is collaborative, with managers and employees working together to set expectations, identify employee goals, define performance measurement, share employee performance reviews and appraisals, and provide feedback. By properly defined and consistently applied, a Performance Management system increases overall workforce productivity. Employees are more invested in their work and turnover is minimized while revenue per employee is maximized.