Many companies today do not share the strategic direction with the different teams and employees within the organisation. The business environment is extremely competitive in today’s market. It is important to have the edge on competitors and to assist with this we need to share the strategic direction of the company with our employees:
Below is an overview of a very successful Performance Management System:
- The overall objective of Performance Management is to improve organisational performance!
- Performance Management is a process by which teams and individuals are empowered to perform their roles, in support of the business strategy and goals.
- When employees understand the business direction and are able to see their roles in the context of the broader company strategy and performance criteria, then morale and productivity are likely to be enhanced.
- The Performance Management process involves the translation of strategies and plans into team and individual goals thereby cascading the strategy and plans throughout the organization.
- Ongoing formal and informal review of team and individual performance is then measured in an objective, constructive and structured manner.