Performance Management monitors performance across the organisation with the goal of improving business performance. What that improvement looks like depends on the strategy and goals of the organisation. This makes performance management a framework that the organisation must take and customise for itself. A combination of methodologies and metrics allows organisation to define, monitor and optimise action to achieve organisation goals and improve performance.
Performance management requires comprehensive, real time visibility of performance across the organisation. Comprehensive means a variety of perspectives – strategic perspectives, departmental perspectives, time-based perspectives and performance perspectives. Once the strategy is defined, objectives made clear and key performance indicators (KPIs) set, the task on monitoring and improving strategic performance is a cycle that never stops. Performance management software makes the task of managing performance easier.
Great performance management software:
- Illustrates how employees contributes to the success of the organisation by linking their personal goals and achievements with the organisation’s mission, strategy and objectives.
- Helps employees know what needs to be done to be successful by focusing attention on clear goals.
- Gets staff involved with actually managing performance, not just monitoring, with clear lines of responsibility and ownership.
- Focuses departments on what needs to get done and provides a solid rationale for eliminating unnecessary work through the use of objectives, policies and performance metrics.
- Enables the organisation to quickly identify problems and change course through on-going monitoring and discussions.
- Shifts focus from performance as an annual event to an on-going process.