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Company's Absolute Performance Standard

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Romnick Exconde Caguitla
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37 views1 page

Company's Absolute Performance Standard

ESSAY

Uploaded by

Romnick Exconde Caguitla
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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What Is Performance Management?

Performance management is a corporate management tool that helps managers monitor and evaluate
employees' work. Performance management's goal is to create an environment where people can
perform to the best of their abilities to produce the highest-quality work most efficiently and effectively.

A formal performance-management program helps managers and employees see eye-to-eye about
expectations, goals, and career progress, including how individuals' work aligns with
the company's overall vision. Generally speaking, performance management views individuals in the
context of the broader workplace system. In theory, you seek the absolute performance standard,
though that is considered unattainable.

How Performance Management Works

Performance-management programs use traditional tools such as creating and measuring


goals, objectives, and milestones. They also aim to define what effective performance looks like and
develop processes to measure performance. However, instead of using the traditional paradigm of year-
end reviews, performance management turns every interaction with an employee into an occasion to
learn.

Managers can use performance management tools to adjust workflow, recommend new courses of
action, and make other decisions that will help employees achieve their objectives. In turn, this helps
the company reach its goals and perform optimally. For example, the manager of a sales department
gives her staff target revenue volumes that they must reach within a set period. In a performance
management system, along with the numbers, the manager would offer guidance gauged to help the
salespeople succeed.

Why Performance Management Matters

Focusing on continuous accountability creates a healthier, more transparent work environment, and


emphasis on regular meetings can improve overall communications. Because performance management
establishes concrete rules, everyone has a clearer understanding of the expectations. When
expectations are clear, the workplace is less stressful. Employees are not trying to impress a manager by
doing some random task, and managers aren't worried about how to tell employees that they are not
performing well. If the system is working, they probably know it already.

KEY TAKEAWAYS

Performance management tools help people to perform to the best of their abilities to produce the
highest-quality work most efficiently and effectively.

The precept of performance management is to view individuals in the context of the broader workplace
system. 

Performance management focuses on accountability, transparency, and fosters a clear understanding of


expectations.

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