The need for Performance Management

Organizations profit and loss statements are dependent on their revenues and in turn on their performance. Performance in the simplest terms can be defined as the execution of work of all kinds that exist in the organization. If the execution is carried out well then there is a rise in the performance and vice versa, so the need to measure performance becomes highly critical.

Having given the theoretical explanation, the psychological explanation goes as follows. As humans, we all expect feedback for the work we do. This holds good for any scenario. When associated with an organization, we expect to hear from the experts that we are on the right or wrong path, the next course of action if any, on the associated perks or rewards. In this bargain, the organization also gets to identify the high, medium and low performances. This helps create hierarchy and balance in the system.

The need for a performance management is thus very high in any organization/any context. Though there are tried and tested methods of measuring performance, the current workforce demands more, rather then a yearly or half – yearly performance reviews. In the era of social networking, employees look forward to being constantly fed with information on how they are performing. Reviews have to cease becoming once a time affair and continue being an ongoing one.

Performance, though as I said in the first few lines roughly means execution, it involves a lot of stakeholders in current scenarios. Thus, feedback cannot be only from the supervisors, there are lot of people involved whose inputs should also be considered. Performance need not always be directly proportionate to monetary terms, there needs to be innovative methods of keeping the motivation high of an employee.

The need is justified, the means are existing, what remains is the adaptation to the changing scenario.

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