Performance Management – Important for the success of your organization Performance management is a buzzword nowadays and is the key requirement in today’s time of cut-throat competition and the organizational war of leadership. It is a much wider and a difficult function of HR as it involves activities such as continuous progress review and regular communication, execution of employee development programs, joint goal setting, feedback and coaching for improved performance, and rewarding achievements. Performance management in an organization involves activities which make sure that objectives are constantly fulfilled in an efficient and effective manner. It mainly focuses on the performance of the department, organization, employees, or even the processes of production which produces the service or product, along with many other areas. It is also called as a process by which the organization line up the systems, resources, and employees to strategic goals and priorities. If your organization is wishing for the success, then you need the process of performance management.
Objectives of the performance management in the organization 
To drive the employees and the management to take actions
To make the organization’s performance visible
To provide feedback on the effect of the actions for taking corrective measures in a timely fashion
Key features of the performance management Timeliness – The time period during which the work requires to be finished. The way of performance – It defines the situations under which the performance needs to be attained. These situations are challenging in nature so that the employees can get the motivation to perform. Quantity – It determines how much work needs to be completed within a specific period of time. The efficiency of the effort – Effort is important for achieving the performance. However, needed effort require to be put without any wastage for effective performance. Quality – It specifies how well the work must be achieved such as its precision, effectiveness, accuracy, appearance, etc. Process discipline – Performance is to be obtained following safety norms, rules, and procedures and without violating the process discipline. Effective use of the resources – Resources should be utilized in an effective way as it is important for productivity and efficiency. Well, it’s important to manage the performance of stakeholders for your organization success. And it can be easily done with the help of performance management consultants of a wellknown firm like Group50. They have developed the performance management assessment that emphases on the business processes and methods a company uses to manage its stakeholder’s performance that includes employees, contract workers, leadership, suppliers, and teams. After performing the performance management assessment, this organizational development consulting firm will offer a gap analysis of the methods used by a company to raise the performance of its stakeholders and provide a set of suggestions and a roadmap on how the organization can essentially improve the efforts of their performance management. To get more information about the assessment, you can contact the consultants of Group50. Visit: www.group50.com