Explain the concept of performance management

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Reference no: EM133916777

LEARNING OBJECTIVES

Please explain each objectives? By the end of this chapter, you will be able to do the following:

Explain the concept of performance management (PM). Distinguish performance management from performance appraisal. Explain the many advantages and make a business case for implementing a well-designed performance management system. Recognize the multiple negative consequences that can arise from the poor design and implementation of a performance management system.

These negative consequences affect all the parties involved: employees, supervisors, and the organization as a whole. Understand the concept of a reward system and its relationship to a performance management system. Distinguish among the various types of employee rewards, including compensation, benefits, and relational returns.

Describe the multiple purposes of a performance management system including strategic, administrative, informational, developmental, organizational maintenance, and documentational purposes. Describe and explain the key features of an ideal performance management system.

Reference no: EM133916777

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