The systematic process that can be employed to improve the overall performance of an organization by enhancing individual performance within the framework of a team is called Performance Management (PM).
This process can be seen as one of the most effective tools for boosting the performance by defining roles within the specified competence framework, setting realistic benchmarks, and communicating various expectations.
It is one of the most complex and comprehensive activities involved in HR. This is because different activities such as continuous progress review, feedback and coaching for greater performance, joint goal setting, regular communication, providing rewards to accomplishments, and implementing employee development programs are included.
According to Louis R. Gomez and David B. Mejia, “Performance management is the process through which managers ensure that employees’ activities and outputs contribute to organizational goals.”
According to Ronnie Malcom, “Performance management may be defined as a planned and systematic approach to managing the performance of individuals ensuring their personal development and contribution towards organizational goals.”
According to Armstrong, “Performance management is a means of getting better results from the organization, teams, and individuals by understanding and managing performance within an agreed framework of planned goals, standards and competence requirements.”