Any business with employees should have a documented performance management structure in place.
If people are the greatest creators of value in organisations, then good performance management is critical for success.
Employees must understand what’s expected of them, and to achieve those goals they need to be managed so that they’re motivated, have the necessary skills, resources, support and are accountable.
Broadly, good performance management revolves around regular, effective feedback on progress towards objectives.
People managers are instrumental in performance management. Managers need to be suitably skilled and supported by performance management processes that are fit for purpose.
Occasional processes, such as annual performance reviews and pay setting, can be useful, but should not be the main focus.