Performance management is critical to ensure that employees are both active and motivated at work. Supervision, defined objectives, and honest feedback are all necessary components of effective performance management.
The (bi)annual performance appraisal is one of the performance management tools. It involves the employee being evaluated by his or her boss. Additionally, 360-degree feedback systems are used to evaluate an employee’s performance by colleagues, supervisors, coworkers, and occasionally even customers. Such tools may be quite beneficial for delivering feedback.
When you use performance management, you’re also able to bridge the talent gap between today’s workers and the ones you desire in the future. Learning and development is one of the finest strategies to establish a strong workforce for the future.