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Performance Management. The question will be in the order instructions box with some instructions
Finance & Accounting
Pages 5 (1255 words)
PERFORMANCE MANAGEMENT By Name Course Tutor’s Name Institution 20th, February, 2012 The process of performance management is important to organizations, and therefore, the management should be sure to incorporate this process into their organizations for increased productivity…
Therefore, the system of performance management generally involves evaluating and developing the skills, behaviors, and the performance of individual employees, for ensuring that the organization competes favorably in the market through its high performance. Performance management is used as a measuring and management instrument of employees in the organization. This process mostly benefits the big international companies, and those companies, whose workforce is greatly distributed. As a process, performance management comprises different types of activities aimed at achieving the objective of the general process. These include reward and remuneration for employees, coaching and mentoring of employees, team working, measuring, competencies, and personal development plans, among others. Today, performance management is characterized by various changes, as the way it is approached today differs with how the process was approached in the past centuries. The changes in performance management today have contributed to its increased efficiency, and help organizations retain their high-performing employees. ...
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