Performance management is one of the main tools used by companies to promote talent among their employees. The objective is to improve team results, motivate employees and enhance their skill set. The importance of this tool lies in the possibility of identifying and retaining this talent.
While improving communication within the organization and the development of employees, allowing them to undergo constant training and establishing goals and objectives.
Diving deeper into the meaning
Once the concepts are understood, it is nice that you are also aware of some more technical definitions, widely used in studies and major works in the area.
Scholars Bititci, Carrie & McDevitt (1997) define performance management as:
A process by which the company manages its performance in accordance with its corporate and functional strategies and objectives.
According to the authors, the objective of this process is to provide an integrated control system, where corporate and functional strategies are implemented in all business processes, activities, tasks, and people.
The feedback is obtained through the performance evaluation system to allow appropriate management decisions. The ultimate goal of this process is to improve the company’s performance.
One of the greatest scholars of organizational psychology:
Performance management is an ongoing process of identifying, measuring, and developing the performance of individuals and teams. And we can mention a Brazilian too since we have big names in this area: Vicente Falconi defines management simply as “problem-solving”.