Performance management is the process of managing a company’s performance by ensuring that the set of tasks and activities performed are aligned with the organization’s goals and whether the tasks are performed efficiently. During the process, several objectives are formed and strategies are discussed throughout the year. The communication process includes clarifying expectations, setting objectives, identifying goals, providing feedback, and reviewing results.
The objective of performance management is to create a work environment where employees can perform to their best and produce the highest-quality work most efficiently and effectively. To make sure that the performance management process is going smoothly, organizations use PMS (Performance Management System) that automates the entire processes and streamlines the communications.