Performance Management Basics

Performance management consists of five components: ‚ÄúPlanning work and setting expectations, continually monitoring performance, developing the capacity to perform, periodically rating performance in a summary fashion, and rewarding.”
Performance management is a corporate management tool that helps managers monitor and evaluate employees’ work. Performance management’s goal is to create an environment where people can perform to the best of their abilities and produce the highest-quality work most efficiently and effectively.
In this module you will define performance management term, identify the components of performance management, and identify the three phase process.