Performance Management refers to:

• Alignment of individual, departmental and organizational goals and objectives
• Goals, objectives and standards must be SMART, i.e. specific, measurable, realistic with a time limit, and that they are being discussed and agreed upon
• Development goals focusing on skills capability building plan
• Communicating, cascading the set goals and standards
• Providing feedback to staffs regarding their performance, not just at during performance appraisals, but also throughout the year
• Rewarding and recognizing staffs

Performance Management - Goal Setting

Performance Management serves as an important management tool used to monitor and review performance, with the view to address both positive and negative performance variances.  The purpose is so that we can identify the performance gaps and skills deficiencies and to make sure staffs are trained and developed based on targeted requirements.

Performance must be differentiated.  Performance Management can be a mechanism for awarding performance, which can be in the form of monetary rewards or recognition for a good job done.

Performance Management contributes to ensuring overall company performance as performance should be an integral part of management planning and control.  After all, it is the sum of the performance of individuals that deliver team and therefore overall company results.

Over the years, we at PGA Consulting Limited have worked with various companies to design, implement, and train the management and staffs on the use of performance management systems across Asia Pacific.  Performance Management is not a fad.  We believe having the right Performance Management system appropriate for the respective culture will help the company to confront ever challenging time.