Answer:
The following are the key characteristics of performance management:
- Performance management is an important organizational tool to clarify performance objectives, standards, critical dimensions, and competencies to enhance individual performance.
- Performance management works best when an employee’s work is planned and goals for achievement are communicated.
- It emphasizes the development of capability and capacity of employees to perform consistently, coupled with the agility to respond to a changing dynamic business and work environment.
- Performance management is a ‘systematic’ and ‘holistic’ approach to identify critical dimensions of performance.
- It helps in integrating performance management process with other critical organizational systems including leadership development, succession planning, and talent management efforts.
- Performance management is a multidimensional concept and includes imputes, processes, outputs and outcomes.
- Performance management transforms organizational objectives and strategy into a measurable action plan by getting the right information to and from the right people at the right time and in the right format.
