- "Business performance management (BPM), also known as corporate performance management (CPM) enterprise performance management (EPM), organizational performance management, or simply performance management are a set of management and analytic processes that ensure activities and outputs meet an organization's goals in an effective and efficient manner."
The process of setting goals, evaluating performance, and providing feedback to improve employee productivity and performance within an organization.
Performance Appraisal: The process of evaluating employee performance against predetermined goals and expectations.
Goal Setting: The process of establishing objectives for employees to work towards.
Performance Feedback: Providing employees with information on how well they are doing in achieving their goals and areas where they need improvement.
Performance Metrics: Measuring and evaluating performance using quantifiable data.
Performance Improvement Plans: Strategies for addressing performance issues and improving employee performance.
Coaching and Mentoring: A process of providing guidance, advice, and support to employees to develop their skills.
Incentive Programs: Rewards and recognition systems designed to motivate and incentivize employees to perform at a high level.
Employee Development: Training and development programs designed to enhance employee skills and abilities.
Performance Monitoring: The ongoing observation and tracking of employee performance.
Performance Management Systems: The processes and tools used by organizations to manage and improve employee performance.
Performance Culture: The organizational culture that supports high performance and continuous improvement.
Alignment of Goals: Ensuring that organizational goals are aligned with employee goals to ensure maximum performance.
Employee Engagement: The level of motivation, commitment and enthusiasm employees have towards their work and the organization.
Human Resource Information Systems: Software systems used to manage employee data, performance data and support performance management processes.
Talent Management: Managing the full range of employee activities, from recruitment and onboarding to performance management and succession planning.
Objective-Based Performance Management: This performance management type focuses on setting clearly defined objectives or goals for employees to achieve. It involves setting specific and achievable targets, monitoring progress, and evaluating performance based on how well the objectives are met.
Competency-Based Performance Management: This type of performance management emphasizes developing the skills, abilities, and knowledge required for employees to perform effectively. It involves identifying the competencies required for successful job performance, measuring individual performance against those competencies and providing feedback on areas where development is needed.
Behavioural-Based Performance Management: This type of performance management focuses on managing employee behavior and attitude, rather than just outcomes or results. It involves setting expectations for appropriate behavior and attitude, evaluating performance based on how well the employee adhered to those expectations, and providing feedback on areas that need improvement.
Results-Based Performance Management: This type of performance management focuses on achieving measurable results or outcomes, using key performance indicators or other metrics. It involves setting targets for specific outcomes, evaluating performance based on those outcomes, and adjusting strategies or processes to improve performance as needed.
360-Degree Performance Management: This performance management type is a comprehensive approach that involves collecting feedback from multiple sources, including managers, peers, subordinates, and customers. It aims to provide a more complete and accurate picture of an employee's performance, strengths, and areas for improvement.
Continuous Performance Management: This type of performance management emphasizes ongoing feedback and coaching rather than annual performance reviews. It involves setting regular check-ins and tracking progress toward goals, providing immediate feedback on performance, and identifying opportunities for development and growth.
Collaborative Performance Management: This type of performance management focuses on aligning individual goals and objectives with organizational goals and objectives. It involves engaging employees in the development of their goals and supporting them with the necessary resources to achieve those goals.
Developmental Performance Management: This performance management type emphasizes employee development and growth, rather than just meeting performance targets. It involves identifying areas where employees can improve their skills, knowledge, and abilities and supporting them with training, coaching, and other development opportunities.
Performance Appraisal: This type of performance management is a formal evaluation of employee performance conducted on a regular basis, typically annually. It involves rating employee performance against specific criteria, providing feedback on strengths and areas for improvement and setting goals for the next performance cycle.
Balance Scorecard: This type of performance management focuses on measuring performance against a set of balanced objectives that includes financial, customer, internal processes, and learning and growth. It involves establishing goals and metrics for each objective, evaluating performance against those goals, and adjusting strategies as needed to achieve balanced performance across all objectives.
- "Also known as corporate performance management (CPM), enterprise performance management (EPM), organizational performance management, or simply performance management."
- "Business performance management is contained within approaches to business process management."
- "Performance management can focus on the performance of a whole organization, a department, an employee, or the processes in place to manage particular tasks."
- "Performance management standards are generally organized and disseminated by senior leadership at an organization and by task owners."
- "Tasks and outcomes of a job, providing timely feedback and coaching, comparing employees' actual performance and behaviors with desired performance and behaviors, instituting rewards, etc."
- "Specialists in many fields are concerned with organizational performance including strategic planners, operations, finance, legal, and organizational development."