- "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, providing feedback and evaluating employee performance to ensure that individual and organizational goals are met.
Performance Appraisals: A systematic process of evaluating an employee's performance based on predefined criteria, KPIs or goals.
Goal Setting: The process of defining objectives and targets for individuals and teams to achieve better results.
Performance Metrics and KPIs: A set of quantifiable measures that determine how well an organization is achieving its goals, objectives and targets.
Performance Improvement Plans (PIP): A formal plan developed to help employees improve their performance and meet the organization's expectations.
Performance Feedback: The process of providing constructive feedback or observations to an employee after a specific task, project, or over a given period.
Employee Development: A structured process of improving an employee's skills, knowledge and experiences necessary to perform their job duties or advance their career.
Performance-based Compensation: A compensation system that rewards employees based on their level of performance or achievements.
Performance Incentive Programs: A program designed to motivate employees to work towards achieving specific performance goals, which may include financial, non-financial or recognition-based incentives.
Employee Engagement: A measure of an employee's emotional commitment and dedication to their organization and its goals.
Organizational Culture: The collective values, beliefs, attitudes, behaviors and practices that characterize an organization's work environment.
Performance Management Tools and Systems: Various tools, software and applications that assist in managing and tracking employee's performance and goals.
Talent Management: The process of attracting, identifying, developing and retaining high-performing and high-potential employees.
HR Analytics: The use of quantitative methods and statistical models to analyze data on employee performance, productivity and engagement.
Succession Planning: The process of identifying and developing future leaders or successors to key positions within an organization.
Performance Consulting: The practice of identifying gaps or issues within an organization's performance and developing solutions to optimize performance.
Strategic Performance Management: This type is related to aligning the performance of employees with the overall goals and objectives of the organization. This type of performance management highlights the need for employees to understand the organization’s objectives and their role in achieving them.
Individual Performance Management: This form of performance management emphasizes the need to measure individual employee performance. This type of management ensures that there is a consistent measurement of performance across the organization.
Competency-based Performance Management: Competency-based performance management focuses on identifying the required competencies for a particular position and then evaluating an employee’s performance based on their ability to display these competencies.
360-Degree Performance Management: This type of performance management involves feedback from a variety of sources, including managers, peers, customers, suppliers, and employees themselves. This type of management provides a comprehensive view of an employee’s performance.
Continuous Performance Management: This form of performance management involves a continuous evaluation of an employee's performance. It requires regular feedback and coaching throughout the year rather than only during annual performance reviews.
Behaviorally Anchored Rating Scales (BARS): BARS focuses on identifying the behavior and skills that employees need to perform their job successfully. Employees are rated on these specific behaviors and skills, which allows for a more objective assessment of performance.
Result-based Performance Management: This form of performance management evaluates an employee based on the results they have achieved, rather than their effort. This type of management is common in sales and marketing roles.
Quality-Based Performance Management: This type of performance management focuses on the quality of an employee's work. Quality is assessed based on customer feedback, feedback from peers, and the employee's own evaluation of their work.
Goal-Oriented Performance Management: Goal-oriented performance management sets specific targets for employees to achieve over a period. This type of management helps increase motivation and encourages employees to work towards a specific objective.
Key Performance Indicators (KPIs): KPIs are a set of quantitative measures predetermined by the organization to gauge employee performance. Measuring performance using KPIs helps in quantifying employee contribution towards organizational goals.
- "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."