- "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 and objectives, evaluating progress, and providing feedback to improve performance.
Performance appraisal: The process of evaluating and assessing employee performance against pre-defined standards and goals.
Goal setting and planning: The process of setting clear expectations and goals for employee performance and establishing a plan for achieving those goals.
Feedback and coaching: The practice of providing ongoing feedback to employees on their performance, strengths and weaknesses, and coaching them on how to improve.
Employee development: The process of helping employees acquire the knowledge, skills, and abilities needed to grow and succeed within their role and organization.
Performance metrics and measurement: The use of data and analytics to objectively measure and evaluate employee performance against key performance indicators (KPIs) and other metrics.
Performance improvement plans: The process of identifying areas of underperformance and developing a plan to improve employee performance.
Employee recognition and rewards: The practice of acknowledging and rewarding employees for exceptional performance and contributions to the organization.
Leadership and management: The skills and competencies required to effectively manage and lead employees towards achieving organizational goals and objectives.
Communication skills: The skills required to communicate effectively with employees, peers, and stakeholders to ensure clear expectations and understanding of performance expectations.
Human resource management: The various processes and policies related to hiring, training, and managing employees, including employee benefits and compensation.
Goal-Setting: A process where employees and their supervisor discuss and agree on specific, measurable, achievable, relevant, and time-bound goals that align with the organization's overall objectives, and track progress towards meeting them.
Performance Appraisal: A formal evaluation of an employee's job performance against pre-set criteria, objectives, and competencies, often done annually or semi-annually, to determine rewards, recognition, and feedback for improvement.
Coaching and Mentoring: A collaborative partnership between an experienced, knowledgeable mentor and a less experienced mentee, to develop skills, knowledge, and abilities by sharing advice, guidance, feedback, and support.
360-Degree Feedback: A multisource feedback process that collects input from multiple raters, including peers, subordinates, supervisors, and customers, to provide a more comprehensive view of an employee's performance and development needs.
Performance Improvement Planning (PIP): A structured plan for addressing performance issues or gaps by identifying the causes, setting goals, creating action steps, and monitoring progress towards improvement.
Career Development: A process of identifying the employee's career aspirations, skills, and interests, and providing opportunities for growth, development, and advancement within the organization.
Succession Planning: A strategic process of identifying and developing the organization's future leaders by assessing their potential, skills and competencies, and preparing them for key roles.
Job Rotation: A training and development approach that involves rotating employees through different job roles or departments to provide a broader perspective of the organization and develop new skills.
Performance-Based Pay: An incentive-driven approach that rewards employees based on their performance outcomes, such as sales volume, customer satisfaction, or productivity levels.
Workforce Analytics: A data-driven approach to performance management that uses analytics, metrics, and KPIs to measure and improve the performance of individuals, teams, and the organization as a whole.
- "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."