Unless your workforce is talented and skilled, you will not achieve the goals you have set for your firm. Whether you want to make a specific product or another, you can easily do that with the right resources but the big deal is in the quality. For this reason, you cannot take performance management in your firm lightly because it makes sure you keep people who will help you achieve your overall goal. The bad thing with many companies is that they take performance management as something that should be done only once a year. Research studies have confirmed that organizations which make sure that performance management is done in an ongoing basis throughout the year end up fulfilling their goals earlier than the set deadline and the outcome is usually much better. Effective performance management means that the employees should be prompted to check out their goals every quarter of the year and if this can be done on a monthly basis or after two months it will still be okay. As the year-end draws near, employees get anxious because it means they will be appraised and the main goal is for the bosses to know whether they will be sacking anyone or not but this is beside the point of performance management. In cases where employees do not get proper direction and the feedback on their work is scarce, it will be a challenge for them to know their strengths and the weaknesses they should work on.
Ongoing performance management allows for goal setting and revising. When the company is clear about the specific goals each employee has to achieve in a specific duration, it is not going to be an uphill battle to get results. The exercise gives the workers an idea about the goals the firm has and how their work will contribute in getting the company there. When this is done as a team, the goals every department and individual has will be integrated to make sure there are no overlaps or differences.
Performance management also identifying cases where the employee might need help in reaching the goals they have set. It might be as simple as adjustment of some goals or coaching the employee on a new skill in giving them the ability to achieve their goals. Performance management should pick out gaps in the skills of the employees. This means the employees should be assisted to develop the skills they are lacking when they are identified instead of being sacked or a promotion declined. It is not just the employees who will benefit from the coaching but the firm too and you will be able to know how to coach them for a better outcome.