“The fundamental goal of performance management is to promote and improve employee effectiveness. It is a continuous process where managers and employees work together to plan, monitor and review an employee’s work objectives or goals and his or her overall contribution to the organization.”
A good performance management system should have clear job instruction, well-organized management, effective employee training and good working environment. In order to establish a good performance management system, we have to continuously go through a three stages cycle in which there are plan, monitor and review and evaluate.
In the plan stage, employer and employees have to work together to clarify what the work is, what the employees’ responsibility, what the career development is as well as time frame, production quantity and quality et al. The second stage is more like testing. Employers have to find the obstacles in the work and share feedbacks with employees. Then they have to decide what to do next. In the end, employers and employees have to review the accomplishments that have been done and overlooked issues. Executives have to keep documents for all performance management reports.
Resource: http://hrcouncil.ca/hr-toolkit/keeping-people-performance-management.cfm