Performance Management and Performance Appraisals are different but both play an important role in the retention of talent and the ensuring that the right people are doing the right job to the right standards.
Performance Management is the continuous management of employees and their teams through:
- Setting objectives and expectations in line with the job description
- Reviewing competency for the role in the future
Whilst Performance Management may well set objectives over time, this is a continuously ongoing process.
Performance Appraisals are formal employee assessments. Appraisals are focused on defined objectives which are often linked to remuneration or bonus payments. They are designed to measure quantified work effort annually.
Correct management of both of these processes is important to both the employer and employee. They define the relationship between both whilst underpinning the contract of expectations on the role and the individual. Getting these right will:
- Set agreed objectives and expectations
- Improve employee engagement
- Improve retention rates
- Highlight problems with individuals or roles
- Feed into succession planning and workforce planning
- Determine how best to spend your pay budget
Cadman HR will work with your HR department or management team to plan, implement, apply, manage and review all aspects of Performance Management and Performance Appraisals leaving you free to continue to manage your business whilst knowing that you have a specialist team delivering critical HR functions.