In professional life, performance briefly states the goods or services obtained by the employee as a result of achieving targets and objectives of the workplace or the job.
An employee’s performance is mainly linked to three variables:
Skills, knowledge, and experience that an employee needs.
Physical conditions and equipment that are necessary.
The effort, labour, and desire to achieve work expected from the employee.
According to Adam Smith (18th century), “There are three main reasons to explain why the division of labour concept is more successful than the others.” The first one is the development of hand skills, knowledge, and experience for a job. The second one is the correct and effective use of time, and the last one is machinery and equipment to facilitate the job.
Although today’s professional life has a significantly different structure than the first years of the Industrial Revolution, it is not incorrect to say that employee success and performance are still linked to the same parameters.
Performance management is one of the tools for obtaining better results from the entire company components such as company resources, financial structure, and employees.
Performance management aims to improve employee motivation and skills, consolidate the sense of belonging and responsibility, and increase company efficiency and success.
If we take it more comprehensively, performance management can be listed under three main titles:
Salary, promotion, transfer, termination
Career planning, training, development, guidance, counselling
Job satisfaction, motivation, identification of targets
The purpose you choose defines your performance management strategy you will apply in your company. When planning a strategy or selecting a management method, your performance evaluation tools determine what to consider and under which conditions you will measure the results. These are the two elements that support each other.
If you want to explore more about performance management, download our latest e-book, Performance Evaluation 101 for free.
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