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FAQs - What are the Benefits of Performance Management Systems For Management and Employees

The management of any organization or company are often faced with situations or questions like how to improve productivity, conducting appraisals  improve communication across the organization including getting effective feedback, reduce conflicts, identify performers or non performers, hiring or firing employees, lowering  attrition, retain performing employees, right compensation packages, incentive planning, designing  training and development programs for employees or motivating employees etc.

This is where an effective performance management system plays an important role.

 

At the organization level an effective performance management system helps in

1.       Effective communication across the different organizational structures

2.       Improving employee  productivity

3.       Increase and improve productivity and performance of the organization

4.       Lower employee attrition and  increases employee loyalty

5.       Reducing overall costs, increases profit

 

At the Managers or Supervisors Level an effective performance management system helps in

1.       Better performance and productivity

2.       Designing training and development programs for employees

3.       Improving Team Building and Team Work

 

The Employees an effective performance management system helps in

1.        Goal setting and Achievement

2.       Improves motivation levels

3.       Job satisfaction

4.       Self assessment

5.       Understand Career Paths

6.       Understand job profile and expectations

 

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