Performance management is the process of ensuring that a set of activities and outputs meets an organization’s goals in an effective and efficient manner. Performance management can focus on the performance of an organization, a department, an employee, or the processes in place to manage particular tasks.
It is a corporate management tool that helps managers monitor and evaluates employees’ work. Performance management’s goal is to create an environment where people can perform to the best of their abilities and produce the highest-quality work most efficiently and effectively.
