PERFORMANCE MANAGEMENT

Abstract

There are millions of organizations in the world and more are getting registered every single day. These
organizations can be public, private, small, big, functional, or committee depending on the founder of the organization.
The basic purpose of all these organizations is to earn multiple times than the investment and make their mark in the
world. In order to achieve their purpose, organizations place some selected goals and objectives for themselves and hire
employees who can help them reach and achieve their objectives. These employees work day and night and try to achieve
success. Organizations very carefully select these employees who are very skillful and experts in their area of expertise.
Further, most of the organizations give their employees proper training and development to keep them on track. But, still
this careful selection and proper training does not guarantee that the employees will perform their responsibilities
effectively. In order to keep the employees motivated and enthused in the organization goals and objective, these
employees should be given bonuses and rewards for their hard work. These rewards and bonuses should be specifically
given on the basis of their performance so that the employees will compete with each other and excel in their skills. The
harder and effective the employees perform, the more successful the organization will become. As there are millions of
organizations present in the world, so they are always in competition with each other. Due to this competition, the
organization demands to have effective performance management systems as they are essential for their employees as
well as for their productivity and objectives.