PERFORMANCE MANAGEMENT SYSTEM
sometimes referred to as a PMS, is the process that a company uses to appraise and recognize its personnel. A company with a properly executed performance management system can improve employee morale, increase productivity and retain its top workers.
But why do you need PMS?
- It helps to measure performance
- See if what you are paying is more or less
- Understand how your Company performed in the last year.
- Review your HR Practices.
- Appraisals for your Employees
- And be one step ahead in your next year planning.
What happens in PMS?
- Evaluate your employee performance
- Conduct job analysis
- Audit your HR
- Review the current system
- Review the Compensation and benchmark the same.
But when should one get it done?
A proper PMS takes time to deliver depending on the employees you want to evaluate. The longer you delay, the more you dive into the darkness of performance. So the answer to that is getting it done Right now! A full-fledged PMS takes time and once properly implemented it helps to make evaluations and management that easier.