In some ways, performance appraisals and evaluation have just become something that we either look forward to or dread, usually once a year. They have long been accepted as something that is done in business, but many people have no idea why. The importance of performance management goes beyond evaluations, raises, and promotions. It has the propensity to make or break an organization.
Importance of Performance Management
Below are some of the reasons that ongoing performance management is so important to every organization.
1. It Provides a Look into the Future
By consistently monitoring and managing workplace performance, leaders can see potential future problems. Like with any type of issue, early detection is key. The earlier problems are confronted the less effect that they will likely have.
For instance, if the company notices that a certain employee is not a team player, they can either move that employee to a position that does not require teamwork, provide training to that employee revolving around teamwork, or let that employee go before it becomes a problem. By acting before the potential problem becomes an actual problem, the organization can prevent unnecessary trouble.
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