Unless your workforce is talented and skilled, you will not achieve the goals you have set for your firm. Whether you want to make a specific product or another, you can easily do that with the right resources but the big deal is in the quality. This is why assessing the performance of your workforce on a regular basis is very important. To many companies, this is something that is only done at the end of the year. Research has shown that the firms which make performance management to be an ongoing thing achieve the set objectives much faster. Effective performance management means that the employees should be prompted to check out their goals every quarter of the year and if this can be done on a monthly basis or after two months it will still be okay. As the year-end draws near, employees get anxious because it means they will be appraised and the main goal is for the bosses to know whether they will be sacking anyone or not but this is beside the point of performance management. People will not develop their full talents if they are not being given feedback on how they are doing on a regular basis and they lack direction.
Ongoing performance management allows for goal setting and revising. With clear information on what they have to do for the company, coming up with strategies to get there will not be a problem. The exercise gives the workers an idea about the goals the firm has and how their work will contribute in getting the company there. When this is done as a team, the goals every department and individual has will be integrated to make sure there are no overlaps or differences.
Through performance management, the managers will be able to note the employees who need extra help in achieving the set goals. This might require you to assist a team member in making small changes in the goals or training him or her on new skills to make sure the goals are achieved. The appraisal is meant to identify the existing gaps in terms of the skills the employees have. This means the employees should be assisted to develop the skills they are lacking when they are identified instead of being sacked or a promotion declined. The exercise will be more beneficial if feedback is given to the team and extra coaching according.