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    What comprises a performance management system? What are the major methods for measuring performance?

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    A Performance Management System enables a business to sustain profitability and performance by linking the employees' pay to competency and contribution. It provides opportunities for concerted personal development and career growth. It brings all the employees under a single strategic umbrella. Most importantly, it gives supervisors and subordinates an equal opportunity to express themselves under structured conditions. Managing this process effectively isn't easy. It calls for a high level of co-ordination, channeled information flow, and timely review. Whether employees are at a single place, or spread across multiple locations, the use of technology can help simplify the complete process for more effective information management.

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    Solution Summary

    The expert determines what comprises a performance management system. The major methods for measuring performance are provided.