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Individual performance management systems, which offer employees and managers an opportunity to identify strengths and weaknesses in their performance and to establish new directions for improvement, imply following 6 key steps in order be properly implemented.
Negative side effects produced by the target-setting process include a rise in unethical behavior, a practice whose incidence has increased recently times. Unethical behavior, according to The KPI Institute, represents the process of influencing results through unapproved means in order to ensure target achievement.
Having an efficient strategy is one of the key factors that defines organizational success. It should facilitate the fulfillment of strategic objectives, by ensuring that plans are implemented within the required timeline and are meeting their goals. A variable pay system should be implemented in order to ensure that employees are paid adequately based on their capabilities and to provide its staff with a clear message regarding what the company deems important.
Integrity and ethics play a key role in organizations nowadays, due to the fact that they determine employee behavior. These factors are usually dictated by the company’s values and the major aim is to induce a fair conduct within the workplace, as well outside the company.
Performance appraisal is a process applied by organisations in order to evaluate and review performance at team or individual level. This type of review is generally scheduled to be performed once a year within the organisation and it is usually carried out by the employee’s direct managers. Its purpose is to identify employee training and development needs, and ultimately improve individual performance.
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