Unless your workforce is talented and skilled, you will not achieve the goals you have set for your firm. There isn’t a lot of challenges in productions of given products but you will know whether you have won or not depending on the end product 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 studies have confirmed that organizations which make sure that performance management is done in an ongoing basis throughout the year end up fulfilling their goals earlier than the set deadline and the outcome is usually much better. It is through this process that the managers will have the team go through their goals and make revisions where necessary on a quarterly basis or even more frequent. 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. In cases where employees do not get proper direction and the feedback on their work is scarce, it will be a challenge for them to know their strengths and the weaknesses they should work on.
When there is an ongoing performance management, it will be easier to set goals and revise them if need be. When they know what is expected of them, it will be easier to find a way to get there. Performance management allows the workers to know how they fit in the company as well how their work will help the company to achieve the overall objectives. It is important for the organization to sets goals as a group and also come together when revisions are being done because if they are well aligned from the topmost authority to those at the lowest level it will be easier to divide the work and achieve the goals instead of having everyone do their own thing.
The exercise also helps managers and mentors pick out the team members who will require assistance for them to reach the set target. 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. Therefore, it is of no use to go through this process if there will be no solutions offered in the end. The exercise will be more beneficial if feedback is given to the team and extra coaching according.