What is the difference between Employee Performance Planning, Employee Performance Evaluation and Employee Performance Improvement Plans?
Although all influence performance, Performance Planning influences future behavior. Performance Evaluation reviews past performance. Performance Improvement Plans are the last chance to perform prior to termination of employment. Performance management must be measured by all organizations in some manner. Return on investment, stock price, profit margins, etc. are good indicators of past performance. However, to ensure future achievement employers must plan for success through strategic planning and employee performance planning. Performance Management is not new to the 21st Century; in fact it has been a concept of business for over 30 years. Similar to Management by Objectives, it focuses on developing employees to be the best they can be through communication. However, it is not easy to implement. In order for Performance Management to be effective, implementers must be trained to think strategically. Both managers and employees must be trained to understand that the point of perfo
