What Is the Purpose of Performance Management?

Answer

Managing Performance is the procedure of evaluation of progression, of an establishment, towards a desired goal. The purpose of performance management is to ensure accomplishment of business objectives and to increase the strength of the employees.
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Performance appraisals let the management categorize its employees into performers and non-performers. The management rewards and compensates the performing employees with pay hikes
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1 Additional Answer
Performance management's main goal is to drive improvement in business results through individual, group and enterprise goal alignments. It links people to performance and profit and then ensures that everyone in an organisation works effectively to achieve success.
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