HR Glossary

HR terms frequently used by HR professionals.

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Performance management

What is performance management?

Performance management is a strategic approach to sustaining a high-performance culture through individual development plans, feedback, performance reviews, and additional roles and responsibilities.

What are the stages of performance management?

There are 4 stages in performance management:

Stage 1: The planning stage where team leaders create SMART goals for their teams

Stage 2: The monitoring stage where the progress made per the goals is tracked through feedback.

Stage 3: The reviewing stage where teams’ overall performance is checked to understand what worked and what did not.

Stage 4: The final stage is where the employees are rated on their performance, and suitable rewards are given to keep them motivated.

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