Contemporary Human Resource (HR) Challenges - 10
Performance Management (PM) World where we are living is getting more and more competitive and furthermore in order to survive on it, we have to think and work very differently. When it comes to business world, it is even more competitive and that is where performance management (PM) plays a pivotal role as far as competitive word is concerned. Moreover PM is an important HRM process that provides the basis for improving and developing performance and is also part of the reward system too. According to Weiss and Hartle (1997) he further states that performance management is ‘A process for establishing a shared understanding about what is to be achieved and how it is to be achieved, and an approach to managing people that increases the probability of achieving success.’ However when discussing PM, it is also getting connected with word called performance appraisal which can be defined as the formal assessment and rating of individuals by their managers at or after a...