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Performance management has taken on many meanings and varieties. In the PMIA context, it applies to the process of setting and monitoring measures and objectives for employees, managers and executives. It is a closed loop process meaning that objectives are constantly reviewed and performance diaries are maintained by the employee and manager, which detail ongoing successes and challenges. At review time, the diary entries and objectives are all weighed up in assessing performance and success or failure. In this, employee performance management is a continual development and improvement process. Automating this process yields reports which provide immediate visibility of performance across the entire organisation, something which is simply not possible with paper based processes.
Likewise, automation makes it possible to see how many employees and managers actually use the system, a measure of compliance, and again, this is almost never visible with manual or paper based systems.
This is in contrast to performance appraisal, which is a process not requiring objective setting. Appraisal is usually applied where organisations are not ready to impose "hard" measures or objectives.
In contrast, performance management has now been applied to corporate governance, operational risk management, sales management and many other fields of endeavour or organisation functions where it is critical to set and monitor objectives on an ongoing basis.
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