Designing and implementing an effective performance management system for the private and Public sectors

  • CODE
  • COURSE NAME
  • DATE
  • VENUE
Since the era of liberalization, privatization and globalization, attracting potential candidates for a particular job and retaining the key employees in order to have better and highly motivated workforce has become imperative for an organization to be effective and competitive. These days, in an industry, whether small or big, there is a paradigm shift in the roles of human resource management. Besides its traditional roles the HRM has expanded its dimensions to assess its employees’ performance and manage it with the help of well-defined systematical approach that has evolved due to new developments in the field of HRM. This systematic approach is known as PERFORMANCE MANAGEMENT SYSTEM or PMS in short. Performance management is the buzzword and has emerged as a need of the hour for the organizations to excel their competitors. The process of performance management starts when a new employee joins the organization and ends when an employee quits. Performance management is considered to be systematic process through which the overall organizational performance can be assessed, described and improved by improving the performance of its employees.