What are the specific types of performance management technique(s) present in the instrument? (150 words)
Question
What are the specific types of performance management technique(s) present in the instrument? (150 words)
Solution
Performance management techniques are essential tools used to ensure that organizations meet their strategic goals. One specific type of performance management technique is Key Performance Indicators (KPIs), which quantitatively measure progress towards defined objectives. Another technique is 360-Degree Feedback, where feedback is gathered from multiple sources, including peers, subordinates, and supervisors, providing a comprehensive view of an employee's performance. Additionally, Performance Appraisal Systems are commonly employed, utilizing structured reviews to evaluate employee achievements against predetermined criteria. Continuous Performance Management has gained traction, focusing on regular check-ins and real-time feedback, promoting ongoing dialogue about performance rather than relying solely on annual reviews. Lastly, Objective and Key Results (OKRs) is a framework that aligns individual and team goals with organizational objectives, ensuring accountability and focus on measurable outcomes. By utilizing these techniques, organizations can enhance employee engagement, drive performance improvement, and achieve strategic alignment.
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