Whether you have invested in the best technology and equipment or not, the level of skills your workforce has will determine whether you will achieve the mission and vision you have for the organization or not. Whether you want to make a specific product or another, you can easily do that with the right resources but the big deal is in the quality. This is why assessing the performance of your workforce on a regular basis is very important. The bad thing with many companies is that they take performance management as something that should be done only once a year. Research has shown that the firms which make performance management to be an ongoing thing achieve the set objectives much faster. It is through this process that the managers will have the team go through their goals and make revisions where necessary on a quarterly basis or even more frequent. Many people dread it because it is used to determine those who will be sacked and those who will be put on probation but this is not the reason why performance management exists. In cases where employees do not get proper direction and the feedback on their work is scarce, it will be a challenge for them to know their strengths and the weaknesses they should work on.
When there is an ongoing performance management, it will be easier to set goals and revise them if need be. When the company is clear about the specific goals each employee has to achieve in a specific duration, it is not going to be an uphill battle to get results. The exercise gives the workers an idea about the goals the firm has and how their work will contribute in getting the company there. It is important for the organization to sets goals as a group and also come together when revisions are being done because if they are well aligned from the topmost authority to those at the lowest level it will be easier to divide the work and achieve the goals instead of having everyone do their own thing.
The exercise also helps managers and mentors pick out the team members who will require assistance for them to reach the set target. Sometimes it might just be some tweaks in the goals set or coaching of new skills. Performance management should pick out gaps in the skills of the employees. This means the employees should be assisted to develop the skills they are lacking when they are identified instead of being sacked or a promotion declined. The exercise will be more beneficial if feedback is given to the team and extra coaching according.