Performance Management – Audax HR Services

Performance Management - FAQ

What is performance management?

Performance management is the process of managing, coaching, developing, and evaluating employees in order to cultivate relationships and create plans for future success.

​What are the components of performance management?

Goal setting, continuous coaching and feedback, and a formal review are all components of the performance management cycle. At the beginning of the cycle, employees and managers meet to set goals for the coming year. Throughout the year, dialogue should occur between managers and employees to determine progress. At the end of the year, managers and employees meet to have a formal review of achievements and areas of opportunity based on the goals set at the beginning of the year.

​What is the purpose of conducting a performance review?

The performance review provides a formal documented account of each employee’s performance during the review cycle. It is an essential component of the performance management process.

​How does performance management link to career planning?

Performance management is the foundation of career planning. Through this process, employees work towards goals that support the needs of the business and their professional development. The purpose is to build relationships and facilitate conversations between employees and managers throughout the year with regards to performance goals, career goals, and career planning.

​Why are performance reviews important?

​Performance reviews help to clearly outline an employee’s performance in an organization as it relates to competencies and goals. Reviews serve as a historical record and are helpful evidencing employee behavior in litigation matters. They provide the employees clear feedback, communication and corrective action when needed.

​When should performance reviews occur?

​Performance reviews within many companies are annual. Some companies have reviews quarterly or monthly. There is not set time period for reviews to occur. The standard is once per year.

​What are goals?

They are assignments, projects, and/or responsibilities for a particular year. They could be routine job responsibilities as well as special projects and/or assignments.

​What is the difference between Performance and Career Development goals?

Performance goals help to define what is expected of you in your current position in relation to the department and/or unit’s overall goals. Career development goals outline opportunities for professional development and/or career growth. Together these goals help us manage and assess the work to be done as well as identify opportunities for ongoing professional growth and development.

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