Performance management is basically what organisations do to become more successful and stay ahead of their competitors. Effective and well-planned performance management is worthwhile for both the employers and the employees. It is important to have a structured performance management and tracking process to maintain a high standard for any successful and driven organization. Some of the advantages of performance management are: highlights training needs, boosts morale, helps with identifying the right employees for promotion, helps define career paths, supports workforce planning, increases employee retention, delivers greater employee autonomy, and improves accountability. There are disadvantages too for the performance management system and they are: risk of internal competition, favoritism, expensive and time-consuming, manager's dilemma, unrealistic assumptions etc.

Abhijith S

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