The Performance Management Cycle
The Performance Management is a process and cyclical in nature, consisting of four critical phases, namely monitoring, coaching, supporting and recognizing employee performance.
1. Monitoring - the performance management policy will be reviewed every two years to assess its effectiveness. Equity and parity of treatment shall be demonstrated by regular reports, detailing rewards, where relevant information is made available. Transparency and fairness shall be monitored and action taken where issues emerge.
2. Coaching - work is interesting and challenging when employees are informed about organizational goals. Recognition shall be given for good performance as well as opportunities for professional development. By employing effective coaching skills, managers shall apply skills like informing, listening, observing and giving constructive feedback.
3. Supporting - the company shall focus on developing employees to meet their full potential. It shall record the development needs of each employee. The aims and objectives of the company shall be aligned to the development needs of each employee, thereby achieving both employee and organizational goals.
4. Recognition - the company shall acknowledge and reward an employee for good performance. This shall be done in the form of appreciation, institution of an award system, promotion as well as opportunities for professional development.