Page 83 - DMGT517_PERFORMANCE_MANAGEMENT_SYSTEM

Performance Management System

Notes The manager and the managee, thereafter, discuss corrective measures needed, actions to be
taken by either or both of them and other help or support needed to accomplish the requisite
tasks and goals.

Task Discuss the performance monitoring system in ICICI bank.

7.5 Summary

Performance monitoring provides scope for modification, change and/or alteration of the
existing performance management system.

Performance monitoring may be defined as the process of appraising an environment
of continuous learning and development, maintaining the employee’s performance,
enhancing individual competencies to make them more productive for the organisation.
Successful business management requires the ongoing monitoring of performance in order
to generate data by which to judge the success or otherwise of specifi c strategies.
Progress in implementing the personal development plan can also be monitored during
the year.
A performance monitoring plan is a critical tool for planning, managing, and documenting
data collection.

Coaching and mentoring seek to bridge the gap between traditional expectations of the
organization and more contemporary approaches.

7.6 Keywords

Performance monitoring: Performance monitoring may be defined as the process of appraising an
environment of continuous learning and development, maintaining the employee’s performance,
enhancing individual competencies to make them more productive for the organisation.
KPI: Key Performance Indicators.

7.7 Self Assessment

Fill in the blanks:
1. Successful business management requires the ............................ of performance in order to
generate data by which to judge the success or otherwise of specifi c strategies.
2. Progress in implementing the ............................ can also be monitored during the year.

3. ............................ explicitly promotes the value that a manager and her managee accept joint
responsibility for monitoring progress on the tasks and goals agreed upon during the initial
performance planning or expectation setting meeting and subsequent review meetings.
4. Improvement in performance can only be realistically achieved when management is
properly informed about ............................ .

5. Performance monitoring identifies areas for ............................ improvement.

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