Hi,
Are you looking for this to implement in your Organization or it is for basic understanding of PMS?
I would like to give you a background before understanding or if you want to frame some PMS processes....
"
The Performance Management processes vary in each industry, even in current scenario it varies from different levels of organisations in the same Industry.
For example in IT and ITEs , the PMS normalization is set as guidelines while designing the company policies. Those policies may change depending on the organizations's growth.
As you mentioned It is a STRATEGY in Rewarding employee's performance/ Financial planning for any performance period etc...
To clarify in a better way, the following criteria can be considered :
- Type of Industry
- Which level your organization belongs to
-Size and turnover of the company
-Hierarchical structure if available how many levels
-and many more "
Thanks,
Madhu