Asian Journal of Management

Performance management is the process of assessing progress toward achieving predetermined goals. It is building on that process, adding the relevant communication and action on the progress achieved against these predetermined goals. Performance management system enables a business to sustain profitability and performance by linking the employees’ pay to competency and contribution. It provides opportunities for concerted personal development and career growth. It brings all the employees under a single strategic umbrella. Most importantly, it gives supervisors and subordinates an equal opportunity to express themselves under structures conditions.