The Importance of Implementing Performance Management System in Romanian Firms

Madela Maria Abrudan and Dorin Coita
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Dorin Coita: University of Oradea

Annals of University of Craiova - Economic Sciences Series, 2008, vol. 3, issue 36, 1204-1210

Abstract: To understand the importance of Performance Management (PM) we can start from the answers to the question: What distinguishes the “best” companies \ from the rest? Many writers and consultants are using the term “performance management” as a substitution for the traditional appraisal system. Performance management is the process of creating a work environment or setting in which people are enabled to perform to the best of their abilities. Performance management is a whole work system that begins when a job is defined as needed and it ends when an employee leaves your organization. Within such a system, feedback to each staff member occurs regularly. Individual performance objectives are measurable and based on prioritized goals that support the accomplishment of the overall goals of the total organization. The vibrancy and performance of the organization is ensured because it focuses on developmental plans and opportunities for each staff member.

Keywords: performance management; organizational culture; people growth (search for similar items in EconPapers)
JEL-codes: L00 L25 M00 M11 (search for similar items in EconPapers)
Date: 2008
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