Performance Management Cycle
The performance management cycle definition encompasses four main stages:
- Planning
- Monitoring
- Reviewing
- Rewarding
The model traditionally runs on a year-long timeline, ending with a performance review, although various organizations have found that more frequent check-ins will improve employee performance.
One of the benefits of integrating a proper performance management cycle plan is an employee who is more aligned with the goals of the organization, who understands both their objectives and the larger objectives of the organization and has a solid roadmap that will help them achieve their objectives.