What is a performance management system, and what are the different types of PMS methods?

Question

Accepted Answer

Performance management system (PMS) is a process of setting goals, monitoring progress, and providing feedback to employees.

PMS helps in aligning individual goals with organizational goals
Types of PMS methods include 360-degree feedback, rating scales, and management by objectives
360-degree feedback involves gathering feedback from multiple sources including peers, subordinates, and supervisors
Rating scales involve evaluating employees on a set of predetermined criteria
Management by objectives involves setting specific, measurable, achievable, relevant, and time-bound goals for employees
PMS helps in identifying areas of improvement and providing opportunities for employee development

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