At GNC, Performance Management includes goal setting and assignment, goal tracking, interim and final assessment, action and feedback processes. The aim is to generalize the goals set in line with the company’s strategies among all management levels, manage employee performance objectively in the frame of joint principles, and raise the level of performance to the highest degree.
In performance management, primarily the company’s strategic goal is set. Then, the goal is assigned to all levels of management. At the beginning of the year, managers and employees convene to set goals for employees for the year. Goal attainment is monitored throughout the year and corrective actions are taken in accordance with the relevant feedbacks.
Yearly performance evaluation plays an important role in determining the pay scale for the coming year. This performance management system allows one to set company goals for employees, monitor employees’ level of goal progress and attainment, award employees, identify employees’ competence and create an action plan based on planning their personal development.