DYNAMICS OF PERFORMANCE MANAGEMENT
Since its actual conceptualisation in the earlier 80s, the issue of Performance Management has gradually but surely undergone a revolutionary change. While the earliest forms of staff performance management focused on, performance management tools, modern approaches have emphasized the need to combine various tools in order to achieve an integrated and coherent performance management system. It is now being widely suggested that regardless of industry and organizational size, while objectives and methods may vary, common trends have emerged regarding the structure of the process, stakeholders involved, objectives and performance criteria. Various aspects of performance and different tasks and responsibilities of course, need variety of treatments as do people according to their different levels of experience, knowledge, capability, capacity and confidence. Usually, the aspects of performance that place the biggest demands on managers, and create the biggest challenges and problems, are those areas concerned with a failure' to perform to a certain standard or target or other such requirements. It makes sense, therefore, to look at managing performance at the level of basic standards and responsibilities. Organizations frequently identify various challenges while implementing performance management systems. These are not insurmountable obstacles, but elements that require the greatest attention and work. If not addressed, they can cause the performance management system to fail. In the light of the above discussion, this paper attempts to throw some light on the impending trends and challenges in the field of Performance Management and then explain certain factors that can actually help organizations reap maximum benefits by installing Performance Management systems.