frammistöðustjórnun

Frammistöðustjórnun is an Icelandic term that translates to performance management. It is a continuous process within organizations focused on improving the effectiveness and efficiency of both individuals and teams. The core idea is to align employee performance with the strategic goals of the company.

This process typically involves several key stages. It begins with setting clear and measurable performance objectives, often in collaboration between managers and employees. These objectives should be specific, measurable, achievable, relevant, and time-bound (SMART). Following the establishment of goals, regular feedback and ongoing coaching are crucial. Managers provide support, guidance, and constructive criticism to help employees stay on track and develop their skills.

Performance reviews are a formal part of the process, usually conducted periodically (e.g., annually or semi-annually). These reviews assess an employee's achievements against their objectives, identify areas for improvement, and discuss career development opportunities. The insights gained from performance management are used to inform decisions regarding training, promotions, compensation, and succession planning. Ultimately, effective frammistöðustjórnun aims to foster a high-performance culture, enhance employee engagement, and drive organizational success.