Main Article Content
Abstract
With the backdrop of increasing layoffs and high attrition rate in today's corporate world, it becomes crucial for us to think of ways to improve the performance of the employees and thereby ensure that it is in par with the organizational objectives. one such ways to achieve the same is performance management.
This paper attempts to examine the methods by which performance of the employees can be enhanced as against the traditional methods of performance management which is inherent with a lot of loopholes. We have tried to counter the issues with revolutionary strategies which are easily adaptable in the face of the dynamic work culture. The strategies so devised aims at bridging the gap between cultural thinking and professional practices which was one of the grave issues of performance management, it helps the manager to mitigate the generational gap amongst the employees and to use it as a leverage in the diverse workforce. The paper also aims at improving the employee experience, it refers to the very first interactions an employee has as a job applicant with the company throughout their continued employment in the organization. It emphasizes on the transition of the rating and appraisal systems from the conventional rating to that of its modern counterpart. The paper tries to give an analysis as to how Artificial intelligence(AI) can be used to improve and enhance the performance of the employees which ultimately leads to the profitability and growth of the organization.