Organizations can't just hire employees and assume they will do their job. They need guidance, oversight and periodic reviews to let them know what is expected of them, and to make sure they deliver their best performance. Companies that have effective performance management programs increase productivity, identify top performers, and motivate employees to work harder. They can also ensure that their strategic business goals align with hiring and talent development plans. But companies can only achieve these benefits if they approach performance management as an ongoing process rather than a single annual event.