Published Paper Details:

In this era of utmost competition, one among the strategies to be a successful organization is to draw in potential candidates for any particular post and retain the key employees to have a better and highly motivated workforce.So what is the requirement of an organization and managers to attract, retain and motivate a talented workforce? Nowadays, In any industry whether small or big, human resource management not just play its traditional role as such but has expanded its dimensions to assess its employees' performance and manage it with a new system that has evolved due to new developments in the field of HRM known as Performance Management System (PMS). It elaborates how the organization aligns the performance management system with the organizational system and articulates the corporate business objectives to the individual goals. This paper deals with the effectiveness of PMS. The results of the study shows that a performance management system acts as a strategic tool and a strong foundation for the workers to realize their ambitions and organizations to achieve their key financial goals.