The Singapore Workforce Development Agency (WDA) offers workshops and guides to assist SMEs in implementing Performance Management Systems in their companies.

What Is Performance Management?

• It is the process of managing your workforce to achieve results for the company and tying their efforts to rewards and benefits.

• Performance Management helps harness the skills and potential of your employees and enables businesses to adopt more flexible wage systems.

What Are The Steps Involved?

1. Establish the Key Performance Indicators (KPIs) for your company. KPIs are standards or benchmarks that the company wants to achieve.
   
   
2. Get all levels of employees to buy into the KPIs.
   
   
3. Regularly communicate your business' performance to all employees.
   
   
4. Keep proper documentation to track employees and their performance.
   
   
5. Review your employees' performance and monitor closely.
   
   
6. Make decisions on wages and bonuses based on performance.

What Else Should I Know?

• National Wage Guidelines
  The National Wage Guidelines help businesses benchmark their salaries and wages on a national level.

• Singapore's Flexible Wage System
  The Government recommends all businesses to adopt a flexi-wage system to cope with downturns and to motivate employees.