Final answer:
The true statement about performance management is that it should be a continuous process, not just a one-time event. It includes regular feedback, setting goals, and involving upper management, making it integral to the organization's success.
Step-by-step explanation:
The correct statement about the process of performance management is: to be effective, performance management should not be an event but a process. Performance management is a holistic and ongoing process of planning, monitoring, and reviewing an employee's work objectives and overall contribution to the organization. This continuous process involves regular feedback, setting goals, and developing employees through training and relationship building with managers. Annual performance reviews are just a part of this comprehensive approach.
Effective performance management includes exchanging feedback between managers and employees; it is not a one-time event. Senior management and CEOs should be part of this process as both reviewers and recipients of performance management because it influences the entire organization's success. Moreover, performance evaluations are a significant opportunity for employees to discuss their accomplishments, set future goals, and work on personal development plans with their managers.