Absolute Performance Standard

Dictionary Says

Definition of 'Absolute Performance Standard'

A way of measuring an organization's progress and how effective and efficient it is at running its business. The absolute performance standard is a benchmark for quality control that is only attainable in theory. However, it is a good way to measure how well a business and its workers are doing.
Investopedia Says

Investopedia explains 'Absolute Performance Standard'

Many organizations implement different forms of performance standards that measure different aspects. Some companies use "pay for performance" incentive programs based on merit for workers who do well in their job. Performance standards should be attainable, specific, observable, meaningful, measurable and stated in terms of quality, quantity, timeliness or cost.

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