Performance standards are set in order to provide a benchmark against which the actual performances of the employees are evaluated during a review process. It is an indicator of how well a job has to be performed.
The standards should address various dimensions like Timelines, Quality aspects, Quantity of work and Cost effectiveness. For this purpose, the standards set must be specific and Measurable.
The standards could include quantifiable specific parameters or sometimes even behavioural traits expected that could be a performance enhancer for a particular job.