Performance Management is making sure the employee and the organization are focused on the same priorities. It touches on the organization itself by improving production and reducing waste. It helps the employee or individual set and meet their goals and improves the employee manager relationship. The key in keeping an organization and employee aligned, which improves performance and productivity, is Performance Management.
When changes occur Performance Management helps the transition to be smoother and less hectic. It helps the organization and employee have a stream-lined relationship which improves communication and interactions between the two groups. It will help close any gaps that exist in an employee’s skill-set and make them a more valuable employee through feedback and coaching.
Performance Management is not a company’s way of employing “micro-managing” techniques that stunt the professional growth of its employees. But rather, it is a strategic approach to ensuring the efficiency and effectiveness of an organization. Whether at the organizational, departmental or employee level, the goal of performance management is to make sure all business goals are being met in a satisfactorily manner.
The effectiveness of an organization in terms of whether or not it is meeting its mission or goals can be determined by engaging in performance management. According to the U.S. Office of Personnel Management, performance management consists of five components: “Planning work and setting expectations, continually monitoring performance, developing the capacity to perform, periodically rating performance in a summary fashion, and rewarding.”
A Performance Management system is only as good as its evaluation process. It is not enough to implement an effective program that covers all the basics, but you must be able to measure its success via assessments and performance reviews. This will in turn allow you to see where modifications need to take place (e.g. in the performance management system itself, performance of the company as a whole or specific employee performance).
Every successful business plan requires goals and objectives. Goals show the strengths and weaknesses of plans and procedures. Implementing regularly evaluated goals allows leaders to understand where performance is and what needs to be improved. When managing performance, make sure that you implement SMART goals.
Performance goals require strategic action. To be effective, these goals should not be handed down to employees. It is important to include employees in the goal setting process and encourage them to meet their individual performance goals. This will improve individual and company performance.
360 degree feedback is useful for evaluating performance. It provides evaluations from different sources to paint a clear picture of how well an individual performs. Identifying strengths and weaknesses will allow employees to
Competency assessments are essential to performance management. These assessments make it easier to hire and promote the right people. They also help assess performance and the different competencies that employees need to improve. It will also identify the top performers.
Kolb’s Learning Cycle states that learning is based on experience. The learning cycle has four basic elements: experience, observation, conceptualization, and experimentation. It is important to be familiar with the learning cycle to effectively manage performance, and guide employees to greater achievements.
Every employee needs to be motivated in order for performance management to be successful. While employees must take some responsibility in motivating themselves, management can help motivate and develop individuals. Practicing basic motivational techniques will improve performance as it boosts morale.
Performance journals create evaluations that are more accurate by allowing employees and manager to keep track of performance throughout the year. Both managers and employees can keep journals. This will help guide and develop employees who challenge themselves and improve performance.
A performance plan is essential to performance management. It is a strategic plan that each individual needs to follow to become high performing employees. Managers must create a plan with every employee they work with. There is always room for improvement.
Although this workshop is coming to a close, we hope that your journey to improve your performance management skills is just beginning. Please take a moment to review and update your action plan. This will be a key tool to guide your progress in the days, weeks, months, and years to come. We wish you the best of luck on the rest of your travels!