Performance management, especially in the current economic climate, is an essential business strategy. The ability to effectively plan, monitor and reward successful employees and managers ensures that both the business and its employees have a clear understanding of their own personal role within the organisation, and the business strategy as a whole.
Your performance management strategy
A comprehensive performance management strategy can provide a business with a competitive advantage as well as improving employee morale and overall productivity. A number of elements that should be included in any successful performance management strategy are:
- Consider the reasons a performance management strategy is required.
- Job descriptions should be created for every position in the organisation.
- An efficient appraisal process should be defined.
- Each job role within the company should have a clear list of priorities.
- Employees should be provided with the necessary tools to accomplish their objectives and daily activities (training, hardware, mentoring).
- Employee achievements should be recognised (and rewarded).
- A process to allow feedback from employees and managers should be implemented.
- Employee objectives should be in line with the overall company objectives.
- Management should have access to all relevant information in order to make decisions regarding job role changes, training requirements, promotions and salary increases.
- Regular manager/employee engagement should be encouraged for open and honest discussion. Management should be approachable.
The above will then enable an organisation to:
- Align departmental strategy with that of the company as a whole.
- Ascertain the skill set of employees and identify training requirements.
- Offer employees the opportunity for career progression.
- Allow open conversation between employees and managers.
- Link employee skill sets to job roles.
- Identify knowledge gaps.
- Make informed decisions regarding salary.
- Encourage employee ownership.
- Identify top performers and future managers.
Employee objectives should be S.M.A.R.T – specific, measurable, attainable, realistic and timely. This ensures that there is no ambiguity when setting the objectives.
Managing staff performance effectively provides a mechanism for developing and sustaining both staff and organisational growth. Will enable the Clarification of an organisation’s objectives, translating these into clear individual goals, and enable the review of these goals on a regular basis.