Performance management as Managers

 

Performance management as Managers

What is Performance management?

Performance management is a continuous process in which managers and employees regularly communicate to assess and review job responsibilities, expectations, performance, and development strategies. Essentially, performance management is what organizations do to become more successful and stay ahead of their competitors. The communication process includes:

Clarifying Expectation        Setting Objectives        Identifying Goals       Providing Feedback  Reviewing results

What is the Objectives of Performance management?

The objective is to enable staff members to do their best work, coordinate their endeavors with the organization's strategic goals, and establish a productive and satisfying work environment for all.

Here I have listed some objectives:

·         By linking individual employee work efforts with the organization’s mission and objectives, the employee and the organization understand how that job contributes to the organization.

·         By focusing attention on setting clear performance expectations (results + actions & behaviors), it helps the employee know what needs to be done to be successful on the job. 

·         Through the use of objectives, standards, performance dimensions, and other measures it focuses effort. This helps the department get done what needs to be done and provides a solid rationale for eliminating work that is no longer useful.

·         Through regular check-in discussions, which include status updates, coaching, and feedback, it promotes flexibility, allowing you and the employee to identify problems early and change the course of a project or work assignment.

Nevertheless, according to a Betterworks study, 21% of workers claim that their goals are set once a year and are never reviewed. 16% more claim not to have any goals. According to a third of workers, they only meet with managers once a year or receive feedback to assist them reach goals. One out of ten workers says they get this kind of feedback infrequently or never.

Employees that receive ongoing, real-time feedback are better able to learn, grow, and self-correct. They can continuously raise their level of performance at work, which will give them a stronger sense of achievement. This gives the company a workforce that is qualified, engaged, and skilled.

A Willis Tower Watson study found that companies using performance management programs effectively are 1.5x as likely to outperform their competitors financially and 1.25x as likely to see an increase in employee productivity.

Businesses can accomplish their goals and objectives by using performance management to enhance both individual and team performance. For instance, you can increase revenue if one of your company's goals is to manage the performance of your sales staff. Employee engagement is boosted by performance management, which enables workers to see how their personal objectives match those of the organization and how they help achieve those objectives.

References:

Vulpen, E. van (2019). What is Performance Management? A Full Guide. [online] AIHR. Available at: https://www.aihr.com/what-is-performance-management/

 

Marr, B. (2021). What is performance management? A super simple explanation for everyone. [online] Bernard Marr. Available at: https://bernardmarr.com/what-is-performance-management-a-super-simple-explanation-for-everyone/.