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Performance management is defined as an ongoing process which aims at identifying, measuring and developing the performance of individual employees at the workplace. The process requires constant communication between managers and his/her team members.
Performance management’s entire objective is connected with the overall mission and goals of an organization and how an individual can add value to it. It provides feedback, accountability, and documentation for the performances of individuals.
There are two key elements in performance management:
Performance management is not the same as performance appraisal. Performance management relies on the detailed perusal of how an organization’s employees have historically performed and if there are any efforts from the employees’ end to improve their performance in the future.
If you are an effective manager, you wouldn’t just give feedback, you will also ask for one. That is how the process will be effective for all. Same is not with performance appraisals, it is a one time process and usually conducted on a yearly basis. Performance management helps managers understand the needs of their employees and how best to fulfill them.
There is no thumb rule for a performance management system, every organization may have a different take on it. Many organizations have been able to develop an effective system over their years of operation. Remember there is not just one way of doing things. Depending on the organization’s goals and mission, the system may vary.
In a typical world, a performance management system includes the following components:
This is a process where an employee can access his/her strengths and weaknesses, training needs, etc. based on the review provided by the manager. It is essential to do a SWOT analysis here, as the manager’s evaluation can be used to identify areas that align with the organization’s goal and mission.
360-degree feedback is probably the most important component of performance management and also the most valuable addition. It is a method where an employee receives feedback from his/her manager, peers, subordinates, top level management and also gives feedback to self. This gives an employee a comprehensive overview of their strengths along with their weaknesses. It is a method that encourages constructive feedback and is being increasingly practiced by organizations as a part of the performance management system.
Conducting an employee engagement survey in your organization is an effective way of understanding what matters the most to the employees. As the name suggests the primary reason to conduct this survey is to get an insight into the levels of engagement or disengagement of the employees. There is no set way of measuring employee engagement, however with the dedicated frameworks designed by Workforce, you can now analyze and measure the end-to-end process. The report in-turn highlight areas of improvement and development for the employees.
Pulse review as the name suggests measures the pulse of the organization. It is an awesome tool to collect feedback that empowers and encourages employees to celebrate their strengths and identify their areas of development. Pulse review app designed by QuestionPro Workforce is one such tool that simplifies dialogues and facilitates the sharing of feedback amongst the employees.
This again is a hugely important component for any organization. Research suggests setting SMART goals lead to higher performance than setting no goals. Therefore, the bottom line is to set goals and achieve more. That’s not all, goal alignment is equally important and is a process that will encourage your employees to work collectively towards the common goal of the organization. Your performance management should be designed to set, track and complete individual and team goals.
Performance management is a process to show appreciation to your employees. It is not a process to get back at your employees for something that they might have done in the past. This is not the time to dig graves.
If you search “performance management” on google you will roughly find 1,76,00,00,000 results in under a minute, all these primarily talk about a four-step model: Plan, Act, Monitor, and Review. All these four steps are perfect opportunities to show appreciation. Here is how...
Performance management is often a misunderstood concept, most organizations tend to confuse it with performance appraisal. But there is much more to it. Performance management is about getting results. It is about helping people identify their areas of strength and potential improvement scope.
It is an approach to achieving a shared goal. Performance management is not only about managing individual achievements but also that of the teams. A performance management system is used to identify, measure, celebrate an employees success at work. It serves the following purpose:
Following are the advantages of performance management: