Recently I’ve engaged in lots of conversations about where performance management is going. In the spirit of sharing the wealth, this is the first of a multi-part article where I’ll touch on design trends, their importance, practical how to’s and benefits.
Part 1 – Increased Frequency with Continuous Improvement Focus
Gone are the days when performance management was a vehicle to measure productivity in people and determine salary increases. Today’s performance management system is also a vehicle to engage people in meaningful ways that result in employees’ sense of belonging, contribution to a greater purpose and realization of career aspirations. Outcomes include increased employee retention, healthier company culture and stellar organizational performance. Performance management today paves the way for highly diverse and motivated employees to bring their whole selves to their work.
This multi-part article on “What is New in Performance Management?” reveals design trends, their importance, practical how to’s and benefits!
Trend 1 – More frequent conversations between manager and employee, often called “check-ins”, that move performance management from event based (often annually) to an ongoing conversation focused on continuous improvement.
Build trust – What better way to build trust within the organization, and especially between manager and employee, than through frequent conversations about goals, feedback on progression, the employee experience, development activities and coaching?
In practical terms – It means real-time, weekly or monthly “check-ins” coupled with quarterly or semi-annual written reviews. Don’t fret, the written review is expressed in bullets – not long dissertations. And performance management software makes it easy for both employees and managers to gain tangible efficiencies.
Adoption benefits – Increasingly better relationships between employees and their managers – which we all know impacts retention. That increased trust paves the way for reciprocal feedback where employees provide their managers feedback that is welcomed. The trust spills over into other relationships thus paving the way for peer feedback.
Stay tuned for the next part of this article!
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