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Raising the bar on Performance Management
In the current business environment “average is over”. Employees that are not working to their full potential are negatively affecting the performance of the companies they work for. Hiring people with the right skill sets for a job is no longer the most important factor in determining the success of a company. Managers need to focus in on how employees actually perform within the company through the most effective use of these skills. Harry Sinden, long-time general manager, coach and president for the Boston Bruins said of his hockey team, “It’s the attitude of the players, not their skills, that is the biggest factor in determining whether you win or lose”.
In the context of business organisations, weak employee performance is “losing”. So how can these organisations ensure that their people have the right attitudes so that they can work hard and effectively? This can be achieved through raising the bar on performance management!
The first stage in raising the bar is through careful performance planning. Depending on the company the performance plan may need improvement or even complete revamping. It involves setting objectives and goals and ensuring that they are SMART (Specific, Measurable, Achievable, Realistic and Time Bound). The plan will involve ensuring that each employee is aligned to team, department and overall company goals.
In order for the SMART objectives to be achieved performance will then need to be managed on a continuous basis. This means the end of the annual review process and the implementation of a new continuous review process that allows managers and staff to discuss elements of their performance frequently and when it is most relevant. Ongoing transparent feedback, mentoring and coaching are all key elements of this continuous review process which will help raise the bar on performance.
Employees must also be appropriately rewarded and acknowledged for their high performance (this doesn’t necessarily need to be associated to money!). Rewarding employees correctly will allow them to know that their hard work and good attitude is appreciated and motivate them to keep up their efforts.
Raising the bar on performance management will bring many benefits. It empowers managers and employees, improves communication and engagement, and most importantly it has been proven to highly increase overall company productivity and performance.
Our goal is to provide a simple, flexible and effective performance management solution that helps companies to get the best out of their people. Talentevo is a central hub for the entire performance management process. It brings all the required activities together into an organised, secure and easy to manage environment.