When you are thinking to performance management, what is the first thing that comes to your mind? Do the managers and employees are motivated enough? Do they avoid completing performance related tasks? Do they took enough responsibilities or hide behind the procedures. Do they understand the company vision and direction?
Smart companies are taking steps to address this negative view of performance management. They are implementing innovative solutions that ensure the process delivers real results and actually improves performance and the business’ bottom line.
Here you can find some hints that can be used to improve the performance management processes at your organization:
- Set the performance KPIs. Using established goals as a basis, performance KPIs sets the stage for the year by communicating objectives, and setting an actionable plan to guide the employees to successfully achieve goals. Performance KPIs, as with all other steps, is a collaborative process between the manager and employees, although there will always be some elements that are non-negotiable. Begin with the job description and identify major job expectations employees can be tough to follow the principles and become efficient.
- Define the process. Performance management, including goal setting, performance planning, performance monitoring, feedback and coaching, should be an ongoing real-time and continuous process, not a once or twice yearly event. Feedback that is delivered when it is most relevant enhances learning and provides the opportunity to make any adjustments needed to meet objectives. The attitude towards ongoing feedback is also crucial. If there is organizational support for building constructive feedback into the fabric of day-to-day interactions, then the environment will encourage development and drive goal-directed performance improvement.
- Improve productivity by measuring KPIs. Real-time goal tracking allows for the opportunity to provide feedback as needed, make adjustments to performance plans, tackle obstacles and prepare contingencies for missed deadlines. Without a mechanism to regularly track progress against goals, the ongoing, cyclical nature of the process falls apart and productivity fade. Goal progress discussions, along with all performance feedback, should be delivered with respect and should be objective and supportive.
- Fine tuning the performance review. The relevant data captured in real-time represents an asset to be further used for fine tuning the entire process. This will be the basis for further optimizations and to evaluate the productivity of a person, product, department, company or group of companies. Having these data at hand sets the ground for future competitive offers to clients and if necessary to shift the focus on more profitable business lines. This approach is also benefic for employees and mangers because creates competition and a strong appraisal and review process based on contribution and tangible results.
- Encourage full participation and contribution to success. The performance management process must add value, otherwise problems with resistance and non-participation will surface. The process itself shall be as efficient and simple as possible. Automated reminders and scheduling tools can help keep the process on track. Another element that contributes to success is upper-level management support. This support needs to take not only the form of verbal support, but also through participation in the same performance management process. In addition, consider the current culture of your organization when it comes to performance appraisals and performance management. Is the atmosphere supportive of an effective process? Is there a culture of open, honest communication – or are employees fearful when they make a mistake? Employees must be able to honestly discuss performance and consider how to make improvements in order to move forward.
Keeping track of your performance management KPIs doesn’t have to be a headache. There are tools and solutions available that can help you to manage your performance and make smarter and more informed business decisions.
Get in touch with Wibiway team and we will be glad to support you. We are specialists in profitability, business strategy, project management and digital transformation. Our dedicated application will lead your way to track your performance KPIs and provide you the means to steer your business to success.
For details please visit: https://wibiway.com
You can test it for free at: https://register.wibiway.com