Performance Management, Defined

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Performance management starts as soon as an employee is hired and ends when he leaves the organization. Between the two careful planning and a well defined model for performance management is necessary for its smooth working. 

Develop clear job descriptions

The act of defining job descriptions and aligning its respective competencies embark the journey of performance management. Job descriptions should be clear and crisp with least ambiguities. It should aid to showcase the ultimate goal and provide a detailed path towards it.

Select appropriate people with an appropriate selection process

Every employee is unique taped with them is an even unique set of skill sets. It’s up to the manager to align the job requirements with the relevant skill sets embedded in an employee. This helps in creating an environment of high job satisfaction among employees. Negotiate requirements and accomplishments based performance standards, outcomes and measure.

The sole reason behind employees failing to achieve goals is that they are unaware and in the dark in terms of what actions they need to perform.

Provide effective orientation, education and training

The crucial task before an employee is assigned a particular task is to monitor and evaluate his or her skill set and find out if any skill gap exists. If the skill gap is too wide, relevant training should be administered to the employee to aid in better performance towards the competencies.

Provide on-going coaching and feedback

Feedback is a crucial entity which boosts the morale of the employees. Feedback systems should be incorporated and religiously followed. A healthy environment of feedbacks should be inculcated.

Conduct quarterly performance development discussions

When regular performance discussions are conducted it sets an involuntary habit of reviews and feed backs. It also constantly provides the employee an opportunity to review himself and map his progress.

Design effective compensation and recognition systems that reward people for their contributions

Providing compensation is commonly disregarded but the fact that rather than the money its value redeemed is far greater than the money itself. Therefore its essential to chalk out a mode which links performance to rewards.

Provide promotional/career development opportunities for staff

It’s the sole duty of the manager in improving or acquiring the skill sets bestowed on his employees. It provides the employee to become more effective and also brings a sense of worthiness to the company.

Assist with exit interviews to understand why employees leave the organization

When a high performer leaves the company, it’s crucial the company tries its best to understand the withdrawal of that employee from the company. This would provide key knowledge and provide many windows for improvements. This feedback will help the company to maintain a high level of retention in its employee pool.