Performance management is an evaluative workplace practice. But it isn’t the typical yearly performance review with which most are accustomed. Rather, it’s an ongoing conversational effort between employer and employee that encourages the optimal fulfillment of responsibilities and workplace attitudes. While effectively measuring progress, performance management can guide your employees’ personal and professional development and help strategically align their goals with the organization’s objectives and direction.
Performance management can be thought of as four distinct elements. Rather than “steps,” meant to be performed one after another, these are iterative and ongoing. They include communication, goal setting, one-to-ones and recognition.
Communication – Essentially, performance management can be thought of as a continual, organization-wide conversation. The process will simply dissolve without consistent, open and honest dialog from superiors and between peers.
One-to-Ones – Rather than a typical annual performance review, one-to-ones are frequent, casual, face-to-face conversations. They allow time for employees to receive constructive feedback from superiors and voice any roadblocks or concerns relating to their daily tasks.
Goal Setting – Simply put, setting SMART goals drives the performance management process. SMART refers to goals that are specific, measurable, achievable, relevant and time-bound. Ultimately, employees need to understand the “why” behind each goal and how it will help achieve organizational or personal objectives.
Recognition – It goes without saying that employees want to feel valued for the work they put in every day. Recognition helps to motivate and encourage employees. There is no “most important element” of performance management, but recognition should be taken seriously.
Momentum Employer Group can help your organization implement a proven performance management solution. We’ve helped businesses large and small realize the employee engagement and performance benefits that come along with this evaluative workplace practice. Contact us today to learn more.