Revisiting Performance Management

Working Knowledge 01 (Bi-monthly series, every 2-month)

Topic: Revisiting Performance Management

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Chronic Enterprise Challenges/ Painpoints

Despite technological advancements and widespread best practices in this area, performance management has always been a tricky part of any organisation. Performance management issues can derail progress resulting in time and money losses for enterprises. Inefficiencies in performance management have hurt, rather than enhanced, business output. The following are some critical factors as to why some practices lead to ineffective performance management.

1)????? Utilising outdated performance review methods that leverage outputs and subjective indicators, thus leading to poor performance outcomes.

2)????? Depending too much on the wrong technology instead of using technology as an enabler for the performance development processes

3)????? Unsustainable practices of a performance management culture focusing solely on evaluation rather than performance development

4)????? Reliance on micro-management and lack of trust where autonomy is not prevalent

5)????? Poor communication with conflicting signals and inefficient use of communication platforms

If these pain points remain unchecked and not addressed adequately, the dire situation where the enterprise suffers not just financial impact but also long-term compounded effect of all workforce issues.

How To’s Guide or Tips

Regular review of the existing performance management system and practices:

·?????? Adopting agile goal setting and the use of OKRs or KRAs

·?????? Use of data analytics on performance outcomes (right metrics for evidence-based results)

·?????? Ongoing development conversations between management and the workforce

·?????? Involve employees and stakeholders in the performance management design process

·?????? Provide mechanisms for social recognition of performance achievements

·?????? Utilise technology that can enable communication and performance feedback

·?????? Leverage suitable tech tools for performance coaching platforms

Good practices managers should undertake in managing employees that include:

1.?????? Establish and communicate (verbally, via virtual conferencing, and in writing) clear, detailed goals and performance expectations

2.?????? Provide coaching, training, support, and time, resources to help the employee succeed

3.?????? Monitor and observe employee’s performance

4.?????? Give regular, specific, timely feedback to the employee on their progress in meeting established performance goals and expectations

5.?????? Provide targeted professional development feedback and opportunities

6.?????? Offer access to resources and tools for employee learning and growth

7.?????? Assess and document employee performance (evidence-based)

8.?????? Resolve issues in a timely manner when expectations are not being met

9.?????? Provide employees with regular recognition of achievements and accomplishments

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Summary and Key Takeaways

Effective performance management requires enterprise and their leaders to provide positive and progressive conditions that foster clear communication, accurate performance expectations, ongoing collaborative performance review and calibration, and coaching for performance development. Employees will be more engaged and perform effectively when they understand the broader significance of their job in delivering performance outcomes. Improving the communication between managers and employees and providing employees with a degree of ownership in the performance management process can significantly boost engagement and enhance an organisation’s performance sustainably for the long haul.