Performance management isn’t an easy field to navigate. It’s constantly evolving, hence the need for an effective performance management system. New performance management trends emerge every year and all too often, human resource departments get it wrong. Employees are left feeling deflated, unmotivated, and unengaged and managers are frustrated at the poor levels of a team and individual employee performance. Fortunately, more companies are waking up to the importance (and resulting benefits) of effective performance management systems. When an organization develops and implements a performance management system, managers take on new responsibilities:
- Setting meaningful performance objectives
- Ability to use the documentation for setting performance objectives
- Conducting effective performance evaluations for determining performance-based merit increases and incentive payouts
- Communicating pay-for-performance concepts to staff
- Managing performance, including Ongoing reporting and accountability; Effective coaching and managing with emotional intelligence; Joint responsibility with direct reports for their professional development.
The Learning4Living Performance Management Training will enable the top-performing companies to not only develop future and existing leaders but also formulate robust performance management processes. This includes regular performance reviews and detailed appraisals, merit-based reward and recognition, staff development aligned with business needs, and defensible approaches to low or non-performance. Managers need to customize their strategies to each staff, whether developing stretched goals for over-performers or dealing with difficult and or low-performing staff. The correct design and usage of SMART objectives also enable the requisite to follow through and play an integral part in any performance management system.