To a certain extent, every organization relies on performance management. The process allows you to develop your team and unlock each individual’s full potential.
And yet, most leaders find their performance management procedures lacking. A survey conducted by CEB found that 95% of managers felt their system needed improvement. So, if you’re like 19 out of 20 supervisors, you’ll want to upgrade the way you handle your employee tracking and development.
But how? How do you get the most out of your performance management process? Here are five best practices to keep in mind:
Make Performance Management a Constant Endeavor
In the old way of doing things, performance reviews came at wide intervals. An employee might have to wait a quarter, or even a full year, before they received a detailed assessment of how they were doing on the job.
This makes it difficult for workers to make incremental changes. Long stretches between performance conversations also delay progress. The wait can let issues fester longer than necessary.
Set Actionable Goals
The way you frame objections has a large influence on how well your employees can upgrade their performance. Clear, actionable advice is easier to follow than vague instructions. It also makes it simpler to track whether your team member has integrated your feedback.
You’ll see added benefits from making your goals as specific as possible. An instruction like “work faster” or “make more sales” leaves it up to your worker to determine the best way to achieve these targets.
Instead, focus on a particular part of the process, with clear instructions on how to improve. For example, instead of calling for additional sales, set a target for the number of new clients contacted. At the same time, show your workers time-tested techniques for finding and qualifying leads.
Fine Tune How You Measure Performance
Setting measurable goals represents a key part of the review process. But are your key performance indicators tracking the right things? You need to make sure.
Any time you set a KPI, you create an incentive structure.
Prioritize speed and your workers will take steps to get faster. But are you sacrificing quality? Emphasize revenue targets with your sales force and you’ll create aggressive salespeople. But are you turning a blind eye to service?
Periodically review the KPIs you use to review performance. Make sure they target the qualities you want. Also, make sure they are comprehensive. You might need to add other measures as well to create multi-faceted employees.
Maintain Strong Communication
Keep up a dialog with your employees between performance reviews. This will help you build a rapport, which will make it easier to deliver constructive criticism when the time comes.
At the same time, a healthy communication process goes in both directions. Ask for feedback. Learn from your employees. By soliciting their opinions during performance management, you improve the process and make it a collaborative effort.
Routinely Review Your Performance Management Process
The current gold standard in performance management can become old-fashioned very quickly. You need to keep up. That involves a constant review of your procedures and assumptions.
This healthy questioning allows you to get better over time. Schedule routine discussions about your performance management process. Look for ways to track results and make incremental updates as needed.
Developing a great team helps you outpace the competition. This starts with having the right employees to start with. A top recruiter, like PrideStaff, will bring you the team members you need to take your company to the next level.
Contact PrideStaff Bend today to learn more.