Performance management has developed over the years. Employees now expect a better assessment process.
In this first of a three-part series, we’ll explore how to improve performance reviews by focusing on three main components of the process: set, share, and survey.
Stage one is focused on identifying the performance management process that will work best for your company. This ‘set’ stage is most effective when the process embodies the company’s purpose, values, and culture.
Determine Purpose of Mission
If your company mission isn’t clear, now is the time to refine it. An effective mission statement should answer five key questions:
Why do we do it?
What do we do?
How do we do it?
Who do we do it for?
What value do we bring?
Knowing the answers to these questions will help you communicate your company’s purpose to employees.
Relay Company Values
Company values should be made clear to every employee as early as their start date. When you team is exposed to the company’s values, they can use them as a constant gauge to determine if their endeavors are in line with the company’s goals. In the event that the employee’s work doesn’t align, you can reinvigorate their interest and commitment to success by reacquainting them with the goals of the company’s onboarding process.
Culture is Key
A positive company culture can develop organically over time from the cumulative traits of the employees. An effective performance management system will emulate the company culture.
After implementing a performance management system built around your mission, values and culture, it’s time to get into the details.
Create Frequent Communication Sessions
Yearly performance reviews are often ineffective. Instead, you should aim to have at least four formal feedback sessions per year with each employee. Regular and frequent meetings allow workers to bring up questions and concerns. It also creates opportunities to correct behavior or work styles that are counter to the company’s goals and previously agreed upon expectations.
Improving performance management begins with setting clear company goals and employee expectations, and then creating a plan of action for success. When everyone is on the same page, improvement is seen in employee satisfaction, productivity, and workplace culture.
We’ve assisted many business leaders in reaching performance management success. Let us show you how we can help take your company’s workplace culture to the next level.