A good performance management system can help motivate and guide employees to achieve great things for an organisation. A well-designed system can also provide feedback and recognition for employees who are meeting or exceeding expectations.
Performance management is a field that is constantly evolving. This means that there is a constant need for an effective employee performance management system. New performance management trends emerge every year, and unfortunately, all too often, human resource departments get it completely wrong. This can lead to a number of problems, including a lack of productivity and poor morale.
Performance management systems are vital for any company in order to ensure that employees are performing to the best of their abilities. This leads to higher levels of productivity and creativity, and a more positive work environment overall. Additionally, these systems help to identify any areas where employees may need additional training or support. Thankfully, more and more companies are now waking up to the importance (and resulting benefits) of effective performance management systems.
How is employee performance management defined?
Many people will immediately think of the annual performance review process when discussing performance management. However, the performance appraisal is only one component of what is considered to be performance management. Performance management is really a continuous process that helps individuals and organisations to achieve their goals.
The performance management cycle should bring together a number of different, integrated activities in order to create an ongoing process. This could include setting objectives, measuring progress, providing feedback, and taking corrective action where necessary.
By creating an employee performance management cycle that is tailored to the specific needs of the organisation, it is possible to create a process that is truly effective in driving results.
How does an effective employee performance management system benefit your business?
It is vital that employees feel valued and appreciated for the work they do and the effort they put in. If employee recognition is not a priority, this will most likely have a negative bearing on your voluntary turnover. Employees who feel valued and appreciated are more likely to be motivated and productive, and less likely to look for other opportunities.
What can you do to make sure that your employees feel appreciated?