Effective Performance Management Strategies
Most companies have an annual review period (some have half-yearly too). It is a sensitive topic because it affects people’s careers. HR has the unenviable task of creating performance benchmarks for each function. Strategies for Effective Implementation of Performance Management Strategies, effective talent management aligning strategy people and performance.
Table of Contents
Effective Performance Management Strategies
Control Span Hierarchy
On a chart, a typical office hierarchy looks like a triangle, with the CEO/MD at the top, direct reports in the middle, and direct messages at the bottom. Many researchers suggest that the span of control – meaning number of direct reports – should not exceed 7-8 per Manager to foster an effective engagement.
Goal Setting
Goals should be realistic, attainable, and most importantly, mutually agreed. Providing infrastructure, training, guidance and support should be a priority for managers and HR. In order to properly develop an employee’s career, goals must be discussed and agreed upon. These can be set for a half/full year (short term) or 3-5 years (long term) (a long time). Goals cannot be undefined or unachievable. Employees can track their progress with regular meetings with managers or HR.
Performance review
Employees are asked to self-assess based on agreed goals vs. achievements. Employees must be honest in reporting both under and over achievements. 360-degree feedback from peers, stakeholders, and clients. The performance evaluation must be backed up by data. To form a comprehensive opinion on an employee’s performance, a manager should seek feedback from peers, stakeholders, and even clients.
360º feedback
Acceptable errors or omissions should be given some leeway in evaluation. The ability to manage change, to work smarter/safer/faster/cheaper/more efficiently and to interact with clients, peers, and others all play a role. Strategies for Effective Implementation of Performance Management Strategies, effective talent management aligning strategy people and performance.
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