The Benefits of Performance Management

FromtheDeskoftheCEO

 

Performance reviews can be a rewarding undertaking and a valuable asset in bringing managers and employees closer, while strengthening an organization’s culture and operational efficiencies. The goal of this exercise is to ensure that the employee walks away knowing what they did well and how they can improve.

To make this end-of-year ritual significant requires all participants to be prepared, engaged and objective. It will be much more productive when the process is approached as a reflective and participatory dialog with agreed upon follow-up steps and regular year-round check-ins. Here a few points to make the process more transparent and manageable:

• Be specific, identify a solution, and together agree on the impact this will has on career growth and the organization’s objectives. When employees can self-evaluate their performance, it helps them set their own goals and continue to be self-learners.

• Employees who receive praise and recognition perform better. A Harvard Business Review found high-performing teams are nearly 6X more likely to focus on positive feedback than the average team.

• Choosing a performance management software can help reduce the administrative burden of the process while increasing employee satisfaction.