Today, most organizations are turning to cultural change to boost future growth and performance. In order to develop a high-performing culture, an organization should perform better than its peers in several aspects. These aspects include those such as business performance, innovation, workforce productivity, and engagement; all over a continuous period of time. In this blog, we explain how organizations can use performance management’s best practices to develop a winning culture.
Set Performance Goals
To boost growth and productivity, each employee needs goals to achieve. Having meaningful goals in place improves employee motivation, and gives you a strong foundation for performance reviews. Employees who clearly understand their individual goals in addition to how they link to business become more engaged with their work.
Maintain Better Relationships
The more managers and employees trust each other, the more successful performance conversations will be. To develop trust, managers should show a level of confidence in the employee’s ability to reach their goals, learn from feedback, and enhance their skill sets. They must recognize employees for making improvements and contributions, and maintain consistency when validating and reviewing employees’ performances.
Provide Proper Training
In fear of losing top talents, many companies promote employees based on non-managerial skill sets. However, putting performance management and feedback responsibilities in the hands of the ill-equipped can seriously affect the workforce morale. Make sure managers receive training on how to be effective coaches, and provide them with tools to support the process.
Transparent Talent Decisions
To eliminate the feelings of favoritism, it’s crucial for companies to provide transparency around their talent management practices. The workforce needs to know how performance data will be used to decide career progression, compensation adjustments, and development opportunities. When employees understand how they are being assessed, they’ll be more open to share concerns impacting their performance.
Robust Feedback System
Managers will have many priorities. Therefore, it is important to have a clear performance management structure in place to trigger and enable employees to have regular feedback conversations. Without an automated system, it will never happen. Thus, it’s crucial to have a robust online system to gather key takeaways from these conversations.
Performance management requires a significant culture change – it must be continuously monitored and enhanced. Organizations should make sure to keep the pulse of the business focused on workforce satisfaction, frequency and impact of feedback conversations, and improvements in individual/team performances.
The above insights along with a sophisticated technology will help to create an environment that promotes continuous performance management.