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5 Tips for Effective Performance Management

Effective performance management is more than just creating a work environment that works.

Effective performance management is about having the right leadership driving the organisation towards a performance culture.

Accountability plays a big role in effective performance management as employees need to be given the space to perform their tasks however the buck stops with them and they will be accountable for their delivery.

Here are 5 tips to make things run more smoothly and efficiently in the workplace to enable effective performance management.

1. Define and Communicate Company Goals and Performance Objectives

Your employees cannot meet your performance expectations or company goals if they are not clearly outlined, making this our first step toward effective performance management. Sometimes employers are not as clear as they could be when outlining their goals or company objectives, and often, employees do not come forward to ask follow-up questions when they are confused or unclear about something. You can define and outline goals by using software, export the goals and objectives visually, and stick them up in common areas. Alternatively, if your organisation has an eCOMM system it can be utilized to drive the communication process to ensure that everyone is on the bus with regards to strategy.

2. Utilize Performance Management Software

If you are not already using performance management software, it may be time to consider trying it out. If you do already use one and it’s not saving you any time, your team complains about it, or it has low employee engagement, it may be obsolete and in need of an upgrade. Performance management software can streamline your performance management strategies, making it imperative that you either begin using one or at least begin looking to upgrade.

A good performance management software system should seamlessly integrate both organisational and individual performance management. Employees should be clear around their expectations covering the goals from the strategy and both individual performance goals.

Performance Analytics should drive the business in the shape of meetings with Exco to identify and manage the gap against delivery at an organisational level.

3. Regular Feedback

While your organisation may be using automated communication and performance management tools, it's important for line managers to regularly check the status of progress and to coach and guide the employee against reaching goals and objectives. Positive regular feedback re-energizes employees to stay focused and have a clear path for improvement. This type of feedback cannot wait for the end of the performance cycle to be given. It should be given in real-time and integrated into the company culture. The benefits of using automated performance software are built-in reminders which can be scheduled for line managers to provide feedback that can be captured online for record-keeping.

4. Integrate Risk and Procurement Plan

Another great way to foster effective performance management is to integrate risk plans and procurement plans into the process. Risk-based plans should be identified against the business goals with clear mitigation steps. Procurement plans are especially useful for effective performance management as this will inform the supply chain department of all procurement needs for the financial year. Once again, an automated performance management system can help streamline this process.

5. Set Regular Temperature Checks

Also known as progress reports or progress meetings, setting aside time to meet with your team and seeing how things are going with your set goals and objectives are important for meeting those goals and objectives.

These meetings can be held weekly, monthly, or as often as you see fit. Ensure that your team knows that attendance is mandatory. This makes the progress feedback more accurate and allows you to make plans for moving forward.

When holding these meetings, be sure to have a clear idea of what you want to cover. Some objectives should include:

  1. Recognizing Those Team Members Actively Meeting their Goals and Objectives with Rewards or Incentives

  2. Discussing the plans for the next phase of projects.

  3. Discussing company data such as revenue, customer involvement, marketing etc.

If there are issues, concerns, questions, or ideas you want to discuss, have meetings sooner rather than later. Keeping your team involved, up to date, and in the loop are important for ensuring the machine that is your organization runs smoothly.

These strategies for effective performance management may seem simple, but they can work wonders when implemented into your company’s day-to-day life. Companies should be about the people involved. Making the most of their abilities, recognizing where they shine, encouraging them where they need work, and seeing them as full employees, not just cogs, are really how you can create the right work environment for success. #performancemanagement #riskmanagement #supplychainmanagement #leadership #accountability #goals #objectives #kpis #dashbaords #ecomm #visionactiv #visionactivepms #meetings #corporateculture #organisationalperformance #individualperformance #progressreporting #management #linemanagers #finance #marketing #employeebuyin #employeeengagement #epms #performancemanagementsoftware #performanemanagementtools #feedback #coaching #meetings

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