How may high performance people be developed by effective performance management?

Performance management is seen as a corporate management tool that is used to maximize the value that employees create

Performance Management Cycle

Planning: This is a stage where managers and employees agree and communicate set goals and expectations.

Monitoring: This is a stage where managers are expected to monitor the employee’s performance on the set goals. Some organisations use performance management software as a way to track the team’s performance. These software’s are good as they allow managers to track performance in real time.

Developing: After the monitoring stage, the information gathered can be used as a way to improve the employee or team’s performance. This stage is important because managers can consider things like retraining so to further develop the employee’s performance.

Rating: During the performance appraisal meetings, managers can rate their employee performance so to see the state of their performance and implement changes as and when needed.

Rewarding: Employees feel more valued when their performance and improvements are recognized. Simple things like thank you cards can go a long way on recognizing and acknowledging good performance.

Performance Management

It is important for managers to have clear and outlined expectations from the beginning. This is because employees can know what is expected of them and managers can refer to the outlined expectations to see whether the employees are reaching the set goals. Good performance management should also establish deadlines so to help managers and employees stay on track as it boosts goal accountability and alignment. It is important for managers to create a culture of feedback. Constructive feedback gives employees an opportunity to learn as they can find out what they are doing well and areas of improvements. Constructive feedback can be given through one to one meetings at least monthly. This way, employees and managers can see what is going well and any areas that might need improvements. As much as it is important for managers to give feedback, it is also important for managers to give employees opportunities to give feedback through surveys so to see the employees’ thoughts and perceptions. The employee feedback can give managers a better understanding so to make adjustments if needed in order to improve working conditions. High performing employees tend to be loyal and hardworking in a positive workplace. This can be done by building trust, inclusion and respect across the organisation. These qualities in a workplace are important as it encourages teams to celebrate their differences. A lot of high performing employees value continuous learning. It is therefore the manager’s responsibility to include development initiatives in the performance management strategy. The company also benefits from providing trainings like cross training and online trainings as it creates a workforce of top talent. Motivation determines how a person performs in their day-to-day work and managers need to find ways to keep their employees motivated and understand that the work they do matter and why. A good manager is someone with the ability and right training to give and receive constructive feedback. Technology is rapidly growing, and organizations can now use performance management technology where they can easily track the employee performance. The use of a good performance management system as well as a manager with people skills to deliver feedback can help keep employees motivated. As well as individual performance management, to create better performing teams, managers also need to consider developing goals at a team level where the overall goals for the team are clear and communicated. Managers can provide feedback on team goal performance in team meetings and providing training in teams. This is important as managers can identify the unique needs of the teams in their organisations.

How high performing people may be developed by effective performance management

1.Clear Expectations and goals

2.Developmental Coaching and Feedback

3. Rewards and Recognition

4. Performance Measurement and Adjustments

5. Motivation and well- being

Advantages of Performance Management

Good performance management strategy allows for regular feedback which is important as it lets high performing employees know that their work is appreciated while giving low performing employees a chance to further develop themselves through coaching, retraining and providing resources to help them succeed. Performance management systems help organisation’s compliance and employee success. Effective performance management helps keep employees engaged and it makes them feel motivated to improve their performance. Engaged employees tend to get more involved and empowered to go an extra mile in supporting and working towards the company goals. Performance management system gives managers a better understanding of their employee’s current skills set and proficiency levels. This is important because managers can use this information to see how best to support them. Performance management strategy is beneficial for high performing employees, however organisations can also benefit a lot. This is because performance management provides a look into the future and it provides clarity in the organisation. When employees are happy and motivated, the organisation can increase their employee retention.