Performance Management
Whenever organisations rely on human resources to deliver a product or server, it is essential to understand the importance of Performance Management.
#1 Hiring
First, hire the right people to do the job.
#2 Set Expectations
Set the right expectations at the right time. This means from the stage of interview itself it is vital to disclose the performance requirements to the candidate to ensure that they are aware of what they are getting into and how they could contribute back to the organisation.
#3 Performance Management stages
Now that the goals are set the candidate should be allowed enough training for them to be productive. If training isn't an option, they should be given time to obtain the knowledge by practice.
#3.1 Provide Training
Organisations usually fail to realize the importance of training. If an individual is expected to perform, it makes it easier for both the organsiation as well as the individual to do so if appropriate training is provided.
#3.2 Provide Mentoring,Coaching
Once the individuals have the necessary knowledge they to do their job, it is now up to the individual to shine
#3.3 The Review
This will be a quarterly or monthly one-on-one performance review which allows both parties the employeer and employee to evaluate their performances and work on them.
#4 Annual Review
By this time it is evident that 20% of the employees are performing really well. These employees can be rewarded and recognized for their efforts in the compny.
The bottom 10% employees are those who have been given sufficient amount of time to perform along with support through training,mentoring,coaching and review. If they still haven't been able to upskill themselves and deliver, it is time for the organisation to let go of these employees. Also, in this bottom 10% there might be those employees who have performed really well in the past however aren't able to perform as good anymore. This gives an opportunity for newcommers to bring their fresh energy into the organisation and allow it to continuously perform better.
The rest of the 70% of the employees will evidently be aiming at performing towards the top 20% of the herd.
Following is a clear example of different qualitative and quantitative performance targets that can be set for employees at different levels of the orgnisation. An yearly performance appraisal flowchart helps structure the evaluations better.
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