Top Five Tips for Simple Performance Management – Keys to Success
Over the last few years the number of companies implementing serious performance management plans has risen by thirty percent, and currently eighty percent of companies surveyed in a recent study stated that they felt their company would benefit from improved performance management processes. At its most basic, performance management is nothing more than a straightforward system that is used to help ensure a company or organization meets specific goals and helps to identify problem areas that need to be focused on in order to better meet those goals. However, performance management can become exceedingly complex and can be broken down into very precise measurements. Keeping it simple is often the best course of action for performance management, and here are five tips you can follow to help keep your performance management simply but effective.
- Set Realistic Goals – Nothing will sink your performance management plans faster than coming up with impossible to reach goals. Assessing your company is the first step of performance management, but you need to be honest and realistic if you want your performance management plan to succeed. If you're a company with forty employees and a regional based clientele, expecting your sales figures to match a global company is more than a bit far-fetched. This is an exaggerated example, but a good one. Set goals that you firmly believe your company can reach or your performance management plans will fail before they begin.
- Don't Be Too Demanding – Similarly, don't expect too much from your employees during performance management monitoring. Recent figures found that 84 percent of employees met or exceeded their employer's expectations during performance management studies. If your figures come out to twenty percent, you've either got unreachable demands or a serious hiring deficiency. Performance management involves monitoring your workers for problem areas, but remember that they're only human.
- Develop Effective Solutions – A big part of performance management is helping your employees improve. Take the time to accurately assess problem areas and come up with real, effective solutions. It could be more training or adding a new software program to streamline efficiency, for instance. Whatever you need to use, be sure that your performance management process includes plans for helping your employees grow and develop. Even if you'll meet this performance management goal, take steps now to help move towards the next one.
- Reward Appropriately – Performance management relies on effective and appropriate rewards in order to really succeed. Whether you recognize an entire department, a small group, or an individual, take the time to recognize performance when it is merited. Performance management rewards could be as simple as spoken recognition or could involve monetary rewards. Be sure to use rewards effectively as part of your performance management strategy.
- Use Software – The best way to keep your performance management steps simple and still effective is to use performance management software. A wide selection of programs exist that are designed to help you boost your performance management skills, so don't overlook them. Unicorn HRO offers great performance management solutions that any company can use to help move themselves closer to their goals. Take the time to look into what software or even outsourcing can do for your performance management.