Unlocking Success: Strategies for Effective Performance Management

Performance management (aka PMP) is a systematic process that serves as the cornerstone for organizational success. Most companies don’t get it right. Very little do it well. Read below as we explore key strategies for setting performance expectations, conducting evaluations, and fostering continuous improvement among employees.

Conducting Evaluations:

Performance Management is not a one-time meeting you have with your staff.

 A few months ago, while at an HRPA - Human Resources Professionals Association event, I heard another HR professional say that performance reviews are a thing of the past, and they don’t recommend them anymore. My eyebrows were raised in shock, questioning to myself, why on earth would that be!?

The answer came to me later on. I believe that the reason why this HR professional doesn’t recommend performance reviews anymore is because innately, businesses don’t manage them well, like at all… In most cases (and if the business has an experienced HR Partner), the HR team is facilitating the process, and not actually conducting the performance reviews, as intended in the program.

Getting back to the basics of the performance evaluation is important. What one business decides on the framework of their PMP, is different from other businesses. Every business is different, so why should the PMP be the same across the board? By creating and implementing a successful PMP that is aligned with your own business objectives, it will directly provide tangible results that the business will realize. The companies that get it right, will manage the program well to ensure that the evaluation process is thorough, reflecting an overall favourable experience for teams, and the business.

Business leaders need to provide feedback, full stop. Whether it’s favorable or constructive in nature, feedback is critical for attaining success (whatever that success is defined as). Incorporating direct feedback during assessments, and providing substantial insights into individual performance is key. According to Quantum Workplace “1 in 2 employees express wanting more feedback, and employees primarily want to receive that feedback directly from their manager” (source).

Collaborative Goal Setting:

Aside from the employee’s daily responsibilities, what else are the employees working towards? Are there other projects that the employees can work on to elevate the business further? By setting additional targets in collaboration with the employees, it will allow greater alignment and reciprocity with the employee overall. These performance goals will align with the organization's strategic vision and attain those tangible results. When you and the employee have focused, comprehensive, and thorough conversation about overall performance, this reflects the commitment of your organization to development of your employees, and the Company.

Fostering the Strategic Continuous Improvement approach:

Foster a continuous improvement culture that is both strategic and influential. This involves a dynamic and determined approach, recognizing the pivotal role of ongoing development in achieving exceptional results. The high-pressure nature of this approach encourages individuals to strive for excellence in alignment with the organization's critical objectives.

When recognizing outstanding performance, take away the “ordinary" approach—something that goes beyond the ordinary and exudes that personal (but professional) approach. Acknowledge achievements in a manner that is not only sophisticated but also strategic, aligning with the remarkable values of the organization. The rewards should be substantial, creating a sense of exclusivity and prominence.

Empathetic Leadership in High-Pressure Environments:

Acknowledge the high-pressure nature of your leadership role and encourage other senior leadership to adopt an empathetic and human approach. Leadership that is both energetic and assertive, yet empathetic, is crucial for steering the organization through decisive and critical phases. This combination of courage and empathy contributes to a powerful and influential leadership style.

Adopting a well written and collaborative-style PMP requires a strategic and influential mindset from the top. By incorporating a collaborative approach to goal setting, providing ongoing feedback, recognition, and continuous improvement opportunities, organizations will create a remarkable and exceptional experience for the team and the Company. This approach not only adds a touch of nobility but also ensures that the organization remains powerful, influential in its pursuit of excellence and of course, profitable.

If you're ready to take your performance management to new heights, Unlimited HRM Solutions Inc. has a wealth of knowledge in this field.