5 Best Practices in Performance Management

Posted by Creatiq Support | Wednesday, February 8, 2017

5 Best Practices in Performance Management

Posted by Creatiq Support | Wednesday, February 8, 2017

Hiring top talent is a challenge within itself, but what do you do with
those employees once you get them on board? Priorities will center on
maintaining and grooming employees for a successful career with your company.
Achieving this is possible with a well-thought-out
performance management system that thoroughly
addresses the relationship between employee performance and company
performance. Here are five best practices that your company can
integrate as part of a successful performance management process. 

Keep Communication Ongoing

Employees and management should always have an ongoing dialogue about
performance. Deal with any potential trouble areas immediately in order to
encourage a successful outcome in the future. Feedback should not be
designated as a one-time annual event.

Educate Management on Performance Review Pitfalls

Managers may be blissfully unaware of certain pitfalls that occur during
reviews. For instance, managers may rank an employee higher based on a certain
trait rather than objective measures; this is also known as the Halo
Effect. Or managers may rank all employees approximately the same without any
real differentiation.  Also, be sure that management is aware of what not
to do or say during performance reviews. Train supervisors on any
applicable labor laws.  

Link Performance Management to Company-Wide Initiatives

Make sure to tie your business goals and values into your system. If you
want your employees to focus on goals that actually impact profits, then
include them in performance appraisals. Linking to company-wide initiatives
makes employees aware of how their contributions impact the
business’s overall success.

Reward Good Performance

Everyone wants recognition for a job well done. Of course, feedback
should point out areas needing improvement, but no one wants to hear the bad
all the time. Reinforce positive behavior and actions by rewarding employees
accordingly. Show that you don’t just notice the problems, but appreciate
your employees when they do something right.

Utilize 360 Feedback

Feedback isn’t just a job for managers anymore. Get everyone who works with
the employee involved in providing constructive criticism or giving praise
where it’s deserved. This also gives the employee an opportunity
to evaluate management. This encourages a more open and honest culture
where even top players are held accountable for the company’s success.