Pump Up Performance Management Processes

Performance management processes are different for every organization. What works best for yours? A recent article, from Talent Management.com author Julie Norquist Roy, notes that employees will look elsewhere if the performance management practices aren’t up to par. Job satisfaction rates for 2011 haven’t completely recovered from the recession of 2008. More specifically, nearly 21 million U.S. workers plan to change their job over the next year. With that many people intending to quit a job and move on to the next, consider the cost of turnover (click here to access figure 1). To think that fear of unemployment will keep employees at their job is a major misconception of management – the recession may be unwinding, but the war for talent is far from over.

What can your organization do to keep employees satisfied and retained? Focus on your performance management processes. Employees feel more valued by their employers when they are given reviews that help them to succeed at their job. Provide your employees with the feedback and support they need. Your job here is to engage and help develop your employees. This way, they will succeed and maintain alignment with organizational goals. Don’t think you have to scrap your whole performance management process if employee alignment and success are not current goals – Evolve. Evolution of performance management processes and investing in the tools to help your employees succeed will shape the future of your talent pool.

Performance management should no longer be a one-time event. It should be about providing more frequent feedback and making performance actionable through learning tools. The result of that concept will be employees who not only improve their skills, but potentially improve their status within the organization.

Traditional performance review techniques may not be as useful as they were once believed to be, but they aren’t completely obsolete. A blend of new and traditional tactics may be most useful. One of the biggest things is to be sure to get feedback to the right folks in a timely fashion (click here to see figure 3). Consider also not only letting feedback be a one-way channel between managers and employees. Feedback is useful from peers, project leaders and clients too. This feedback from daily contacts will also make the review process more helpful.

Performance management processes are not limited to reviews. There have been rumors of a ‘national skills shortage’, and that companies are not able to hire the right employee because no one has the right skill sets. This is false. Organizations have stopped training employees. Apprenticeship and management training programs aren’t as prevalent as they once were (click here to see figure 4).

With employees ready to jump ship at any moment, and a ‘shortage of skilled workers’, one way to ease some of the tension is enhanced performance management processes. Make your organization’s processes more actionable and frequent, so that successes and problems alike are addressed in a timely manner. Employee development processes will build stronger talent pools and also increase employee retention rates.

Employee engagement and happiness start with being in a great place to work, but continue with offering employees a clear sense of alignment with the business and a sense of possibility within the organization.

Creating reviews and processes for your employees that allow for feedback, communication and growth will create satisfied employees. Training and development processes will also create more successful employees. Focus on ongoing, frequent reviews and feedback. Be sure your reviews involve interaction and transparency – let your employees be a part of the process instead of check marks on the page. Give your employees the tools, support and resources they need to be successful. Better performance management processes will result in happier, more engaged employees and higher retention rates – which also results in a better bottom line for the organization. To read more about ways to improve your organization’s performance management processes, click here to read the full article.


Post a comment