Does your performance management system exceed expectations and deliver the intended results? Whether the process is a well oiled machine or in need of a major overhaul, talent management leaders committed to continuous improvement are always looking for ways to improve performance management.
Here are seven questions to answer and take action on to improve the effectiveness of your performance management process:
- Is your CEO and Senior Management Team engaged and modeling the way? – If HR is driving the process then employees will see this as an exercise in compliance instead of performance. Executive commitment is critical.
- Does it align with your company mission and values? – One size does not fit all. While best practices are important, it is more important that your system fit your culture because culture drives performance.
- Is the business strategy clear and measureable? – Companies that effectively articulate the strategy and monitor progress so all employees fully understand the metrics, will be more successful reaching the targets.
- Do leaders know how to cascade business goals and link them to individual goals? – Leaders who align business and individual goals will improve engagement and focus employees’ efforts for greater results.
- Are the performance standards clear, observable and measurable? – Companies that measure performance based on behaviors and competencies and use multi-rater feedback for development have greater success and can link performance to reward eligibility.
- Do leaders receive ongoing training and support? – Providing learning to ensure an effective appraisal experience with career development support will go a long way to motivate and inspire improved employee performance.
- Does the system offer just-in-time data? – Systems that provide real time information to identify trends and make key decisions about performance gaps and development needs work best.
This is not a complete list by any means, just some questions that I have found helpful in my experience working with organizations that all had different approaches to the performance management process. What questions would you add to the list?