Performance management is our topic for this Leadership Minute.
Being an effective leader and manager is about leading by example. Some of the most significant tasks include building employee engagement and managing for performance.
Performance management is an ongoing process. It is part of every organization’s strategic plan for the purpose of continually developing and motivating employees through expectations that are clear, collaborative, and aligned.
An effective performance management process sets the foundation, aligning employee efforts with the organization’s goals. By linking individual employee work efforts with the organization’s mission and objectives, the employee and the organization understand how their respective roles contribute to the organization. When the attention is focused on setting clear performance objectives through defined actions, behaviors, and results, it helps employees know what needs to be accomplished to be successful.
The core components of effective performance management include:
• Establishing Expectations
• Continually Coaching
• Creating Accountability
This process incorporates regular check-in discussions, status updates, coaching, and feedback to promote flexibility and identify challenges. It requires time to plan and implement strategies and can be considered an effective motivator that helps achieve organizational success.
By contrast, an annual review should simply be a summary of the conversations held between manager and employee during the year.
To learn more performance management and the performance development cycle, attend one of our leadership development programs found on our website, ww.chairacademy.com