The skilled workforce is the lifeblood of every organization; the right people can take the organization ahead. Unfortunately, most of the organizations treat performance management as an yearly event. Companies which on the contrary review or revise their goals on a quarterly basis boast of an above-average financial performance and do really well as compared to their competitors. Performance management is more than just employee achievement audits. Organization needs to work on an ongoing management cycle where employees are given ongoing support to do better.
In most cases, it is seen that the employees do not have a clear understanding of what they are expected to do. They should have the clear vision of where they exactly fit into the company and how they can effectively contribute for the overall success of the organization. A manager should always align the workforce with higher organizational goals. This will make the employees feel more responsible and allows the individuals to have more onus about their work. Unless the personalized objectives are aligned with greater organizational goals, the organization cannot move forward.
Employees should be recognized for their achievements. If an employee has unexpected appreciation, it will go a long way. With a reward and recognition program in place, it is easier for the organizations to retain employees and engage them effectively in business. The process of performance management should never be treated in isolation; managers should have an integrated approach for employee learning. An evaluation process can be effective only when it is used as an instrument for growth.
If an employee is given feedback, it should be specific. Also, one must remember that a feedback works best when it is related to specific goals. This is the best way to tell the employees if they going on the right path. An employee should understand that feedbacks are not criticisms; rather they are channels of communication which should be presented in such a way, that the feedback should sum up what an employee did right and then identify what exactly needs to be improved in the future.
In order to have regular interactions with your employees, it is imperative that you develop a sound structure to record the goals, monitor performances and open up communication channels between employees and managers. There are some organizations like GE which has developed an app where managers can deliver more regular feedback to their employees.
There are instances of companies which have thrived on a 360-degree feedback system. Here employees receive anonymous and confidential feedback from their co-workers. This online process ensures that the identity of the feedback giver is never disclosed. With this evaluation process, it is easier to understand the strengths and weaknesses of every individual. This feedback encourages the staff to be more productive and efficient.