Simply put, Performance Management is a way to:
i.) Measure peoples performance
ii.) Discuss performance with people, in a constructive way that is perceived as fair
iii.) Make the link visible between performance and compensation/benefits
iv.) Actively develop individuals and teams in order to realize their full potential
What is a structured approach to Performance Management?
The more a company grows, the more we need a simple, systematic and effective approaches that can handle opinions about people in a comprehensive, easy-to-grasp way and (of course) as objectively as possible. Here multi-rater tools can provide a very effective instrument to measure opinions and to provide a framework for discussion.
The benefits of this approach are evident, measuring opinions about behaviours:
- Creates consistency across the group, everyone has a clear view of the definition of “performance” and “non-performance”.
- Gives a solid framework for documenting and giving constructive feedback about improvement opportunities, as well as recognition of achievements.
- Supports salary and bonus discussions.
- Focuses on the individual’s contribution to the results (the ”What”) and also focuses on the
way in which the individual is working to achieve the results, such as; being a
team player, leadership and more (the ”How”)
In measuring performance-related behaviors consistently across the company the company’s Management Team gets a good overview of:
- The improvement potential for individuals, as well as the company.
- Where to launch initiatives that tackle areas that could be detrimental to the company’s performance.
- Insights that can be used for succession planning.
Keeping it simple:
We believe in keeping things simple and as non-bureaucratic as possible. Our tool FeedbackOnline can be used in a straightforward way to measure crucial performance behaviors, the ”How”. Here you can take a look at our Leadership Questionnaire as an example. Similar tools can be added step-by-step to build a comprehensive Performance and Talent management framework that fits your client’s business.