Is Your Performance Management Strategy Failing?

Recently, there has been a decline in the quality of work in the office. As you look around, you notice more employees not doing what they're supposed to, more unfinished projects, and eventually you realize your performance management strategy isn't working anymore. In fact, it malfunctions so badly that you don't know how to correct the situation.

Develop a new strategy

It takes some time to develop and implement a new performance management strategy, but don't let that deter you from solving the problem. Only 3% of organizations state that their current performance management provides exceptional value. This means that there is a high probability that at least part of the current strategy will not work, causing the entire system to not work.

Carefully review the strategy to find the broken link - poor communication, poor performance evaluation practices, misinterpretation of goals and values, etc. These are things that can be problematic and at the same time throw the whole strategy out of whack.

Don't fix what isn't broken

As a company manager, you have witnessed how the employees' performances are going. Employees come and go with different trends and personalities. While that may seem like reason enough to change your current strategy, you should take a closer look. It is not certain that there is a need for change. Surely there is a reason why candidates and new hires apply to the company? Maybe it's the work the organization does, or the amazing culture that's developed over the years...however you look at it, performance has something to do with it.

It is not always the employees that need to be adjusted, sometimes it is the way management interacts with the team. Performance management is more than just how well employees performed last year. It is a summary of how the employees have reached their goals (personally and professionally), performed and developed since the last evaluation.

Employees are usually eager to perform at a high level. Not only to do a good job for the organization, but also to build their own career, develop personally and professionally and achieve the highest possible degree of satisfaction.

Keep it regulated

The core of performance management is the employee interview. When there are problems with the employee interviews, the whole strategy crumbles. You can't expect to know how to guide your employees to perform better if you don't understand the driving force behind their work. Therefore, it is crucial to conduct employee interviews at regular intervals. Only 52% of companies conduct annual employee reviews, which means that the majority of companies do not have a fixed system for employee reviews as part of their performance management strategy.

The management of the organization must also be involved in the performance management system, as it is they who ultimately dictate the organization's performance culture. Performance reviews give managers the information they need to analyze the data and help improve team performance. They promote high performance standards through regular feedback and goal setting through coaching.

Performance management should be as fluid as the employees who walk in and out the doors. Parts of the strategy work well with the employees, while others must be changed regularly. Although parts of the strategy may be broken, parts of it still work. Take the time to take a closer look at the employee interviews before changing the entire process. With a regulated process for employee interviews, you can assess more than just the employees' performance. You will see how the organization fits their personal and professional goals, and you will have the opportunity to match these with the company's values.

In conclusion, identifying and addressing flaws in your performance management strategy is crucial for organizational success. IceHrm provides solutions to enhance your strategy and drive improved employee performance.