Performance Management Strategies

PERFORMANCE MANAGEMENT STRATEGIES

by Patti Lovelle Cabantug, MBA Student, LCC

Effective Performance Management Strategies are significant to linking individual performance with the goals of every organization. The following are the strategies in performance management that are considered effective, as follows:
It is a must that employees’ performance must be managed effectively to align with the organization’s vision. Otherwise, misalignment would lead to organizational problems.
Management of employees’ performance is one of the managers’ primary responsibilities by way of using effective performance management strategies. Performance Management ensures that the individual performance of employees is set towards the achievement of company objectives to cover both operational and strategic aspects of the business.

Performance Management Responsibilities to be Considered

Typically, performance management involves the following responsibilities:
1. Evaluating employees’ performance with rating all the aspects of work;
2. Conduct feedbacking to the employee being rated of the results of the appraisal of performance;
3. Design employees’ development program based on the results of the appraisal of performance; and
4. To apply meritocracy by using performance appraisal results to provide salary increments and rewards.
5. To review employees’ past performance to monitor their improvements.
6. Providing feedback and providing rewards for those who are shaping up or over performers.

Facts

Evaluating performance may look simple and easy, but most companies are struggling with this human resource management dimension.

Research shows the following data regarding performance management:
1. 20% of employees believe that their performance is not evaluated fairly by their immediate superior;
2. 75% of the millennial workforce don’t have the idea of how they perform; and
3. 95% of the managers are not happy about implementing performance management programs in their company.

Performance Management Strategies

The following are performance management strategies that are considered effective:
1. Define expectations by understanding what is expected of both the employees and managers and there focused on the objectives of the organization;
2. Stress the importance of continuous review of employees’ performance so that they will not lose track;
3. Get rid of the lecture format in implementing performance management. It should be an opportunity for bilateral dialogue;
4. Properly define rating scales to be used in the appraisal system so that there will be understanding and acceptance of the metrics to be used;
5. Focus on the positive sides of employees’ performance while discussing the negative ones using the sandwich method; and
6. Review the raters who are tasked to evaluate the performance of employees and train them properly in conducting the review.
In summary, performance strategies should lead to better results if the following actions are properly observed:
1. Reinforce the vision of the organization by ensuring that managers are doing the same when they conduct continuous or period review of employees’ performance;
2. Consider feedbacking as the final phase to complete the performance management process;
3. Encourage a bilateral dialogue when conducting employees’ performance review and being an effective manager will surely double the effectiveness of the employee;
4. Define each component and metrics used in the performance evaluation instrument;
5. Focus on the positive side while delivering the negative results in conducting performance evaluation; and
6. Review periodically and analyze your instrument and method in appraising employees’ performance.

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