All you need to know about performance management system

Not a secret anymore…

Define an action plan

Measure the impact

  • The steps or channels that bring maximum returns
  • Areas with high potential but low returns
  • Blockages or challenges faced during the project
  • How to overcome these blockages if it results in better ROI

Don’t worry, it’s scary for all successful leaders in the beginning

Build an engaging performance management system

  1. Keep the performance review open, honest, transparent, and constructive. Tell your team members what they did right, where they could have done better, and how to improve on future projects.
  2. Involve each and every member in the performance review discussion so that every team member is able to see the 360-degree review on his/her performance. To know more about 360-degree review and other performance evaluation methods, read our previous blog Performance Evaluation and Performance Management- A Complete Guide
  3. Create a clear demarcation between high performance and low performance because your team needs to know from you whether their work is creating an impact or not.
  4. While giving feedback, be a team coach and not just a boss. Whether your team improves or not or contributes in ways that are unique in the system depends on you. So, work on your speech and create an interactive session because it matters to your team.

Expect better performance and development with proper feedback

Learn from the failure of other performance management programs

  • Focus on team-specific metrics and see how they work out for the entire organization
  • Fix individual-specific tasks so as to avoid organizational chaos
  • Build efficiency metrics around production so that it reflects on customer satisfaction
  • Embrace inter-department collaboration for the organization to benefit as a whole
  • Incorporate weekly updates and forecasts of key metrics to keep a track

The future of performance management- redesign creativity and collaboration

Conclusion

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