Performance management is a critical aspect of organizational success. Uncover the five key drivers that can propel your performance management strategies to new heights, fostering a culture of continuous improvement and high productivity.

Performance Management Drivers

Managers need to buy into and be an active part of the performance management process

  • High performing individuals and teams have a big hairy audacious goal (BHAG) that drives their performance
  • Organizations should place an emphasis on smaller goals that align employee performance with that BHAG
  • Learning and development activities provide employees with the knowledge and skills to do the work
  • Make performance management part of workplace culture with ongoing conversations

Be a great employer

Build a solid employment brand

  • Apply for “best places to work” awards
  • Offer a competitive compensation and benefits package
  • Have an employee referral program
  • Consider boomerangs
  • Boomerangs allow employees to leave, gain new skills, and return with a fresh perspective

Mastering this list is a journey

If the list were easy, everyone would have nailed it by now, and we’d all be working on high performing teams or something else.

  • It’s easier said than done, and it’s not for everyone
  • However, it’s a great list and well worth the journey.

When do you conduct the interview?

Wait until after the person announces their resignation.

  • The purpose of an exit interview is to find out what that’something’ was that made an employee start looking in the first place – i.e., check out job opportunities on LinkedIn, take the search firm’s call, engage a headhunter etc.

Good news is that today’s technologies can support many of these performance management drivers

But technology isn’t a substitute for training or effective management or accountability

  • Organizations need to have excellent processes
  • Not taking the time to define the process isn’t fair to the technology, manager, and all of the employee

Competition in the labor market

There are 2 types of competition when it comes to talent: general competition and industry-based

  • General competition applies to all jobs, and is the result of low unemployment, increased voluntary quits, etc.
  • Industry-based competition is specific to a type of work, like technology talent in Silicon Valley
  • It could be based on a highly technical position

Recruiters should help hiring managers understand the connection between cost per hire, turnover, and the hiring process

Give candidates a realistic job preview

  • Make it easy to apply
  • Create a community where future candidates can learn about the company
  • Promote your company brand
  • Train hiring managers to interview well

Managers can learn a lot on the job

Here are some skills that organizations want to see in managers from day one: Verbal communication, Written communication, Critical thinking, Decision making, Asking questions, Listening, Customer service, Stress management, Conflict management, and Customer service

  • If organizations want managers to be effective, they need to help them learn all the skills, not just a handful

Employee retention continues to be an issue for organizations

Conducting exit interviews can be a valuable experience for any organization, provided it is done for the right reasons and with proper planning

  • The best reason to conduct exit interviews is to get information about an employee’s experience with the company
  • A few questions to consider when planning the exit interview process
  • Who would conduct the interview?
  • Many companies have an employee’s supervisor administer the interview. This might not be a good idea, especially if the employee had an issue with their supervisor
  • Another option is to have HR conduct it, but it is unlikely that employees will want to open up to HR

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