5 Tips For Modernizing Your Performance Management System

Performance Management System
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In any business, there are employees that do not perform as well as others. The goal is to limit the depths of poor performance; but as many managers and business owners know, that is easier said than done.

It is surprising how many businesses lack a legitimate and formal performance management system. Although building a modern method of performance evaluation can be uncharted territory for some managers, it remains an essential, necessary and largely beneficial aspect of any business with a production-based emphasis. Below is a list of five helpful tips for modernizing your performance management system.

Establish Expectations

It is nearly impossible to build a performance management system without established expectations. Without a modern performance management system such as Cornerstone talent management in place, even the most proficient subordinate has the opportunity to slack on performance. At the very least, if you create a detailed outline of what your expectations are from subordinates, then they will know the standard to which they are being held and you will have a precedent to bring to their attention in the future.

Take The First Step Towards Evaluation

Even if you don’t complete the entire performance management process, taking the first step towards evaluating your employees will let them know you are serious about your performance expectations. Start by outlining the performance evaluation process. In other words, how and when are you going to request performance reviews, and what feedback do you plan on giving based on those reviews? Also, how will you give them that feedback? Will there be incentives for improved performance?

Follow Through With Performance Management

Once you have your evaluation process set, it is important to follow through with it. The last thing a manager or business owner wants is for a subordinate to call their bluff. While your employee likely won’t say anything, he or she may start slacking on the job as a statement of doubt. For this reason, it is important that you follow through with your evaluation and feedback performance management system.

Let Your Subordinates Know Where They Stand

After receiving the results from performance reviews, you should look them over carefully and compare them to the standards and expectations that you put in place at the beginning of the process. You, or one of your managers, should have a sit down with those who fell short of expectation to discuss the issues you have, and how to get the employee’s performance back on track.

Repeat The Process

Only using your performance management system once will have an effect, but not in the long term. It is critical that you repeatedly and routinely run through the process and use the system you have created. Part of your performance management system should be defining at what intervals you wish to perform evaluations. Monthly? Quarterly? Annually? Whatever you decide, make sure to stick to that schedule. This way, your subordinates know that you are genuinely concerned about their performance, and that you will not hesitate to take the necessary action to correct it.

Conclusion

Not every employee you hire is going to immediately impress you with his or her stellar performance. Every employee that you hire, however, should be capable of meeting — if not exceeding — your expectations. Otherwise, you shouldn’t hire them. With a solid performance management system in place, these problems should be much less of an issue.

Guest Author: Matthew Copland
Matthew went to school as an auto engineer. On the side he writes freelance pieces about the auto industry and technology.