Performance Management is often regarded as a negative activity, being something managers undertake with under-performing employees.
Ideally it should be a process that all managers work through with their team members. Performance management is a collaborative process where employees and managers agree on performance goals and expectations and determine how to achieve them.
There are four stages of the Performance Management Cycle;
Planning
Where the manager and employee establish and agree on goals, objectives and various performance targets to be achieved in the time determined.
Such planning is aligned to business requirements and the employees own goals.
Monitoring
Where there is regular assessment of progress towards goals and objectives.
This assessment includes regular feedback, guidance and also re-adjustment of the goals if things change.
Development
Includes the active improvement of skills, knowledge and capabilities to assist achieve the various goals.
This could include training and development, coaching and support, cross-training, special projects etc.
Rate & Reward
As the cycle comes to an end, the individual performance is rated and if the goals and objectives are met, rewarded.
While the cycle could be annual, it is considered more effective to have multiple performance management cycles of shorter periods during an annual assessment cycle.
Naturally, it is important that these programs are well documented and goals and objectives are measureable.
Performance Management should be the platform to develop all emloyee performance, not just a remedy for poor performance.
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