Laying the Foundation for Performance Management with Manager Accountability
For most the term performance management evokes a description of the dreaded annual review when hundreds of hours are spent on a process that is neither effective at improving performance nor enhancing employees’ development. The true purpose of performance management is an agile system of goalsetting, development, compensation actions, feedback, and a goals-based appraisal of performance. However, most organizations stop at the annual review without having manager employee conversations focusing on performance, engagement, and development drivers continuously all year. A study of HR practitioners showed that only half of managers are providing their direct reports with regular feedback, and less than a third are having routine career coaching conversations with their employees. If the traditional, annual way of performance management is not working and managers are not engaging their employees in regular discussions that they crave, how can we expect our employees to be engaged, perform well, and develop to their potential?