Employees are the most precious asset of an organization. True leaders know the value of this organizational asset and make it a priority to look after them, support them, remove any hindrances which may be preventing them from performing at their optimum and boost their moral, productivity and performance.
Since leadership is all about inspiring, motivating people and leading them to work to their utmost potential leaders are vested with the responsibility to ensure the performance of their employees.
Performance management is a leadership area in which the leader along with the employees work to
Employees job descriptions, work objectives along with assessing their performance and contributions to the organization.
Let’s take a look into these 3 stages of the performance management system.
Planning Stage of an Effective Performance Management System
The planning stage lays down the foundation of an effective management system. Therefore, the planning stage is considered as the most crucial stage of the effective performance system. Leaders in the planning stage
- Develop a job description for the employee which clearly states the responsibilities of the employee
- Identify in tangible terms the results the employee is expected to achieve and the performance the employee is expected to deliver
- Identify how the employees job and performance will contribute to the organizational objectives
- Outline the yardsticks that would be used to evaluate the employee performance and delivered results.
- Identify a few key performance areas for each employee
- Identify how the employee will be supported to deliver optimum performance like guidance and training etc.
- Take into account the long term career planning and career development objectives of the employee.
While planning is a onetime work the monitoring part of the process management is an ongoing process. In the monitoring phase, the leader
- Assess the employee performance on a regular basis
- Identify any hurdles, limitations or hindrances that the employee may be facing thus preventing the employee from delivering optimal performance.
- Provide employee with feedback aimed at boosting his/her employee, to gain an insight into employee’s point of view and to chalk out a plan to support the employee
- Identify if any changes are required to be made either in the employee’s job description, responsibilities, career objectives and goals.
- Determine whether or not the organization needs to offer guidance and support to the employee to help achieve performance goals.
Review is the last stage of the performance management and includes
- Assessing the overall performance of the employee
- Whether or not the employee was able to meet the goals and target he/she was supposed to meet
- In the event of an unsatisfactory performance on part of the employee inquiring into the reasons behind it.
- Rewarding the employee in the event the employee successfully meets or exceeds his/her target, goals and objectives.