Most organisations do not follow through with the talent management cycle and often discontinue the process after recruitment and selection. However, development and performance management are crucial processes that need to be adopted in order to ensure the retention of valuable talent and the initiation of performance management plans for those who are underperforming.
Below are 5 tips to ensure that you optimise your performance management processes in 2016:
Clear Performance Guidelines
The performance management systems utilised by organisations are generally in the form of an Excel spreadsheet, with generic KPAs, that is updated when the manager remembers to do so. Excel spreadsheets usually only account for quantitative data (e.g. sales data), but there has been a need to focus on qualitative data (e.g. customer service) as well, to ensure optimal organisational efficiency. It is time to get with the programme and adopt an electronic approach, which also allows for accurately defined goals to be easily tracked and customised for each and every employee.
Companies are reverting to cloud-based online performance management and goal tracking systems to ensure paperless solutions that are available from anywhere that has an Internet connection. Goal tracking allows for live and proactive planning that ensures accountability from staff members and mangers for their individual and team performance respectively.
Platforms and Systems that are Easy to Use
The need for user-friendly interfaces has increased and thus less complicated, hierarchical systems seem to be dominating. This results in organisations adopting performance management structures through the online platforms mentioned above.
Employees innately partake in activities that are considered to be fun. Therefore, if your performance management system is easy to use, is aesthetically pleasing, has aspects of competitiveness and has realistic scoring, much like playing a game, this increases employee and manager engagement.
Increase in ROI
Employee compensation is considered to be one of the highest fixed costs for any organisation, small or large. However, your employees should be equated to investments and should not become liabilities. The only way to ensure this is through strategic alignment of organisational goals to those of each employee. This can be achieved by cascading the respective goals from management to the employees, to ensure that targets are met, customer service levels are at their highest and that production is always optimal. The only way to do this is to track every employee within the organisation, in order to determine if an employee is an investment or a liability.