The theory behind performance management is simple enough: Align the personal and professional goals of your employees with the strategic goals of your organization, and you'll be in a far better position to achieve ongoing success.
Performance management encompasses the setting of these goals, and the monitoring of employees and departments to ensure that objectives are being met in the most effective way possible.
At the end of the day, no company can succeed without committed, dedicated employees that understand their role in the organization. A good performance management strategy can give these individuals context, and provide them with the motivation they need to deliver bottom-line results for the business.
However, many organizations are still struggling to successfully design and implement a performance management strategy that meets their business goals.
With that in mind, NGA.NET has published a new infographic that surmises the key considerations of performance management. It has been designed to provide you with an easy overview of the reasons why performance management is important, as well as what steps you can take to ensure your performance management strategy succeeds.
How do I execute a successful performance management strategy?
As the infographic shows, one of the most important considerations in any performance management initiative is that the strategy must align with wider business goals.
In order to achieve this, HR departments will need to collaborate with executives and senior decision makers to ensure they understand company priorities and key target areas. Furthermore, they should also be discussing future plans and initiatives, to ensure the resources are in place to meet these goals.
Make your performance management strategy fact-based and concise, built on information rather than instinct. It should provide your department with an easy method of analyzing where performance is lacking and where it is thriving within the business, so that proper action can be taken.
Finally, remember that performance management is not a one-off initiative - it is an ongoing exercise. You should be regularly reviewing the engagement and performance of employees to ensure that standards have not slipped across the business.