6 Strategies for an Effective Performance Management System
A Performance Management System has a vital role in determining the success of an organization in today’s society. Almost all the companies are looking forward to implement PMS as it provides all the data and statistics at your fingertips. But making it effective for your organization is important and that’s why these 6 strategies will be gold dust for you.
The example of Facebook will definitely make you all think about how they are getting it right every year. The simple reason behind their success is an effective performance management system that is operated and analyzed by their employees. They hold semi-annual reviews that focus on peer-to-peer and employee-to-manager feedback which gives them several insights to their organization’s activities. By narrowing down on peer feedback, the Facebook managers get a clear vision of how their employees collaborate with one another, a value that is dynamic to the firm’s success.
Carry out these 6 strategies to see your organization achieving some astonishing business results,
The 7C’s of Communication
Proper communication is the impetus for an organization to succeed and evolve in such a competitive society. But what does the 7C’s of communication mean? Correct, clear, coherent, complete, courteous, concise and concrete are the 7C’s of communication which helps in preventing inaccuracy, miscommunication, and confusion in a company.
Success and conduct have a very interesting relationship because of the consistency involved and how it has two faces. Unacceptable behaviour should be punished and the right behaviour should be rewarded and if this happens, the percentage of blunders in a company will reduce considerably. It is also important to consistently analyze their behaviour and act according to what their productivity is.
Remember one solid strategy if you expect your team to perform well and that is to lead by example. Be it the conduct, work quality or the professionalism in work, you have to make sure that they look up to you. This is when the level of perfection will take an upsurge in your organization.
“Good leaders make people feel that they’re at the very heart of things, not at the periphery. Everyone feels that he or she makes a difference in the success of the organization. When that happens people feel centered and that gives their work meaning.” said Warren G Bennis, an American scholar, organizational consultant and author in the field of leadership studies.
As a leader of an organization, you should set objectives for your team and direct them to achieve it. When such a clear plan is sketched, the goals are easier to accomplish and the productivity in your company augurs the performance of your business. Let’s look at what happens if the objectives are vague and dubious. If such a scenario arises for a company, frustration creeps in, sucks a lot of energy and implodes within the firm. So, it’s always better to have translucent objectives.
Customizing Training Plans
Every employee in an organization has different skills and goals to meet. Moreover, their expertise and style of learning will be very different from the others as every individual has a different life graph. This is where every company should get smart and design exclusive training programs for a different set of individuals as they all need motivation in distinct mediums.
Reward the Noteworthy
Every individual needs to be rewarded for their work and that’s when the motivation kicks in. A promotion, bonus, incentive or even an appreciation in front of all the employees can make your working environment extremely electrified. This can be a simple but effective strategy for the evolution of your company.
Sam Walton, the founder of Walmart and Sam’s club said “Appreciate everything your associates do for the business. Nothing else can quite substitute for a few well-chosen, well-timed, sincere words of praise. They’re absolutely free and worth a fortune.” Do you all understand the power of this strategy now?
Implementing these six strategies may look simple but they can be very effective in changing the fortunes of your company. Utilizing and motivating your employees and their abilities can create a galvanizing working environment where every single individual’s goal will be to succeed. We at Align Associates have been helping companies to implement effective performance management systems in their working structure as the need for such technology as arised.