Performance Management is an on-going discussion with in most organisations. Not least because satisfied staff are far more likely to stay around than those who aren’t. And with employment at an all-time high, companies are having to work harder to keep and retain talented staff.
The performance appraisal is used in organisations as a way to manage performance, to distribute reward, and to identify and keep future talent. However in a recent survey it was found that ONLY 14% of organisations are happy with their current performance management process. For most organisations, performance appraisals are a time set aside for line managers to talk to their staff about achievements, based on goals often set over a year ago, and to set new objectives for the coming year. Too often employees leave reviews feeling less motivated and misaligned with the work they are really doing.
As organisations continue to modernise, it seems the annual performance appraisal will need to adapt. The new organisation will need a performance mindset that is aligned to the shared values of both the employee and the organisation that is core to the way of working. We have noticed that within our own client base, that thought leadership is moving away from the formality of the performance appraisal and towards providing continuous feedback.
This effective way to develop a performance mindset, flexible enough to give and receive regular feedback and to self-regulate in the moment, is to establish a coaching culture in the organisation.
So why not contact Sally Phillips 07887 877521 or email sally.phillips@wardwilliams.co.uk and find out how Ward Williams can support your business with Performance Management.