6 ways to ensure your performance management hits the spot

We all want to ensure we get the most out of the talented individuals we have in our organisations, yet for many of us this aim remains an elusive one.  Do you employ intrinsic or extrinsic motivation?  What about performance related pay vs hourly pay?

There is research to support each approach, but the Institute for Corporate Productivity think they’ve come up with the answers you need to ensure your performance management works well for you.

In a recent report they’ve highlighted six key challenges facing your performance management endeavours and how you can overcome them.

Challenge 1Providing a consistent approach to performance management across the globe Solution 1Tackle the issue from the boardroom down, providing clear organizational goals and metrics.
Challenge 2Performance management isn’t integrated with core business and talent management practices Solution 2Utilise timely performance data and feedback to ensure it is tied to core goals
Challenge 3Senior manages are not clearly communicating how to achieve high performance Solution 3Start with the values and objectives of the business and build performance management around them
Challenge 4Ratings are ineffective for supporting performance management Solution 4Ignore a rating based system in favour of regular feedback and constructive conversations
Challenge 5Managers are not effective coaches and miss opportunities  Solution 5Train managers in how to coach effectively
Challenge 6Personal development plans fail to meet organisational objectives  Solution 6Create best practice guidelines around development for employees that are integrated

Adi Gaskell is Head of Online at the Process Excellence Network

About Adi Gaskell

I'm an old school liberal with a love of self organising systems. I hold a masters degree in IT, specializing in artificial intelligence and am an experienced community builder who is currently online marketing manager for IQPC. I specialize in community cultivation and using social media to create social organisations. I have written on this topic for publications such as HRMToday, Professional Manager, Business Works and the Chartered Management Institute, as well as being a regular on the UK speaker circuit talking about the power of social media. Specialties Social media, community building, knowledge management, social organisations, blogging, SEO, web 2.0, copy writing, PPC, Affiliate marketing, branding, html, email marketing.

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Individual performance management can be extremely efficient with advantages for both the individual and the business, when it is applied properly. It is deliberate to be a continuous and ongoing process that is not constricted by timetables and schedules in the same way as yearly appraisals are, to be truly effective.