When your company is small, having formalized employee performance and talent management processes can seem unnecessary. But since your staff are your most strategic resource, and your only sustainable competitive advantage, it makes sense to establish some HR processes that help maximize employee performance.
Here are 3 basic employee performance management best-practices that every company should have in place, regardless of their size:
- Goal management
- Performance feedback
- Development planning
Goal management starts with setting organizational goals and communicating these to all staff. Then, every employee should work with their manager to establish individual goals that are pertinent to their job/role, and help the organization achieve its goals.
Everyone should periodically evaluate their progress on goals, and communicate that to the management team. Effective goal management lets every employee know how their work is contributing to the organization’s success, and lets management know everyone is “working on the right things”.
Employees also need regular feedback on their performance, so they know what they’re doing right, and what they need to change. Every manager should do this informally, on an ongoing basis, but it’s also important to setup a formal process for giving employees the feedback they need to develop and succeed. You should conduct performance appraisals at least annually, but may also find semi-annual or quarterly reviews helpful.
Finally, the best employees are those who are continually developing and expanding their skills. Managers should meet regularly with their employees, and identify strengths and areas for improvement or expansion, then assign appropriate development plans.
Remember, development doesn’t always require taking a course. You can provide training and support learning through: webinars, volunteer activities, work assignments, job shadowing, mentoring, reading, etc.
These three basic employee performances management best-practices support employee performance and engagement, and are vital to your employees’ and company’s success.
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