Managing your employees properly is something leaders of every one of the 5.6 million UK businesses must do. This can help you get the most out of them while developing their skills to make them a real asset to your team.
There’s a lot that goes into managing your team, however. From training and development to performance management, there’s a lot to consider and our article will explore the latter. Performance management is critical for helping your staff members reach their potential and it can be easy to optimise.
If you’d like to learn how to improve your performance management, we can help. Continue reading to find out why you should do it and the best methods to incorporate.
Why should I optimise performance management?
Optimising performance management within your teams brings plenty of benefits with it. Some of the main ones are:
- Companies with effective performance management are more likely to outperform others by 1.5 times
- Better employee performance
- Increased employee engagement
- Improved talent attraction and retention
- Goal alignment with the company’s overall objectives
What are the best ways to improve performance management?
Goal setting
Start by establishing clear, measurable and attainable goals that align with the objectives of your business. Coming up with the goals should be collaborative with the employee and line manager to ensure both feel comfortable with what has been set.
These goals should be reviewed regularly to ensure the worker is on track. Try to be adaptable along the way as circumstances and priorities may change.
Performance reviews
Conduct regular performance reviews to assess progress towards goals and provide constructive feedback. Managers and employees should always have an open dialogue where challenges and opportunities for growth can be identified.
Performance reviews should include highlights too, so your staff members feel valued and that their work is contributing to the bigger picture.
Effective performance reviews can be time-consuming, so deploying a People First platform to manage other tasks can free your schedule to focus on your employees’ progress.
Feedback mechanisms
Feedback mechanisms help you foster a culture where employees feel comfortable receiving constructive comments about their work. Feedback should be specific, timely and actionable where possible to ensure workers can use it to improve future tasks.
Some of the different feedback mechanisms you can incorporate include:
- Informal discussions
- 360-degree feedback
- Performance surveys
Recognition programmes
Constant feedback can be taxing for employees, so they should be rewarded when their work has shown improvement and meets the high standards you demand. Incorporating a recognition programme for individual members and the whole team is a great way to do this and some of the rewards you could use include:
- Team socials
- Bonus scheme
- More annual leave
- Provide small gifts
Also Read: Top 7 Mobile Workforce Management Solutions for 2024
