Do you want a process that turns managers and employees into team members? A system that offers frequent and consistent feedback. A training and mentoring program that enables employees to excel. According to some theories, that’s all you need to ensure active employee engagement and a strong team culture.
And, it’s almost correct.
A strategic performance management system is the linchpin of a company’s success, and performance reviews are the crux of that system. They’re only as effective, however, as the information on which they’re based. If your organization’s performance reviews aren’t measuring what you truly need them to measure, then you won’t get the results you want.
What behaviors, actions, and beliefs do your employees need to excel in your company? What contributes to the overall culture? What ensures customer satisfaction and regular growth?
An effective performance management system features performance reviews that are built around this information, information that is easily obtained by utilizing competencies. Competencies are essential for successful management. They enable managers to determine where individual employees and teams require additional training and development, and which employees are highest potential.
Most importantly, they ensure you are promoting and rewarding your employees for the behaviors you actually want – the ones that directly impact customer satisfaction, profitability, and company morale.