We’ve had some fascinating conversations about performance management over the years, and have found quite a range of formal and not-so-formal approaches, along with variations in defining the process.
But while different organizations may employ different methods, there are a few areas on which most everyone we’ve spoken with enthusiastically agrees:
- Positive versus punitive performance management works best.
- Recognition is an important element of managing the performance of individuals.
- Management must manage the performance of both individuals and processes.
- Regularly scheduled performance reviews or evaluations of individuals are key and should be conducted more frequently than once each year.
- Performance evaluations need not be coupled with merit-based or time-based pay raises and, in most cases, are more effective if not coupled with pay raises.
How does your organization define and execute performance management?