|
|
Like this article? PLEASE +1 it! |  |
|
THREE FACTORS MAKE PERFORMANCE MANAGEMENT A SUCCESS
| Guest post by: Richard Lepsinger |
Article Overview: Over 50% of HR professionals and line managers do not believe their performance management systems support strategy execution.
 |
Free Download - The Hall of Shame: Six Organizations That Couldn’t “Get It Done” in 2011 By Richard Lepsinger |
THREE FACTORS MAKE PERFORMANCE MANAGEMENT A SUCCESS
Performance management is a key tool to enhance accountability and build a high performance culture. Yet it is a source of frustration for many organizations. A new study found that fewer than half of leaders believe their performance management systems add value to the business.
What does it take to make performance management work? Research identified three factors that are prerequisites for success. These elements help ensure that performance management facilitates strategy execution and are critical in both technology-enabled and paper-based systems.
Competence-Managers are competent at performance coaching, goal setting, development planning, and appraisal. Manager skill in these areas is essential for success, and technology is not a substitute. In companies that report successful technology-enabled performance management systems, 90% say that managers have these requisite skills-compared to only 28% in companies where technology-enabled solutions are not adding value. Many companies report that they provide managers with training to conduct effective performance evaluations, yet far fewer provide skill training related to setting goals, performance coaching, and development planning.
Mindset-Performance management is seen as a tool to drive results, not as an administrative task. Both managers and employees should understand the performance management system's purpose, including how it supports broader organizational goals. It is critical that managers understand how it supports strategy execution and why it warrants their attention.
Reinforcement-Managers meet periodically with direct reports to formally review progress. This is a defining characteristic of the best performance management systems, because it ensures that performance coaching, feedback, and monitoring of goals regularly take place. Yet, fewer than half of the companies surveyed report that periodic check-in meetings are required or encouraged as part of their performance management process.
If any one of these three areas is lacking, it is unlikely that introducing a new form, refining the rating scale, or moving to a technology-enabled solution will transform performance management from a compliance scorecard to a strategic tool that will drive results.
Organizational Readiness To Performance Management
Critical Success Factors
Successful Succession Planning - Driven By Managing Performance
Now You Can Be A More Motivational Manager
Creating an effective sales performance management system
Appealing As Part Of Performance Managment
Managing Employees Performance
Building better performance expectations
How to manage and motivate a team
What Should Your Time Management Training Cost in Terms of Money Time and Results
Designing A Performance Management System
Good financial management
Sales Training for Senior Manager Performance Improvement
Dropped Balls
Top Ten Tips About People Management
The overuse of "people" as competitive advantage
SMEs - are youths cut out for entrepreneurship
TIME FOR BUDGETS BUT NO TIME FOR PERFORMANCE MANAGEMENT!
The Basics of Sales Management and Strategic Sales Planning
Defining & measuring Business excellence
|
About the Author: Richard Lepsinger RSS for Richard's articles - Visit Richard's website Rick is President of OnPoint Consulting and has a twenty year track record of success as a human resource consultant and executive. He was a Founder and Managing Partner of Manus, a human capital consulting firm, which he sold to Right Management Consultants in 1998. At Right, Rick was the Managing Vice President of the Northeast Consulting Practice where he was responsible to 55 professionals and grew revenue from $7 million to $20 million. The focus of Rick's work has been on helping organizations close the gap between strategy and execution. He has served as a consultant to leaders and management teams at the Astra-Zeneca, Bayer Pharmaceuticals, Citibank, Coca-Cola Company, ConocoPhilipps, Eisai Inc., Goldman Sachs, Johnson & Johnson, KPMG, Merck & Co., the NYSE Euronext, Northwestern Mutual Life, Pfizer Inc., Pitney Bowes, Prudential, Siemens Medical Systems, and Subaru of America among others. Rick has extensive experience in formulating and implementing strategic plans, managing change, and talent management. He has addressed executive conferences and made presentations to leadership teams on leader effectiveness, strategy execution, performance management, 360� feedback and its uses, and developing and using competency models. Rick has authored or co-authored five books on leadership including Closing the Execution Gap: How Great Leaders and Their Companies Get Results published by Jossey-Bass/Wiley, Flexible Leadership: Creating Value by Balancing Multiple Challenges and Choices, (co-author with Dr. Gary Yukl) published by Jossey-Bass/Pfeiffer, The Art and Science of 360º Feedback, (co-author with Toni Lucia) published by Jossey-Bass/Pfeiffer, and The Art and Science of Competency Models, (co-author with Toni Lucia) of published by Jossey-Bass/Pfeiffer. His newest book is Virtual Team Success: A Practical Guide to Working and Leading From a Distance published by Jossey-Bass/Wiley. Click here to visit Richard's website   Formula for Tough Times Four Ideas to Maintain Morale and Productivity Execution AllStars Five Famous Companies That Bridged the Execution Gap and How They Did It Identifying Future Leaders Creative Leadership Development Strategies in Tough Times Get What You Need From Your Matrix Partners Five Guidelines for Influencing in a Matrix Structure Whats On the Minds of Leaders Today |
Related Forum Posts
Re: Clarity Trumps Persuasion
- Jeff,
Thanks, great stuff !!!
Clarity or "KEEP IT SIMPLE" is probably the best advice anyone can ever give or get when involved in any business or personal situation.
Over 30 years of manufacturing ladies apparel has taught me two critical business lessons:
1-You will never get a 100% perfect outcome so In the BEGINNING,take your time, exhaust all your resources and energy and plan, plan, plan. . . If it STARTS off right it you'll get close to the desired outcome.
2-Keep it simple
I now will add "Clarity" to my formula for success.
CLARITY AND KEEPING IT SIMPLE BREEDS SUCCESS . . . .
I know the advice above is simple but isn't that what it's all about.
Thanks Ringo, This information not only was great for my website but it reminded me that "keeping it simple and clear" got me and my teams through some wicked situations
Best wishes
Barry
Share this article with your friends. Fund someone's dream.
Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
by: 
Build Your List with Joint Venture Giveaway Events
May 2012 Top 100 Social Media Experts to Follow on Twitter
What to measure to be phenomenally successful in business
10 mistakes of media relations
Making Money Blogging Can Be Tons Of Fun 
Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Resistance to Change and How to Deal With It
SEO and the Entrepreneur
Anger Solutions at Work: Why Customers Get Angry
Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.