According to SMART CEO, the Society of Human Resource Management defines Performance Management as “the process of maintaining or improving employee job performance through the use of performance assessment tools, coaching, and counseling as well as providing continuous feedback. Organizations are interested in performance management systems because individual contribution drives business results that accomplish the goals of the organization. The performance management process provides an opportunity for the employee and the performance manager to discuss development goals and jointly create a plan for achieving those goals. Development plans and individual actions then contribute to organizational goals and the professional growth of the employee.”
Although my business is not that big yet, I realized that as an employer, I want my employees to reach their full potential to do work professionally, that is why in every meeting that we have I keep on telling them about what we are aiming for that is "To do work professionally with Quality and Pride".
Successfactors.com had written an article about "Ways to Unlock Your Employees' Performance Potential" which talks about how the Human Resource Management had amazingly shifted to the most fundamental level that eventually redefined every aspect of the employee life-cycle, from talent acquisition, to performance measurement to employee compensation. They said that in a management point of view, we make sure that employees' daily efforts contribute to your company's business objectives. The management should establish a formal process for creating relevant goals for each employee, and monitoring/measuring performance against the company's objectives. An open and ongoing dialogue with management is the key towards success ensuring that employees and the company are aligned in achieving its GOALS.
Bain & Company has its own definition, they call it Full Potential Transformation. Defining a bold vision for how the company must change, based on a clear-eyed analysis of its core competitiveness, now and in the future. Recalibrating in order to align leadership, manage change, create detailed and customized strategies that will produce the change they are looking for.
- What kind of transformation do you need?
- What is the right choreography?
- How should the transformation be managed?
Crafting that Full Potential Transformation plan is one thing, but executing it effectively requires the right leadership structure. And that I guess the first LESSON that I need to Learn is "Leadership".