6 Strategies for Effective Performance Management

Performance management is a challenging task of HRM and creating a work environment where you and your employees can perform well is not an easy task. But it is possible with the right strategies.

Effective performance management is about leadership, interpersonal relationships, constructive feedback, and teamwork. But when it comes to difficult HR tasks such as managing process, aggregating data, keeping other managers motivated to provide employees with useful feedback, there are strategies to make these activities more doable than before.

It is important to note that even these strategies that are discussed below fall under the umbrella of performance appraisal.

6 Performance Management Strategies

1. Define and communicate company goals and performance objectives: employees cannot meet performance expectations if they are not clearly outlined. There are modern software's for goal tracking which allows communicating these goals and objectives clearly. 
2. Use of Performance Management Softwares: Performance management software can really streamline performance management strategies. These software's will help both HR Managers and employees to act proactively so that the company will run smoothly and efficiently
3. Offer Frequent Performance Feedback: Most of the occasions companies focus more on one-way communications, not the other way around. Receiving feedback from the employees is as important as communicating company goals and objectives.
4. Use Peer Reviews: Peer reviews are useful because they allow coworkers to praise other coworkers and highlight positive aspects of their performance, as well as point out where improvements can be made. This offers the management some insights into an employee which cannot be obtained through employee feedbacks.
5. Preemptive Management and Recognition: Preemptive Management is all about communicating with your employees and letting them know what is expected, what is not, and how to meet the goals that have been set.
6. Set Regular Meetings to Discuss Outcomes and Results: progress reports or progress meetings are important because it allows Managers to see how things are going. These meetings could take place periodically weekly, monthly or as suited. This makes the progress feedback more accurate and allows you to make plans for moving forward.

These six strategies for effective performance management may seem simple, but they can work wonders when implemented into your company’s day-to-day life.

References

Sara Pollock. (2018) 6 Strategies for Effective Performance Management. [Online] Available from: https://hrdailyadvisor.blr.com/2018/01/11/6-strategies-effective-performance-management/. [Accessed 04th January 2020].