Performance Management is making people better at what they do for the company and provides the platform to build compensation planning, acquiring talent, energizing improved performance, and retaining values employees. Managing performance requires engaging the employee in taking ownership of their performance and rests on four pillars of engagement:
Promoting clarity of what must be achieved in what period of time to get successful results and how the results directly contribute to the goals of the company.
Performance is only one of several factors that determine employee compensation. Company profitability, market conditions, economic downturns, changes in the competitive landscape are among some factors outside of the performance management arena that affect compensation decisions.
Competent assessment and guidance of performance improvement are critical elements in promoting employee accountability and ownership of their performance. The focus of performance evaluation is accurately assessing results achieved against performance objectives set at the beginning of the review period. Employee self-assessment of their performance should always precede the manager’s assessment.
Sustaining employee performance improvements rests on a continuous dialogue with the employee focused on the employee taking greater ownership of their performance, initiatives in problem-solving work-related issues, and promoting their career development and aspirations.
Each of these four pillars is vital to the management and development of human capital within a company. In the absence of a comprehensive and integrated strategy to manage the growth and development of human capital within your company, any initiative on its own will be ineffective, disjointed, and inefficient. Cascone Consulting group can provide your management team with a conceptual framework for planning a comprehensive strategy for growing Human Capital within your company.
Contact us today to find out how we can assist you with building your performance capacity.