Managing People Performance
In order to successfully manage team members, a leader does only have to be proactive and insightful and motivating personality, but also possess managerial skills and understand the basic tools that can be used to evaluate team’s performance and understand whether company’s strategy goals are met. In order to design and implement an effective performance management system, a manager should define very clear and comprehensive job descriptions for each position within the company, ensure the employees’ goals and KPI’s are aligned with the strategic targets, setting accountability for performance expectations, encourage developing and learning motivation, team-working, collaboration and communication between the employees, providing platforms for regular feedbacks and acknowledging and awarding employee accomplishments. (Successfactors.com, 2015).
Another essential part of the performance management process is providing employees to grow and develop their skills and competencies by providing educational platforms within the company or reimbursing outside courses, seminars, etc. Employee promotions and terminations is an unavoidable part of the performance management process and in the light of possible legal consequences a manager must be well informed about the state and local labor regulations (Shiftiq.com, 2015).Every competitive and effective company starts its operating from developing its vision, mission statement and key strategic goals and objectives and operational need. Operational need is assessment is the process of defining the existing gaps in the company’s capabilities that are on the way to achieving the company’s targets and is usually done in the form of operational need statement (The MITRE Corporation, 2015).
In the circumstances when a company has to adapt to the fast-changing, turbulent market or economic turmoil, the operational need assessment can help to acknowledge to existing need for change, develop company transformation roadmap, and new business requirements (DecisivEdge, 2015). While mission and vision statements may be quite abstract, the strategic objectives should be easy to be expressed in quantitative figures, or a number of KPIs and KRAs. KPIs are the key performance indicators that can be used for both financial and non-financial goals and can be classified into four basic types, namely quantitative, practical, directional and actionable. Examples of KPIs could be anything, be it company profit targets in dollars, customer service time in minutes, a number of product defects in units, depending on the company’s type of business and the level at which they are being set (Chrmglobal.com, 2015).
Key responsibility area (KRA) is another tool that is used to assign roles, duties and responsibilities to employees. KRAs area scope of responsibilities that will have KPI’s within it. KRAs and KPIs setting allows an employee to understand their role and specific goals that will be used to evaluated their performance, which reduces employee stress related to inability to understand their manager’s expectations and at the same time eases the process of employee performance evaluation (Gabcanova, 2012).Employee performance evaluation procedure is another essential tool that is used to control whether the specific KRA and KPI goals are met. It recommended that managers conduct performance …
