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5 Coaching Essentials To Look For In Your Next Performance Management System

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5 Coaching Essentials To Look For In Your Next Performance Management System

Published in: Leadership & Management
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5 Coaching Essentials To Look For In Your Next Performance Management System

  1. 1. Is your organization among the 70% that are reconsidering their performance management strategy? If so, here’s what’s next: coaching conversations. Why? Organizations that focus on having more frequent conversations outperform organizations that do not. As you consider a new process, here are the coaching essentials to include. ONCE-A-YEAR CONVERSATIONS Negative feedback during annual performance reviews does not motivate employees to improve. In fact, it has the opposite effect. CONTINUOUS COMMUNICATION & COLLABORATION Among companies with dynamic evaluation models, 88% are committed to recurring conversations. NOT ENOUGH FEEDBACK 65% of employees said they wanted feedback more often. FREQUENT FEEDBACK After companies remove rankings, managers talk to their employees 4 times more often. 43% of highly engaged employees receive feedback at least once a week. CHECKING BOXES 66% of employees say their current performance review process interferes with their productivity, and 65% say it isn’t relevant to their jobs. In fact, 30% of performance reviews actually decrease employee performance. A FOCUS ON FUTURE PERFORMANCE Organizations where employees review their goals at least quarterly were 4X as likely to score at the top of Bersin by Deloitte’s Total Performance Index. 8 FOCUSING ON THE WRONG THING Only one third of employees who get the highest score in their performance review are actually the organizations’ top contributors. THE WHOLE PACKAGE 77% of happy workers think their supervisor focused on their strengths (compared to 4% of disengaged workers). A COOKIE-CUTTER APPROACH 58% of executives believe their current performance management approach drives neither employee engagement nor high performance. PERSONAL ATTENTION Employees who thought they got to do their best stuff every day were 44% more likely to earn high customer satisfaction scores, 50% more likely to have low employee turnover, and 38% more likely to be productive. (AND 5 TO AVOID) DON’T SETTLE FOR: Interferes with productivity Isn’t relevant Decreases performance30% 65% 66% Reinventing performance management starts with increasing the quality and frequency of your employee-manager conversations. Want to transform your everyday conversations into great coaching? Contact us today to see how to put coaching to work for you. Sources: https://www.shrm.org/hr-today/news/hr-magazine/pages/0415-qualitative-performance-reviews.aspx http://www.gallup.com/businessjournal/20311/work-feeling-good-matters.aspx https://hbr.org/2015/04/reinventing-performance-management https://www.fastcompany.com/3052135/why-the-annual-performance-review-is-going-extinct https://www.officevibe.com/blog/infographic-employee-feedback InsideOut Development, 4 Reasons to Dump Traditional Performance Management, infographic http://blog.clearcompany.com/10-mind-blowing-statistics-on-performance-reviews-and-employee-engagement https://www.psychologytoday.com/blog/wired-success/201211/why-performance-reviews-dont-improve-performance https://dupress.deloitte.com/dup-us-en/focus/human-capital-trends/2014/hc-trends-2014-performance-management.html insideoutdev.com | 1.888.262.2448 Coaching that works. INSTEAD FIND: COACHING ESSENTIALS TO LOOK FOR IN YOUR NEXT PERFORMANCE MANAGEMENT SYSTEM 5 more productive 38% 44% higher customer satisfaction 50% lower employee turnover S ervice Awar d

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