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Performance management and reward

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Performance management and reward

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Performance management and reward

  1. 1. Performance management and rewardPerformance Management is a term that has only been in use for the last 20 to 25 years. Itwas never used in workplace or business before. Performance management really onlyhas 3 different steps. It is very simple and very easy to understand. I will share with youthese 3 steps here.First step in performance management is Goal Setting. With goal setting it has to be a callthat you think is a bit hard for you to achieve. If you have made a $100 a week in the pastand you are setting your goal as $110 a week that is not right criteria for Goal Setting inperformance management. In performance management you should raise the bar to $200a week or $500 a week. This allows you to take initiative to learn new skills, master newstrategies, speed up or change your work ethics, make you more focused and othernecessary changes that are possible but you didnt think of before.The Second Step in Performance Management is Encouragement. You need to eitherencourage yourself to take action or you need a time (usually known as the mastermindteam) that encourages you take action. You get encouragement from fellow leaders andteam members that are dedicated to your success. When you think it is not possible oryou want to quit your they Encourage you to be consistent and persistent in taking action.Action is one step at time to your desired goal. Daily focused action is required for you tobe successful in your chosen field or in this case to reach your desired goal. You cannotclimb a big mountain in one day. But you can set up daily targets and move towards yourultimate goal in small steps. There are a lot of factors that will say you cant do it youcant make it. You have to learn how to shut that voice of the nay sayers and move ahead.The third step in Performance Management is Rewards and Consequences. When youtake action you should be prepared to face the consequences and should be receptive ofthe rewards.When you raise your goals bar you are willing to take risks you will make mistakes it ispart of your learning curve. It is easy to read a book but the real art is to implement theteachings. That is the number 1 reason why 97% of entrepreneurs are not successful asthey do not take these 3 steps of the Performance Management seriously. They are afraidto set their standards high as it allows more structured work ethics and discipline. Itdemands more of your excellence and it also demands to change your habits which is thetoughest of all. But for things to change for you you have to change. You need thismindset, you have to let yourself grow.So set the bar high, take action and be worthy of the rewards that follow. All the best andI sincerely hope this article on performance management is of help to you all.To your success,
  2. 2. Anshul ChoudharyOnline Marketer and Business Coachhttp://performanceappraisalebooks.info/ : Over 200 ebooks, templates, forms forperformance appraisal.

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