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Performance management October 2013
This document provides an overview of performance management. It discusses defining performance expectations, providing feedback and conducting reviews. Key aspects covered include developing goals, monitoring progress, rating and rewarding performance. The document outlines how to select metrics, build engagement and trust, and handle high and low performers. It also provides strategies for ensuring legal compliance and creating a high-performing organizational culture focused on continuous improvement.
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Performance management October 2013
- 1. Effectively managing performance byToronto Training and HR October 2013
- 2. CONTENTS 5-6 7-8 9-10 11-12 13-14 15-16 17-18 19-20 21-22 23-24 25-28 29-30 31-33 34-38 39-40 41-46 47-48 49-50 Definition The process ofperformance management Aspects of performance management Disciplines of execution Pay for performance Creating and implementing a balanced scorecard Selecting the right metrics Components of human work processes Motivation and performance Employee engagement Performance reviews Trust Legal considerations High achievers and low performers Key components for world-class performance Organizations which are high-performing Ensuring performance management is a success Conclusion and questions Page 2
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- 4. Introduction to TorontoTraining and HR Toronto Training and HR is a specialist training and human resources consultancy headed by Timothy Holden 10 years in banking 10 years in training and human resources Freelance practitioner since 2006 The core services provided by Toronto Training and HR are: Training event design Training event delivery Reducing costs, saving time plus improving employee engagement and morale Services for job seekers Page 4
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- 7. The process of performancemanagement Page 7
- 8. The process ofperformance management • Define performance expectations • Provide ongoing feedback and coaching • Conducting performance reviews and evaluation discussions • Determining performance rewards/consequences • Undertaking development and career opportunity discussions Page 8
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- 12. Disciplines of execution •Focus on tremendously vital objectives (TVO) • Act on the lead measures • Keep a compelling scoreboard • Create a culture of accountability Page 12
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- 14. Pay for performance • • • • Stability Easeof measurement Designing a plan Merit pay grids Page 14
- 15. Creating and implementing abalanced scorecard Page 15
- 16. Creating and implementinga balanced scorecard • Collect historical data from the organization • Sort out and prepare the final database • Determine and identify the numbers of strategic perspectives and performance indicators • Construct the cause and effect link between all strategic perspectives • Operate this management tool for long-term planning Page 16
- 17. Selecting the rightmetrics Page 17
- 18. Selecting the rightmetrics • Define your governing objective • Develop a theory of cause and effect to assess presumed drivers of value • Identify the specific activities that employees need to do in order to achieve the governing objective • Regularly re-evaluate the chosen statistics to ensure that they continue to link employee activities with the governing objective Page 18
- 19. Components of human workprocesses Page 19
- 20. Components of humanwork processes • • • • • • • Direction setting Clarifying roles Planning and aligning performance Monitoring and measuring Enabling and enhancing Assessing and evaluating Recognizing and rewarding Page 20
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- 24. Employee engagement • Fullyengaged • Not engaged • Disengaged Page 24
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- 26. Performance reviews 1of 3 • • • • • Formats 360 degree feedback Errors An effective process Preparation Page 26
- 27. Performance reviews 2of 3 TRENDS • Preset performance objectives for individuals • Discussion of development held separately from the performance review • Competency models which are based on strategy • Competencies • Calibration meetings to compare ratings by different managers • Ownership of performance management by line management
- 28. Performance reviews 3of 3 AMENDMENTS • Change what is rated • Change the rating scale • Change who rates • Change the objectives Page 28
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- 30. Trust • Leader behavioursto build trust • Employee responses Page 30
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- 32. Legal considerations 1of 2 • Evaluate employees on job-relevant factors • Inform employees of expectations and evaluation standards in advance • Have a documented process with specified roles for managers and employees • Train managers and employees on the performance management process and relevant skills Page 32
- 33. Legal considerations 2of 2 • Document justifications for rewards/decisions by managers • Provide timely feedback on performance issues • Allow employees to formally comment on and appeal evaluations • Make sure evaluations used for decision-making are consistent with decisions Page 33
- 34. High achievers andlow performers Page 34
- 35. High achievers andlow performers 1 of 4 • Carefully select who will be important for you to invest time, energy and other resources in to developing their performance • Keep hope alive for all performers, even those who are chronically low • Cut your losses relatively early Page 35
- 36. High achievers andlow performers 2 of 4 ADDRESSING CHRONIC LOW PERFORMERS • If after setting clear expectations, monitoring their performance, providing feedback, coaching them and letting them know the consequences of underperforming…let them go • If the organization can’t afford to let low performers go in order to keep operating, then reassign them Page 36
- 37. High achievers andlow performers 3 of 4 MANAGING LOW PERFORMANCE • Plan a face-to-face meeting • Spend time preparing • State the facts clearly • Shut up and listen • Write it down • Use your judgement • Recognize improvements Page 37
- 38. High achievers andlow performers 4 of 4 CHALLENGES AROUND LOW PERFORMANCE • We will always have people where performance could be improved • Performance management processes are likely to stay trivial for a number of years to come • Training people does not always work Page 38
- 39. Key components for world-classperformance Page 39
- 40. Key components forworld-class performance • • • • • • Page 40 Technical Tactical Mental Physical Contextual Emotional
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- 42. Organizations which arehighperforming 1 of 5 FACTORS TO CONSIDER • Management quality • Openness and action orientation • Long-term orientation • Continuous improvement • Employee quality Page 42
- 43. Organizations which arehighperforming 2 of 5 STEPS TO DEVELOPING A HIGHPERFORMANCE CULTURE • Motivate change • Lay foundations • Sustain behaviour • Monitor and improve Page 43
- 44. Organizations which arehighperforming 3 of 5 WHAT DOES A HIGH-PERFORMING ORGANIZATION LOOK LIKE? • The right people in the right roles, focused on what matters most • Organizational design that encourages the right balance of wider collaboration • Ways of working that help people to be productive and fulfilled Page 44
- 45. Organizations which arehighperforming 4 of 5 BECOMING A HIGH-PERFORMING ORGANIZATION • Find out what employees know and don’t know • Formulate objectives with employees and roles to play • Evaluate the impact on employees • Determine with employees the resources needed • Make sure everyone continuously receives information on progress Page 45
- 46. Organizations which arehighperforming 5 of 5 BECOMING A HIGH-PERFORMING ORGANIZATION (CONTINUED) • Ask employees for feedback on un Page 46
- 47. Ensuring performance management isa success Page 47
- 48. Ensuring performance management isa success • • • • • Communicate the big picture Set SMART objectives Give effective and regular feedback Prepare and train managers Differentiate based on contribution not remuneration • Identify opportunities for learning & development Page 48
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