- Develop a feedback-rich culture and set up tools to encourage employees to give each other feedback.
- Separate the discussion about performance from discussions about potential and future career plans.
- Talk about performance regularly and let employees create their own goals on a regular basis.
- Assume that employees already know something about their own performance and force them to self-assess.
- Enable managers to assess performance regularly. Managers should give feedback regularly.
- Focus managers on hiring the best, so they build a team that strives for 100% performers.
- Find a better fit for people who don’t perform well enough.
- Set and reset goals regularly. Ideally every quarter (companies that set performance goals quarterly generate 31% greater returns).
- Beware of pay for performance plans. People tend to focus on their own goals at the expense of the organization’s goals.
- Give your leaders a solid cultural framework and set of values to work from.
- Invest in leadership development. Give managers time and tools to learn a framework for feedback and a continuous development process.
- Reward talent production not talent hoarding. In addition to encouraging managers to produce good work, incentive them to produce good talent as well.
Business thrives on agility, speed, passion and alignment. The process of driving and measuring performance has to do the same!
Thank you, Rebeca Gelencser