There are different perspectives regarding performance development. Business leaders tend to share some common views due to their experience within their industries. Generally, though, they assert that the only factor that stifles organizational growth is the ability to recruit a superior workforce. Instead, it would be more efficient and cost effective to grow existing talent from within your organization.
Make the Performance Development Planning Meeting Successful
It’s crucial to actually plan out performance development. Conducting meetings regarding this periodically is important. According to known figures, performance development is said to be at least 70% higher with proper planning. The foundation of this success lies in planning performance development and ensuring that meetings regarding this is successfully conducted. Scheduled meetings for performance development helps you define pre-work with staff members. This allows you to:
- Review Personal performance (each quarter)
- Generate goal ideas on business and personal developmental
- Obtain 360 degree feedback results
Personal Developmental Goals
Staff members align their personal goals with the goals of the organization. This is indeed encouraged as part of the performance development process. Aligning personal and organizational performance goals increases organization stability and growth by more than 50%. While employees have an immense opportunity to build their careers around the organization’s performance, the organization also gains immensely.
Two key elements of Performance Development include:
- Goal setting is of key importance
When considering the gains for performance development, it’s important to answer two questions:
- Does developing managers professionally make a difference to the organization?
- What elements ensure the best output from managers?
Key Findings from Study by Center for Business Performance
The Center for Business Performance studied the practice of management development in seven organizations over 12 months. It focused on testing the impact of management development on business performance in a larger setting.
The results of the study revealed that:
- Management development delivers better business performance.
- Service levels, quality and customer satisfaction all counted in business performance.
- Companies with better business performance were more profitable
- Organizations with better business performance have better sales margins
- Enhanced managerial performance directly produced better results
It’s important to consider the manner in which employees are given importance in developing an organization, and specific departments have a huge hand in making this possible. Finally, the role of HR can’t be ignored in developing employees. Therefore, they play a pivotal role in ensuring performance development.