The Move toward Social Performance Management
The annual performance review: to simply mention it conjures images of wasted hours, frustrating conversations, and disgruntled employees. However, the review process hangs on because it is a critical communication piece and the source of the annual compensation raise (or lack thereof, depending on performance).
As the pressure to ramp up productivity and output has only increased in the past decade, managers are looking for ways to streamline every facet of their business, and the review has not escaped notice. In the past five years, more and more businesses have come to rely on performance management software to help them update the review process. Now there is a better way.
Management is the next step for Managers
Businesses can do more than just digitize, they can now revolutionize the employee review process by utilizing social performance management. Social performance management is the next step for managers interested in accomplishing their business objectives while engaging top performers in spite of economic uncertainty.
The use of performance management software was the first step forward to improving the annual review, and the use of software, combined with the increase in managerial flexibility it created, has made the transition to social performance management possible.
Performance management allows both managers and employees to recognize that the key performance indicators are for both the company and the position, which in turn allows employees to align their individual performance goals with business objectives. The software component allows managers to see their progress and track the employees’ performance against set criteria. Managers and employees agree that this is a tremendous step forward from the archaic review process, which was often a stack of outdated projects, email streams and attempts to scrounge up outdated, task-oriented data for measurement. The next step is social performance management, which has clear benefits for the business, managers, and employees.
Social performance management capitalizes on the gains made by performance management then moves a step forward, bringing the constant communication of the modern world to bear for the business. This ongoing communication, when combined with a clear focus on business goals and personal responsibility, can help leadership teams create a thriving, high-performance business.
3 Key ways for Business:
- It facilitates a closer alignment to business goals throughout the company
- It makes real-time evaluations on specific tasks from various parties instantly available
- It allows the leadership team to see the strengths and weaknesses of the company quickly
3 Key ways for Managers:
- It eliminates surprises during annual reviews
- It creates a clear record of performance, productivity and work history with critiques from team members
- It enables managers to review employees more frequently, if they so choose
3 Key ways for Employees:
- It creates increased engagement with business goals
- It enables the creation of work goals that align with personal strengths
- It precipitates ongoing communication with the entire team, thereby increasing productivity and performance
Social performance management allows an organization to prime itself for the next generation of workers and better equip current workers to succeed. It is the next phase of the employee review—to leave things as they are would be like trying to build a modern business using only land lines, typewriters and the Yellow Pages. Is your business ready for the next phase?
Image courtesy of Stuart Miles at FreeDigitalPhotos.net