IBGR.Network - PROFIT Radio. Everything a business owner needs to start, grow or exit a business. Grow With Us. Introduction Performance Evaluations also known as Performance Appraisals is a process where job performance is measured, documented and evaluated. The evaluation of performance can be formal and/or informal. Early in the development of organizations things are very fluid and people are asked to step in and perform multiple roles. The performance evaluations during these early stages may be more informal, occurring over a series of conversations that are suitable for the changing environment. As the company grows there is a need to move toward formal performance evaluations that is part of a systematic approach used to help manage employee performance, and conversely employee engagement and success. Show Objectives This week’s show focuses on removing the fear from performance appraisals, by establishing formal appraisals that are actually engaging to your people, and not just judging them unfairly or suddenly. Done well you will find that Formal Appraisals can be a big positive in an organisation, but they do take focus to get them right. So why do they have the habit of generating so much fear and unrest for everyone involved. In essence formal appraisals were once mostly just used to judge success against very black and white parameters and metrics, often unexpectedly or without prior communication. This is where the fear associated with them stemmed from, being judged against things you may not be able to control directly. This never makes people feel safe or valued. The interesting thing is both employees, and the managers and leaders doing performance appraisals often dread the experience, or are downright scared. If this is the case in your business then we need to fix it as soon as possible! The experience needs to be supportive and positive, not fearful. After all a good formal appraisal system can actually make your people more engaged with your business…..I know that sounds counter intuitive,, as no one likes to feel judged but think about it for a moment. If you have nothing in place that you can control, and you know you are going to be called to task, you will always be fearful. However, if you have something that allows you to be clear on your expectations, and that is coupled with a supportive leader who helps you achieve it, then the performance appraisal becomes a different scenario, and this is what we want to achieve for you. Now I am not expecting everyone to come to FPA as the highlight of their day, but it definitely should not be something they are not scared of. Today’s show will help you get there and show you how to build, or revise your formal performance appraisal process for the greatest level of success for your people and your business. Key Issues
What You Need to Do
Key steps for Developing your Formal Performance Appraisals
So what is Performance Management? Can be defined as the process through which managers ensure employees activities and outputs are congruent with the organisation’s goals, it needs to match up, so to achieve this, we focus on 3 key points; There are three key parts to every performance management system, and this is what you need to focus on when you are working with your people to develop your Formal Performance Appraisals
All 3 need to present for an effective system that aids positive leadership and culture Key tips for a positive Performance review
Remember
If you keep Formal Appraisals interactive and clear, with a solid base in the job description, it will make all of the difference. Those companies that have the most success, have quarterly reviews which allow people to rate themselves and discuss the outcomes with their managers. Systems are in place to ensure everyone understands how they are rated and the ways in which they can achieve. This leads to not only more engaged people, but ones who are invested in the company, and feel supported. Hence, it largely takes the fear out of the formal performance appraisal process. The next step is to ensure the formal appraisals are linked to career or personal growth, so it makes the process more about individual needs not just company needs. This then allows your formal appraisals to become a point of encouragement and support, and not just a budget review. This means value creation is achieved and the fear drops away. This is achievable in any company. Shows Previous: Episode 8 How to Grow Your Business Success Through Continuous Improvement Next: Episode 10 How Leaders Become Authentic by Coaching, Mentoring and Displaying Empathy 11th of March Written by Lisa Askwith Director of ApexBRS | ApexBRS, Regional Director of See Global Media, Chair of EGN Singapore, and Associate Professor Cambridge Corporate University | At the Age of Change, Global Executive MBA and BBA. You can connect with Lisa on any of her platforms LinkedIn Lisa Askwith - Director - Apex BRS https://www.apexbrs.com/ https://www.facebook.com/ApexBRS https://tockify.com/ibgrnetwork/pinboard?search=lisa&startms=1602216000000 P3.09.4AA
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