Apr 17, 2018
Annual Performance Reviews don't work, yet companies still conduct them.
In this final chapter of this podcast topic, you will learn the modern approach that works so well with today's workforce. Stop wasting your time and get what you want to achieve from this activity.
Higher engagement and productivity = Improved Profit!
The topic of performance management can bring dread to managers and employees alike. But a successful system can positively impact the bottom line, provide a path for achieving goals, and increase employee morale. This resource center can help managers implement and maintain a successful strategic process.
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Regardless of the type or format of the selected method to review an employee's behavioral and work expectations, clear definitions of each level of performance must be provided. Raters should be provided with examples of behaviors, skills, measurements, and other performance factors to assist them in evaluating an employee. Several types of performance review systems are in common use. Each system has its benefits and drawbacks.
Lack of consistency
In most organizations, some managers are perceived as "tough" and others as "easy." This inconsistency may result in varied interpretations of an organization's performance rating scale as applied to employees in different groups. Managers must align in using the rating system so that inconsistencies do not occur. Despite training and the best of intentions, differences in the interpretation and application of the rating scale are almost inevitable.
Performance Management Documentation
An effective performance management program is beneficial to both the employer and employee. It helps employees correct any shortcomings to become valuable, contributing workforce members. This process is designed for "Fire Prevention," not "Fire Fighting" Catch missteps early and correct bad behavior or habits early so that the performance does not progress to a larger, more involved, and damaging situation.
Vaughn is the co-founder of Results-Driven Leadership. He is a leadership development expert, podcaster, and author. His methods are brought from his real-world experience working on the front lines and living the role of being a high-impact leader and manager. His coaching and training programs offer no theory, just common-sense advice, and direction. He is a former executive with CarMax, the world's largest and most respected company in the auto industry, and is a Fortune 100 Best Places to Work.
Vaughn's mission is to improve the impact of executives and other managers by increasing their knowledge, skills, and abilities.
His motto is "No matter what business you're in, you're in the people business."
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