In rapidly changing times, it is difficult for an organization to cling to orthodox methods and systems- even when it comes to evaluating employees’ performance. Therefore, many companies have turned to agile performance management systems in recent years.
This nimble method empowers companies to
– Manage the performance of the employees with changing trends
– Survive in unpredictable times like the pandemic
– React quickly to changing market trends and up their game
Why an agile performance management system?
Employee performance is a major driving force behind any company’s performance. A sudden shift in performance management techniques due to changing business priorities can make the entire company suffer.
An agile performance management system helps the business fulfil its evolving needs and push the company’s growth forward, even during testing times.
How to implement an effective performance management system?
Set goals:
It is pivotal for companies to set standards that help evaluate the performance of employees and managers. Many companies are implementing a SMART goal system, which stands for Specific, Measurable, Achievable, Relevant and Time-bound. When combined and executed correctly, all these elements can help companies thrive.
Shun hierarchies:
Hierarchies are a thing of the past. The young generation prefers to work in an environment where they can collaborate with their seniors shoulder to shoulder. In an agile method, companies set performance management systems that involve all employees in the decision-making process, especially regarding employee work life. Gone are the days when managers used to review the employee’s performance, and the team members accepted the assessment as it came. Two-way dialogues are now crucial for any performance management activities.
Give honest and constructive feedback:
Feedback refers to comments on an employee’s performance during a specific period. The ultimate goal of any performance management system is to improve employee performance through honest and constructive feedback.
Focus on improvement:
Agile performance management systems focus on improving employees’ performance rather than demoralizing them for skill gaps. The assessment helps them grow as a professional and individuals. Therefore, many performance management systems involve employee training and development campaigns for their continued growth.
Give rewards and recognition:
Performance management activity is only fruitful if rewards, recognition and compensation are followed. For example, if the employee’s performance is below expectations, companies should find a way to encourage them through training. On the other hand, if employees pour their hearts into the work, the companies must appreciate them through rewards like salary hikes and promotions.
