Simplifying Performance Management
Performance management is often defined as maximizing the output of
every employee. However, we prefer a more approachable definition:
Performance = Output + Engagement.
Breaking Down Performance
- Results: Your objectives, OKRs, agreed upon with your
manager.
- Engagement: Your alignment with company values and happiness
at work.
Improving Performance
Two key factors contribute to improved performance:
- Great onboarding: Ensuring alignment with company values
from the start.
- Effective feedback cycles: Continuous alignment and understanding
throughout your employment.
The Power of Feedback
Feedback is the magical element that aligns everything. It can be used
to:
- Disagree with imposed goals
- Improve interpersonal relationships
- Enhance cross-departmental collaboration
The Impact of Feedback
Research shows significant benefits of regular feedback:
- Teams improve performance by over 12% (Zanger and Falkman)
-
Employees receiving regular feedback show 4x more engagement (Gallup)
Benefits for Employees
Better performance leads to:
- Promotions
- Raises and positive appraisals
- Increased self-awareness
- Improvements in both professional and personal life
The Importance of Frequent Feedback
Feedback should be as frequent as possible because:
- We tend to forget things over time
- Faster identification leads to quicker improvements
- It applies to both giving and receiving feedback
Continuous Feedback vs. Annual Reviews
Annual performance reviews are like getting directions after you've
arrived at your destination. Continuous feedback, on the other hand, can
lead to a 39% improvement in performance.
Balanced Feedback
Remember, feedback isn't just about pointing out mistakes. It's also
about magnifying strengths and encouraging positive behaviors.
