The senior directors of Total Compensation Solutions have extensive experience in the area of Performance Management.
TCS can help you develop a performance management system that fits with your pay for performance philosophy. We can also develop and deliver customized training so that managers and staff have the tools to utilize the system.
Call TCS about our Performance Management services at 914-730-7300 or email Tom Bailey.
Performance management is distinctly different from performance appraisals or performance evaluation. Unlike the latter two activities, performance management is an interactive on-going process that links the goals and objectives of the organization, departments, and individuals. Performance management is a tool to:
There are three key steps in the process:
Planning begins at the organization level where the organization identifies and communicates the critical performance measures for the year. At an individual level employees and managers meet to agree on the goals and performance measures and standards. It helps both agree on what has to be done and how it will be judged. Managing performance is an on-going process where the organization, managers, and employees monitor progress against goals, provide feedback, and develop mid-course corrections if required. Finally, appraisal is the formal process where results are reviewed, rated, and performance is recognized.
From a human resources perspective, performance management encourages employees to participate in goal setting and on-going monitoring and communication of progress against goals. A well designed performance management system should not result in surprises at the year-end review meeting.
Development of an effective performance management system requires