3 Performance Management Tactics You Should Consider

09.03 blog

Motivating and retaining top-performing employees is a crucial element to talent management, and is one way human resources directly affects business outcomes. Looking to give your performance management strategy a tune up? Think about adding or improving these 3 elements:

Peer Recognition

Recognition from managers is always fantastic, but peer recognition is a great way to foster employee engagement. Engaged employees are productive employees, and productive employees can make all the difference. In fact, organizations with savvy recognition practices are twelve times more likely to have strong business outcomes.[1]

Ongoing Performance Feedback

If you want the best from your employees, you should consider ditching the yearly review. Employees, particularly millennials, desire more frequent feedback on their work and overall performance. 41% of organizations believe in-the-moment feedback to employees is “highly effective” at improving performance.[2]

Developing Core Strengths

Every person is going to have both strengths and weaknesses; while traditional management philosophies would advise to point out these weaknesses to employees so they can improve on them, today’s thinking has shifted towards developing those strengths instead. After all, changing an adult’s behavior and skills can be incredibly time consuming and difficult; instead, focusing on how that person’s strengths can be better cultivated and used is a more useful exercise. In fact, 73% of organizations believe that developing strengths, rather than evaluating weaknesses, is critical to effective performance management.[3]

These are just a few of the things you can be working on to improve performance management; to learn even more, check out our interactive infographic!

[1] Bersin by Deloitte, State of Employee Recognition

[2] Brandon Hall, Learning & Development Benchmark Study

[3] Brandon Hall, Learning & Development Benchmark Study

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