Current development in performance management
Performance management has always been an important part of every business as the focus is on the performance in an organization.
In short, with performance management, the focus is on the following question:
As a company, what do you need from your employees in order to achieve your goals?
What do the company's employees need to achieve their goals?
New forms of work
The trend is moving away from the classic standard solutions for performance management and more in the direction of innovations in the design of performance management.
In the future, flexible working hours, new forms of work and digital solutions will be the standard. The well-known “9 to 5” jobs are no longer the norm and, especially during the Covid pandemic, the chances of success of new forms of work (home office etc.) became clear.
The focus on the reward is supplemented, expanded and partially replaced by short-term development and learning-related instruments. The motivation of employees can thus be increased with adapted reward systems and development opportunities.
Variable remuneration will continue to be an essential part of individual remuneration in many companies, but “shifts” towards fixed remuneration are to be expected.
Leadership development
The current development of ideal performance management follows a transformational, development-oriented understanding of leadership. This is understood to mean the manager as a mentor and role model, performance is not the focus of management. The focus is on giving employees more personal responsibility for the performance management process.
The continuous dialog instead of the annual employee appraisal is recommended for managers - new forms of feedback are required, away from the old evaluation systems!
Objective
Delete your cascaded annual goals and question your formulation of goals.
The development in performance management is moving away from SMART-formulated goals and towards the 3Ps.
Purpose (i.e. the purpose)
Process (the way to the goal)
Payoff (the reward of our efforts)
What is our purpose? (PURPOSE)
It is important to note the why. For example, why should a meeting be held, what is the purpose of this action. Because without clarifying the reason, no meaningful goals can be set.
How should the goal be achieved? (PROCESS)
The second step is about the processes and measures to achieve the goals. What are the priorities, which techniques are used and what are the expectations? These are essential questions before setting a goal.
Why should we achieve the goal? (PAYOFF)
Finally, it is about clarifying the benefits. What are the benefits after achieving the goals. This not only makes it easier to find the right goals, but also promotes motivation to really achieve the goals.
As you can see, this method of goal setting is about the performance and motives of the actual goal.
Finally, it should be noted that performance management should be adapted to the respective corporate culture.
"Only those who burn themselves can kindle fires in others."
Augustine
