18 Dec What are the advantages of performance management?
Managing employees’ performance is a continuous process, making sure that the performance of employees contributes to the goals of their teams and the business.
An engaged employee is someone who takes pride in their job, shows loyalty towards their line manager, team, or company, and goes the extra mile. The way to manage performance should be fair to all staff and decisions should be based on merit. As such, when performance managing, managers need to be mindful not to discriminate.
All managers with responsibilities for performance management should have a clear understanding of how to manage performance effectively. This should include information on the objectives of performance management, how it will operate, and what their role will be.
So, what are the advantages of performance management?
Improved staff morale and staff retention
Setting clearly defined and measurable goals with your employees will increase morale and in turn staff retention. When employees understand what is required of them through targeted steps on how to achieve these goals, employees recognise that their employer values them and wants to invest time and energy into their career development.
Identify training opportunities
When employers identify weaknesses within an employee this should then be followed up by training opportunities. Giving employees the choice to move forward with their careers is key to developing long-standing and motivated staff.
When performance management is done correctly you can decipher which employee is causing issues and work together to find a solution to the issue. Employers can identify underachieving employees and support them through training and regular check-ins, helping them to feel valued.
Consistency in growth
Consistency is key when developing your team. The more feedback and training you provide the more you’ll get back from your team in return. Performance management helps employees see their future within your company.
Motivated employees are happy, longstanding, and productive employees. Performance management is the key to growth and company success. Booking in your one-to-one meetings and sticking to them demonstrates your commitment to your employees and this can boost their motivation.
Performance management reinforces strong company culture and can be used to give positive feedback to your employees. Use this time wisely with your employees!
If you would like advice on proactive best practice management to keep your employees on track and successful in their roles, please don’t hesitate to get in touch with our award-winning team of HR advisers. We can advise you on how to provide the best reviews for your employees.