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News - 30.03.2021

Posted by Megan Fairclough

News - 30.03.2021

What are the Most Common Goals of Performance Management?

Performance management objectives vary from business to business. There are, however, certain goals that are present in almost any performance management strategy. The three most common performance management goals are; developing people so that they can reach their full potential, rewarding people for their contributions, and driving overall organisational performance. 

But what do these goals all have in common? 

They all involve increasing employee engagement and motivation, giving employees a desire to meet larger organisational goals. By focusing on helping develop employees, aligning organisational goals, and providing rewards, managers can provide meaningful and relevant support.

The three most common goals of performance management:

Developing people

Performance management gives us a vehicle whereby we can identify the training and development needs of employees. We can use performance management to engage people and figure out what support they need in order to progress. It gives you an opportunity to share and receive feedback so that you can streamline processes and make the work-environment a place where employees can grow.

A key factor in performance management is evaluating people’s progress. Performance management is a tool that enables managers to keep pushing employee development. It’s a vital component in the establishment of clear goals and it’s a means of offering useful and consistent feedback. This provides a basis to help people succeed. 

Rewarding people

Performance management allows us to reward and acknowledge people’s efforts. Many employees thrive in performance based environments and so rewards become a key motivator. An effective reward system can really inspire reward-driven individuals. When implemented to a high standard, reward systems can contribute towards enhanced productivity and a high standard of work.

Driving organisational performance

When business, individual and team goals are aligned, we can drive organisational performance as a whole. A well structured performance management system will contribute to overall organisational goals through the individual management of people within that organisation. 

The performance management process allows us to set goals with individuals and measure their success with achieving these goals. Any shortcomings can then be met with feedback, allowing the employee to get back on track. When people’s performance is properly managed, they’re given the advice, space and tools they need to reach goals. The accomplishment of these smaller goals supports the accomplishment of larger organisational goals.

Transforming your workplace culture with performance management

Without a performance review system in place, we would struggle to clearly define roles and goals within our organisation. Employees might not be aware of their weaknesses or more importantly, their strengths. We wouldn’t have a basis for providing feedback and offering support where needed. We wouldn’t have a means of rewarding positive behavior. A performance review system makes it easy for managers to effectively lead employees in the right direction. We can use performance management to transform our workplace culture with improved communication between managers and their people.

Our Tandem offers a performance management solution that can help you efficiently and effectively manage your people. Our system has new tools and solutions to help shape a workplace culture that allows employees to thrive. It not only enables a more efficient way of managing performance but it gives employees a voice in your organsiation through an open and ongoing feedback process. Book your demo today and find out what Our Tandem can do for you.

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