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Whitepaper

6 Steps to performance management best practice

For many small to medium-size companies, finding the time to proactively manage employee performance is difficult. The emphasis is more often on increasing revenues and achieving stability, especially in the early days. However, as businesses grow, the need for improving staff engagement, productivity and loyalty becomes increasingly important. It is at this critical stage that Performance Management can mean the difference between businesses that experience sustained growth and those whose momentum falters. Even when organizations are aware of the importance of performance management, the tendency is to carry it out in an ad hoc manner. Such methods work with a low headcount, but as this increases, more formal processes are needed. An enormous body of research has shown time and again that consistent employee feedback plays an important role in the success of larger organizations:For many small to medium-size companies, finding the time to proactively manage employee performance is difficult. The emphasis is more often on increasing revenues and achieving stability, especially in the early days. However, as businesses grow, the need for improving staff engagement, productivity and loyalty becomes increasingly important. It is at this critical stage that Performance Management can mean the difference between businesses that experience sustained growth and those whose momentum falters. Even when organizations are aware of the importance of performance management, the tendency is to carry it out in an ad hoc manner. Such methods work with a low headcount, but as this increases, more formal processes are needed. An enormous body of research has shown time and again that consistent employee feedback plays an important role in the success of larger organizations:

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