1. Performance based conversations
Managers get busy with day-to-day responsibilities and often neglect the necessary interactions with staff that provide the opportunity to coach and offer performance feedback. A performance management process forces managers to discuss performance issues. It is this consistent coaching that affects changed behaviors.
2. Targeted Staff Development
If done well, a good performance management system can be a positive way to identify developmental opportunities and can be an important part of a succession planning process.
3. Encouragement to staff Performance
Appraisals should be a celebration of all the wonderful things an employee does over the course of a year and should be an encouragement to staff. There should be no surprises if issues are addressed as they arise and not held until the annual review.
4. Rewards staff for a job well done
If pay increases and/or bonuses are tied to the performance appraisal, process staff can see a direct correlation between performance and financial rewards.
5. Underperformers identified and eliminated
As hard as we try, it is inevitable that some employees just won‘t ―cut the mustard‖ as they say. An effective performance management process can help identify and document underperformers, allowing for a smooth transition if the relationship needs to be terminated.
6. Documented history of employee performance
It is very important that all organizations keep a performance record on all employees. This is a document that should be kept in the employee‘s HR file.
7. Allows for employee growth
Motivated employees value structure, development and a plan for growth. An effective performance management system can help an employee reach their full potential and this is positive for both the employee and manager. A good manager takes pride in watching an employee grow and develop professionally.
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