PMP focuses on creating alignment of company goals and individual employee goals. It’s about making sure everyone is rowing the boat in the same direction vs. going in circles.
Performance Management Process (PMP) is the overall process of managing the performance of your employees throughout their career with your company. This includes building employee’s competencies, improving employee performance and development, and driving better business results. It provides feedback, accountability, and documentation for performance outcomes. It helps employees to channel their talents toward organizational goals.
It is alarming to see how many companies with 50 employees or more who have no performance management process in place and have not identified their high and low performing employees! Creating a PMP will not only design a customized employee evaluation process for your business to determine high and low performing employees, but we will then devise a strategy for leadership to actively work with both employee populations.
Why is the Performance Management Process (PMP) so important?
You need to develop and retain your top performing employees, they drive productivity, increase revenue and profitability for your organization. Top talent needs to be clearly identified and retained by the company. With your bottom performing employees, you need to either coach them up to be better performers or manage them out of the organization. Your bottom performers continually slow your organization down and bring down productivity and engagement of your other employees. To achieve results you need to actively manage both groups to have a high performing organization.
The Benefits of a well-planned Performance Management Process:
- Improved organizational performance
- Alignment of company goals down to the employee level
- Employees are motivated to improve their performance
- Employee retention and loyalty
- Company goals are better communicated, understood and accepted
- Overcomes the barriers to communication
- Provides clear accountabilities and understanding of job responsibilities
- Employees are more engaged
- Provides clear performance feedback to employees
- Identifies high and low performers in the company
- Gives management better knowledge of team members
- Prevents larger issues through on-going discussion/feedback
Our Approach to the Performance Management Process
At HR Catalyst, we will work with you to create a customized performance evaluation program, help implement the process, and provide training to your leaders and employees. Once the process is fully integrated into your business it will be yours to run and administer.
We will be there to support the creation, implementation and dissemination of the process from start to finish with employee communications, project calendars, and other support tools to make sure the entire roll out and process goes smoothly. We customize each process for your company’s needs. That’s what makes us different from our competitors.
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