You want to increase the performance of your team/department? Learn more about Performance Management, its philosophy & objectives.
What is Performance Management about? - Succeeding together!
The philosophy behind Performance Management lies in the recognition that the organization's performance directly depends on the willingness and ability of its employees. It is a holistic approach aimed at increasing both individual and collective performance through systematic methods.
While we acknowledge individual employee contributions, our approach focuses on the team level and all levels above it.
Performance Management encompasses much more than just evaluating performance
It begins with clearly defining goals and expectations for teams and departments, which should not only be quantifiable but also aligned with the organization's overarching strategic objectives. Progress and achievements are regularly reviewed in the process, issues identified, and opportunities for improvement seized.
This involves providing feedback and support to employees for performance enhancement. Furthermore, Performance Management includes proactive development and the adoption of best practices to foster long-term performance and a culture of improvement.
What are the goals of Performance Management?
1. Focused Control - "Doing the right things"
Ensure that the company moves in the desired direction by pursuing prioritized goals.
2. Achieving Business Objectives - "Doing things right"
Goals are integrated into the daily work of teams in a binding manner. Problems and obstacles are quickly identified and addressed through structured problem-solving.
3. Transparency
A comprehensive measurement of goal deviations provides company-wide clarity on the degree of goal achievement (target vs. actual comparison).
4. Collaboration
Continuous steering based on cascaded goals, as well as conducting regular dialogues, ensures that all business units, including cross-departmental collaboration, work together through aligned goals and communication.
5. Incentives/Motivation
Regular feedback and recognition create an environment where employees feel valued and appreciated, leading to higher job satisfaction and better engagement. Teams also recognize how their improvement efforts yield results and can celebrate successes together.
Outlook: In the next article, we would like to introduce you to the concept of the target operating model.
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