PERFORMANCE MANAGEMENT

. . . . creating an environment that works for everyone

• Performance Management is an important part of a larger system used to manage performance and actively engage individuals in support of the organizational goals and objectives
  

• The diagram below describes the linkage to the overall business and human resource management system:
  

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Needs to be Linked/Connected to the Overall Business and

Human Resource Management Systems?

Business Strategy

Business Plans

Management Development Process

-Capabilities Review

-Succession Planning

-Individual Development Plans

Year-End Evaluation

Mid-Year Review

Individual Goals

Performance Planning

Provides Input to:

1.     Performance Review

2.     Compensation Consideration

3.     Training/Development

4.     Job/Assignment  Options

There are three aspects of performance management: setting goals and/or standards, providing feedback and distributing rewards.

Goals and/or standards should reflect desired outcomes based on business strategy and direction.  The standards and goals may be established around values (what individuals do and how they behave) and results (what they accomplish or deliver). 

Feedback should be consistent with the monitoring and tracking of performance results against plan.

Rewards may include immediate financial (cash awards, bonuses, merit pay increases), longer-term financial (stock options, stock grants, long term incentives) and non-financials (development opportunities, advancement consideration, recognition, the work itself).  Together, standards and/or goals, feedback and rewards can help create the kind of environment, which allows individuals to contribute to their full potential in pursuit of organizational goals and objectives.

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Isaac C. Brooks, Jr.

July 2005