Performance management, reviews, and evaluations often get a bad wrap. Only 55% of employees feel that performance appraisals are effective. But, it doesn’t have to be just filling out a paper and talking awkwardly with employees you only see a few times a year. It can be so much more rewarding! How?
By creating a basis for your performance reviews that centers around your company’s core values. The result provides a process to make your organization and employees more successful by offering support and guidance where it is needed most.
Is your curiosity captured on how you can make this happen? Here are a few ways you can use company values to your advantage and integrate them to create a value-based performance management process:
Early on, it is important to make sure that both you and your employees have a complete understanding of what your company values actually are. 61% of employees don’t know their company’s mission statement. So, how can you expect your employees to perform adequately if the values they are supposed to support are unknown and haven’t been communicated?61% of #employees don't know their company's mission statement. How to fix this: Click To Tweet
Providing information on what your company strives and stands for will give employees something to base their work on and let them know what is to be expected of them. Use this opportunity to give a brief history or discuss goals and objectives the company has. Not only will this help them know how they should be performing, but it will also provide a sense of connection to the company and make employees feel more dedicated to their work.
Translate Values into Behavior
Once everyone has a clear understanding of what the main company values consist of, you need to consider how they will then be translated into actual behaviors. What will it look like when employees demonstrate a “clear connection to their work and the services they provide their clients”, etc?
These behaviors should change and adjust with each different department and team. You can not expect a developer to be rated under the same criteria as customer service when they do completely different everyday tasks.
Just 4% of HR leaders feel they are effectively and accurately assessing employee performance. To increase that number, these values and behaviors need to relate to what individuals are actually doing within the company and how they are performing within those major areas. To aid in this, and to not be subjective, it may be wise to meet with the employees themselves to get an understanding of what they do every day and what they feel they should be evaluated on.How many #HR leaders feels they are effectively assessing employee performance? The truth: Click To Tweet
Feedback is Still Important
Feedback, feedback, feedback! You’ve heard this said a thousand times, but seriously it’s important. According to PwC, nearly 60% of survey respondents reported that they would like feedback on a daily or weekly basis. But, that means they need to give you feedback too.
Since these values and behaviors are solely related to what an employee does, you need to get their feedback on the situation at hand. As a manager or CEO, your vision of what they actually do or what their process looks like could be skewed and entirely different from reality. Remember, these new performance guidelines need to be employee oriented. So, go to the source (employees) and ask!
Are your company values in tune with how you are evaluating your employees and your performance management process? Well, it’s time to get them on the same page! Get started evaluating today and use iRevü to provide the feedback and structure your employees need to be their best while also representing your company’s core mission. Take a free trial today!