Why is performance management important? This is the fundamental system that aligns people, systems and resources to achieve business goals. Every role in your business should be linked to the achievement of your business plan. Every person performing those roles should understand their purpose and the impact they contribute to the business. A performance management system is a process for giving employees feedback on how they are traveling, which can be done formally and informally throughout the year. Some elements to consider when looking at your performance management system include:

• Are individual goals related directly to your business plan?
• Do you want to incorporate a bonus structure that is linked to the achievement of goals?
• Are you going to include behavioural elements not just performance goals?
• Is the individual goal setting going to be a collaborative process?
• Are you going to include team goals?
• What’s the rating scale going to include?
• Are individual goals going to be cascaded?

Should you want further help setting up a performance management system please contact Suzi@beyondmycircle.com