5 vital ingredients of great performance management
DESCRIPTION
When it’s done well, performance management delivers 40% higher employee engagement and 25% lower turnover, an 18% growth in customer loyalty and a 15% boost to productivity. Unfortunately many companies focus more on the process than the conversation; meaning high costs, poor results and employees who’re left wondering if they’d be better off elsewhere. There’s no magic potion to guarantee your employees’ everlasting loyalty. Effective performance conversations are the next best thing. In this 30 minute webinar recording, you will: - Understand where performance management goes wrong - Explore the undeniable business case of getting it right - Get the 5 crucial ingredients you need - Learn how to make it happen using a new performance management cycle Speakers: Octavius Black, CEO, Mind Gym and Dr Sebastian Bailey, President, Mind GymTRANSCRIPT
Dynamic performance
management How to deliver more, with less, forever
Presented by:
Octavius Black, CEO, Mind Gym
Dr Sebastian Bailey, President, Mind Gym Inc
29 November 2012
Impact
A new performance management cycle
5 ingredients of dynamic performance management
Why performance management fails
Today
The business case
Better business with DPM
3 Fitz-enz, J. (2007) “Financial impact of HRM”, Workforce Intelligence Institute
Why performance management fails
4
Murky link between strategy,
goals, feedback, reward,
development and progression.
Everyone scores the same.
Reluctant managers focus
on process rather than the
conversation.
Individuals feel uninspired
about their future.
Responsibility placed either
on HR or with line managers
(and not with individuals).
1. Stretching goals with fortnightly feedback
5
Centrality bias
2a. Consistent differentiation
6 Prendergast (1999) Journal of economic literature.
2a. Consistent differentiation
7 Prendergast (1999) Journal of economic literature.
Leniency bias
2a. Consistent differentiation
8 Prendergast (1999) Journal of economic literature.
Normal distribution
2b. Which manager?
9
2c. Yesterday’s hangover
10
3. Commercial coaching
11
Manager tells
people what to do
Predominant focus
on the past and
what can be learnt
Spend more time discussing what the ideal future looks like
Apprentice relationship
‘Dialogue’ on issues where views strongly differ
4. Job crafting
12
5 Employees take responsibility
13
Performance management process
14
Performance management programme
15
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5 WEEK
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Go Large Workout Live Action Mission Booster Pledge
Impact
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