Performance Management for Today’s Workplace
Edie L. Goldberg, Ph.D.
President, E.L. Goldberg & Associates
THREE-PART MASTERCLASS
Brought to you by E.L. Goldberg & Associates,
in partnership with Engagedly, Inc.
This document contains proprietary material and should not be reproduced, either in total or in part, circulated, or quoted from without proper attribution and the expressed permission of E.L. Goldberg & Associates. 1
Trends and best practices in
goal-setting and feedback
Module 2
2
Of employees strongly agree their
managers provide meaningful
feedback to them
MODULE 2
More likely to be engaged
3.5x
23%
Source: Gallup, (2020) State of the American Workplace Report3
Agenda
● Goal Setting Theory & Practice
● Evolving Practices in Goal Setting
● Feedback
● Development
MODULE 2
Photo by NordWood Themes on Unsplash
4
Goal Setting
Goal Motivation
Theory
Clarity
Challenge
ComplexityCommitment
Feedback
MODULE 2
5
MeasurableIncludes specific levels of accomplishment and ways to let you know when the objective has been reached
SpecificFocused on a particular situation and defines specific actions or tasks
AchievableIs challenging and attainable
Time-boundAccomplished within a specific period of time
RelevantIs aligned with the organization’s goals or helps improve performance in your core function
Setting SMART Objectives
If the objective isn’t SMART, make sure milestones are6
S
M
A
R
T
How well aligned are employee goals to company
goals in your organization?
Very well aligned (best practice)
Well aligned in some parts of the company, but not all
Somewhat aligned
Not well aligned
Poll
7
Source: Gallup, (2020) State of the American Workplace Report
Of employees think their goals are
aligned with the company’s goals
MODULE 2
35%
Of companies say shifting priorities
make it difficult to set annual goals
2/3
8
Flexible, directional goals
Frequent discussions
Leveraging the power of purpose and meaning
Shift from Individual to Team-Based Goals
9
Evolving Practices in Goal Setting
MODULE 2
1
2
3
4
● Move away from cascading to alignment
● New, more agile goal setting methodologies
○ OKRs
○ FAST
Flexible & Directional Goals
10
1
Corporate Goals
Department Goals
Team Goals
Individual Goals
Corporate Goals Department Goals
Individual Goals
What is an OKR?
The goal is to ensure everyone is moving in the same direction with clear priorities.
It describes what you will do and how you will measure achievement.
OKR is a goal setting methodology. It has two main components:
This is the overall outcome you want to achieve.
These are the metrics that will define success for your objective.
11
Objective Key Result
Images by Freepik.
What is the FAST Goal Setting Method?
12
F
A
S
T
Frequent Discussion Goals should be embedded in ongoing discussions to review progress, allocate resources, prioritize, and provide feedback & coaching.
AmbitiousGoals should be difficult but not impossible to achieve.
SpecificGoals should be translated into concrete metrics and milestones that force clarity on how to achieve each goal and measure progress.
TransparentGoals and current performance should be made public for all employees to see.
Frequent Discussions 2
13
9/10 people would be willing to earn less money to do more meaningful work-Achor, Reece, Kellerman & Robichaux (2018)
14
Leveraging the Power of Purpose and Meaning
3
Team-based goals:
● Drive effort & energy
● Facilitate communication & cooperation
● Result in more positive outcomes
15
Individual vs. Team Based Goals4
What are your best practices in goal
setting?
Discussion Question
16
MODULE 2
17
Feedback
Importance of FeedbackWhich element is most important to driving motivation and performance?
Setting goals and objectives
Colquitt & Goldberg (2020)18
None of the above drive motivation/performance
Linking pay & performance
Evaluation/Ratings/Differentiation of performance
Feedback & coaching
Zenger & Folkman: Retention
Zenger, J., and Folkman, J. (2015). Talent Quarterly, p. 31-3819
Employee retention is significantly higher when managers provide frequent and effective feedback.
Managers Have Gotten the Message About Feedback – They Just Aren’t Good At It
20
Rate the skills of your managers in providing effective feedback & coaching?
Creating a Performance Feedback Culture Pays Dividends
Use of PFC Practices Net Profit Margin ROI ROA ROE
Top 1/3 12.08% 14.63% 7.68% 26.26%
Middle 1/3 7.48% 7.96% 4.89% 19.71%
Bottom 1/3 5.09% 6.51% 3.65% 10.63%
Ledford, G.E. & Schneider, B. (2018). Performance Feedback Culture Drives Business Impact. Research Report sponsored by CEO & i4cp.21
MODULE 2
Contemporary Research Driving Today’s Practices
22
Growth Mindset (Dweck)
23
Fixed Mind-setIntelligence is static
Growth Mind-setIntelligence can be developed
...avoid challenges
Leads to a desire to look smart and therefore a tendency to...
Leads to a desire to learn and therefore a tendency to...
...embrace challenges
...give up easily
...see effort as fruitless or worse
...ignore useful negative feedback
...feel threatened by the success of others
...persist in the face of setbacks
...see effort as the path to mastery
...learn from criticism
...find lessons and inspiration in the success of others
CHALLENGES
OBSTACLES
EFFORT
CRITICISM
SUCCESS OF OTHERS
As a result, they may plateau early and achieve less than their full potential.
All this confirms a deterministic view of the world.
As a result, they may reach ever-higher levels of achievement. All this gives them a greater sense of free will.
Neuroleadership (Rock)
Source: Dr. David Rock. SCARF; a brain-based model for collaborating with and influencing others. NeuroLeadership Journal 2008 Image by Freepik.
24
S
C
A
R
F
Status
Certainty
Autonomy
Relatedness
Fairness
Goldsmith, M. (2015)25
Feedback Feedforward
360 Feedback
Self
Manager
PeerDirect
Reports
Customers
360-Degree Feedback – What is It?
26
● For Development
● For Decision Making (input to
Performance Evaluation)
● Crowdsourced Feedback
360-Degree Feedback – What to Consider?
27
MODULE 2
Recognition from one’s manager, peers, or customers is much more memorable than financial rewards.
Recognition
28 Gallup, 2017
MODULE 2
● Intentionality
● Consistency
● Ask for feedback from co-workers
● Give feedback to others
What’s Different About Feedback in a Hybrid/Remote Environment?
29
MODULE 2
Development30
Development Planning Drives Performance
Managers in high performing
companies were 2x as likely to
create development plans for
their employees.
i4cp’s Performance Management Survey, 201231
32
What is the Focus of Development in your company?
Developing weaknesses
Developing new skills
Developing or leveraging strengths
All of the above
None of the above (we don’t have a development
process)
Poll
70:20:10
How Effective Development Happens
20% learn from
others
70% learn by doing
10% learn through
formal training
33
● On-the-job tasks● Cross-functional projects● Gigs● Job changes and rotations● Special assignments
● Ongoing feedback and coaching
● Mentoring● Working with role models
● Instructor-led programs● E-learning● External conferences and
seminars● Suggested reading
How will you make development more of a focus in your PM Process?
Development Planning
MODULE 2
34
● Goal setting is critical for motivation and alignment
○ But they have to be agile!● Move from feedback to feedforward (coaching for performance)
○ Train managers● The manager should not be the only source for feedback
● Development – Just do it!
Summary
35
MODULE 2
Edie L. Goldberg, Ph.D.President, E. L. Goldberg & Associates
36
Thank You!
Brought to you by E.L. Goldberg & Associates,
in partnership with Engagedly, Inc.