Was Your Performance Management Strategy A Failure?

by Srikant Chellappa Aug 23,2020
Engagedly
PODCAST

The People Strategy Leaders Podcast

with Srikant Chellappa, CEO

Many organizations had big plans for 2020’s performance management. It all looked so amazing on the paper and you expected it to work like magic. But just like all the other killer plans this year, the performance management strategy you designed for your organization didn’t work.

You realize with regret that despite your best efforts, your performance management strategies failed hard. Before you fall into a deep funk, stop! Let us open your eyes to the reality. Performance management strategies fail all the time. So, do not just scrap the whole plan and begin with a new one. It is important for you to understand and evaluate your current strategy so that you can create a better one the next time.

So, ask these questions to evaluate your current performance management plan.

Recognize The Areas Of Failure

It is only human tendency, not being able to move on easily from a failure. Take your time, to digest the fact but after you do, take a long hard look at your plan and the end results of the plan.

Also read: 7 Questions That You Must Ask In A Performance Review

Look back at what your actual plan was and what you aimed to accomplish with this plan. Every performance management strategy comprises of various aspects, it could be possible that your strategy failed only due to a certain aspects of it. Recognize these areas of failure so that you can strike them off the list the next time you are preparing a new performance management strategy.

Understand The Positive Aspects Of The Plan

Again, when you are evaluating the negative aspects of the performance management plan, do not forget to give yourself a pat for the aspects that were actually well-planned. Make a note of these positive aspects of your plan. There can be various aspects in a performance management that work no matter what the other factors (Size of the organization, number of teams, ROI of each team etc. )are.

These are probably things that you can tweak and re-use in your performance management strategy for the next year.

Does It Just Need Modification Or Do You Need To Scrap The Whole Plan?

This is quite a challenging question to answer. Well, here’s a quick interesting fact you might want to look at:

On an average, managers spend about 210 hours on annual employee performance reviews

So, if you have already made a plan, you know how much time it takes to come up with a new strategy altogether. So, the results from the above two questions will help you answer this question better and save your time and energy.

 


Engagedly is offering a suite of products part of its Remote Work Toolkit free to any organisation, until Sept 30th, 2020. 

The Coronavirus has affected the way we work today and for months to come. Unprecedented events require unprecedented measures. We at Engagedly believe it is our responsibility as socially conscious corporate citizens to help equip organisations with additional tools and resources during this time of crisis.


Do you want to know how Engagedly can help you with your performance management strategy? Then request for a live demo

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Author
Srikant Chellappa
CEO & Co-Founder of Engagedly

Srikant Chellappa is the Co-Founder and CEO at Engagedly and is a passionate entrepreneur and people leader. He is an author, producer/director of 6 feature films, a music album with his band Manchester Underground, and is the host of The People Strategy Leaders Podcast. He is currently working on his next book, Ikigai at the Workplace, which is slated for release in the fall of 2023.

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