9 Profound Reasons Why You Need a Robust and Effective Performance Appraisal Process
Working across 3 continents, it is staggering to see how many organisations, across all sectors, don’t have effective performance appraisal processes in place.
How do you appraise performance if you don’t? A quick discussion ‘on the run’ won’t cut it, neither will a once every two-year chat over coffee!
Performance appraisals need to be regular and ongoing (even daily) with the formal appraisal done once or twice yearly.
The strategic advantage of an effective and robust appraisal system are that they:
- Track Organisational progress
- Assess what tasks are being completed and the state of relationships within teams, departments and the Organisation overall
- Grow your people
- Assess where skills may be lacking
- Enable Leaders to put development strategies in place for their people in order to improve competencies and capabilities where necessary
- Identify gaps that may occur in Organisational strategies due to incompetence or a missing skill set
- Encourage staff to strive for greater competence in order for them to peruse career development opportunities
- Identify star performers and as a result fast track them up the leadership pipeline
- Identify poor performers
Simply if you are not serious about ongoing performance management, you are costing your Organisation money. Big money!