Many organisations in their quest for modernity and relevance in the real world are ditching the formal annual performance appraisal in favour of a process of continuous performance management.
Whilst some organisations still hold on to antiquated systems that do little to increase performance, others have realised that to generate higher levels of performance they must engage with their employees on a more regular basis.
What these forward thinking organisations have discovered is that by setting performance goals more frequently, they can deliver much greater returns. In fact, it is reported that organisations that set quarterly performance goals generate 31% greater returns than those that do it annually.
Good Managers know that forming a clear and shared understanding of ‘what is required’ is essential, especially in today’s fast paced workplaces, where more regular reviews help to keep people, plans and projects on track.
But is more regular goal setting really sufficient to create the conditions required for high performance?
Well, it may be one factor. However, in isolation, goal setting is unlikely to create the sea change needed for organisations to get ahead in a far more volatile, ambiguous and complex environment.
A new way of harnessing human capital is needed. Managers need to build and flex new muscles that help them to continually question and re-assess. They need to become masters of reinvention to enable them to deal with the barrage of change that comes their way.
Great Managers understand that they need to move away from this notion of ‘managing performance’ and instead focus on how they can ‘enable performance’ which is much more about creating an engaging culture that changes the conversation within the organisation and engenders high levels of curiosity. Through ‘enquiry’ Managers can enable greater levels or engagement, contribution, and performance.
Unquestionably, for many Managers, this begs a significant change in behaviour – a rewiring of what they think they ‘know’. However, people can and do adapt and learn. Beliefs can change and people can become attached to new mental models - this is central to enabling performance.
Download our whitepaper – A New Frontier: Re-inventing Performance Management for Commercial Success - to find out exactly how you can help your Managers to become effective enablers of high performance.
Notion Ltd is a global expert in behaviour change. To find out more visit us at www.BusinessCoaching.co.uk or for an informal chat about managing performance in your organisation call us on +44 (0)1926 889 885.