A successful performance management system plays an integral role in your ability to attract, develop, and retain a high performing workforce. Outlining and executing a strategy in which all elements of that system work together enhances its impact and the speed at which you can attain your business goals.
At MRA, our experts work with you to create an effective performance management system that provides the framework for driving a high-performance culture. Components to consider when designing your system include:
Competency Determination and Management
Which competencies support future success and how do those differ by area within your organization? Which current competencies will be less important or not important to your organization’s future?
Assessments for Strengths, Talents
How can assessment instruments be used to determine if an employee possess the “competencies for success”?
Succession Management and Leadership Development
How will you identify emerging leaders and escalate their talents – coaching, mentoring, networking, or training?
How do your compensation practices dovetail with the overall goals of the company? How do they serve to incentivize individuals and teams?
Performance Appraisal Tools and Processes
Do your performance appraisal tools and processes reinforce desired competencies and behaviors? Do they serve as an extension of your organization’s culture?
The more each piece supports the other, the stronger your system, your culture, and your ability to advance business goals. A performance management system is a powerful tool to establish your sustainable competitive advantage.