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How Are You Measuring ROI Managerial Performance?

Got into an interesting discussion recently about how managers are measured relative to their job performance. During this dialogue I suddenly became aware of one of the major pitfalls in the measurement process.

What is getting measured has a direct impact on the performance of an organization – revenue growth or cost containment?

The truth is managers have found it much easier to cut or control costs than to focus upon revenue growth. In fact, most managers do not believe their functional group has anything to do with revenue growth. This is a sad yet truthful statement.

The reality of this point is any organization to have long term stability needs growth – especially organic revenue growth. There is a huge need for organizations to commit to having a sales based culture.

Identifying Your Existing High-Potential Talent

The second step of a successful Leadership Development Process is to identify all the high-potential talent within your organization. Obviously, you start this process at the top levels of the organization. Identifying the top potential of existing C-level positions assists in narrowing the field of candidates.

After the top group is identified, expand your search to include key functional position candidates. Who are the key potential candidates for every managerial / leadership position in the company. This activity will require the coordination of current leaders in functional areas and cross-functional areas with position contact experience.

The goal of identifying high-potential talent is to know where your future leaders could be in the organization. This also can identify current leaders who are doing an excellent or poor job of identifying and hiring talent within their functional areas. The better leaders are very capable of hiring the best talent for their groups. They are equally adept with developing their talent with challenging work, stretch projects, coaching or mentoring techniques, and educational opportunities.

These individuals should be in a focused performance management system. This system will track their progress and keep a detailed record of their improvement activities. This information will allow for controlled development of each individual in the system. The purpose is to have a large pool of talent available for promotion due to opportunities for additional growth or normal attrition. A lack of in-house developed talent requires a time consuming and costly search for experienced outside talent.

If you need assistance in determining the criteria for identifying high-potential talent, contact us. We have been assisting organizations in identifying and developing talent for twenty years. And we can help you too. Call us at 901.757.4434 during the hours of 9 to 5 Central Time USA to begin your leadership development process.

Coaching Performance Improvement

One of the major challenges for leaders is how to develop their people. Development is all about improvement in someone’s performance. Unfortunately, most leaders don’t know how to do this core function of leadership. Fortunately, it is easy to learn – given a desire to coach and improve others.

Coaching is a key skill for leaders and the sooner they learn how to coach, the fastest their people will grow into high performers. In order to coach others you will need to do the following:

Implementing Effective Performance Management

If performance management sounds complicated, you’re right. It is complicated because it plays a big part in the success of an organization, and anything with a high value isn’t easy. It requires focus and commitment, and it isn’t the same for every employee. So what is the good news? Take a look at the things you can do to make the role of performance management more effective and less complicated:

  • Work closely with the company’s executive or management team to create a clear picture of what your employee’s job is responsible for and how it fits with the company’s overall strategy. Document the results and refer to the job’s key accountabilities often.
  • If possible, conduct a job benchmark to get a true, unbiased representation of the job’s requirements for success so you can coach the employee in a way that matches these job requirements.
  • Share and discuss this information with the employee to be sure you both understand the job in the same way.
  • Use a personal assessment to uncover the employee’s behaviors, or how they communicate and go about the work, as well as what motivates them to take action. Understanding this from the beginning, rather than waiting for time to tell, will make performance management more effective and enjoyable right from the start.
  • Implement 360 degree assessments that utilize questions based on the same areas measured in the personal assessments. This feedback will allow you to consider others’ perceptions and how they compare to the employee’s self-perception.
  • Rather than a project management tool that tracks assignments you have given your employee, try a system that puts them in the driver’s seat. As the employee submits their own game plan for approval, they are learning how to prioritize their responsibilities in a way that fits the company’s overall strategy.

Once you have identified the right role of performance management in your company and have found ways to integrate each area of management into one, complete process, positive results will be seen at every level in the company.

What’s happening to Performance Management?

I’m asking this question about Performance Management because of a disturbing research item I found this week. While doing some keyword and trend research on Google, I found that U.S. managers searching for Performance Management were not in the top ten countries for this keyword combination. What is the reason for this?

While English speaking countries were leading the list – India, South Africa and U.K. – the USA was no where to be found. Do the US Managers, Leaders and Executives already know everything about Performance Management?

Well, not based upon what I have seen, heard and read about for the past decade. Performance Management is one of the most important processes that can be used by companies today. Yet, the execution of strategic goals and objectives continue to be a hit and miss exercise – with little thought about how can we execute the plan consistently? Enter Performance Management.

Objectivity in a Subjective World

In this subjective world where everyone has an opinion or position, how do you capture the consensus of the group? Most organizations use the subjective methods of “gut feel” or the SWAG method of determining what is going in within the organization. However, I believe there is another way that is more meaningful. Use assessments to bring objectivity to our world view.

Assessments can bring an objectivity factor to the discussions of what is making this group function? What are the Strengths and what are the shortcomings? Again, assessments to the rescue. This process can bring clear and accurate trends to the table for discussion and action commitments.

I have seen the results of an organizational survey open the eyes of key executives who had different and subjective opinions about the quality of their leadership – and get a good dose of reality. They were able to take this information and use it to communicate actions that were meaningful to their people – who in turn responded with positive actions that lead to positive results.

I have seen executives get feedback from their teams regarding specific performance issues using 360’s or specialty reports regarding the team dynamics. This feedback is used in an objective manner to influence the quality of future decisions and actions.

Assessments work for the good of an organization or group. Get an advantage through the use of assessments that give insight and understanding into what makes an organization work well. What strengths are we using well and what areas need to have a reality check regarding performance.

Performance Management needs objectivity to work properly. Assessments is one tool that should be used to uncover performance matrix and standards. Assessments can also tell us if our strategy is working for our team members. Again, objectivity is needed in a world full of opinions, ideas and assumptions. Clear the air and get the facts.

If you have any questions regarding the proper use of assessments in your organization, please contact us at 901-757-4434. We have over 20 years of experience in assisting organizations and individuals in the use of assessments and how to use the data to improve the quality of performance.