The Performance Management systems at most places are considered biased by large segments of employees. In a recent survey, two-thirds of the respondents had made at least one critical change to their Performance Management systems in a year or so before the survey.
Human Resources departments at many organizations are now abolishing the unpopular "forced curve" employee ranking systems, changing relatively identical compensation regimes, and critically analyzing employee data to find out the real drivers of motivation and performance. However, not much progress has been made in this regard, as employees still complain that the performance evaluation input they get feels prejudiced and inconsistent with their work.
Many well-meaning Performance Management systems run the risk of failing, unless a sense of fairness underlines them.
This deck highlights the importance of "fairness factors" in Performance Management. It explains 3 priorities for addressing them; and demonstrates how the skillful utilization of coaching and rewards can bolster a sense of fairness among the employees.
The slide deck also includes some slide templates for you to use in your own business presentations.
This PPT delves into the critical aspects of aligning performance goals with business priorities, emphasizing the need for clear communication and regular adjustment of KPIs. It provides actionable insights on how to seek employee buy-in and fine-tune goals to ensure alignment with evolving market conditions and organizational objectives. The emphasis on frequent feedback and rigorous alignment of joint goals is essential for maintaining employee engagement and trust.
The deck also covers the importance of differentiating compensation to reflect individual contributions accurately. It outlines strategies for managing variations in compensation, recognizing outstanding achievers, and implementing ad hoc bonuses to reward exceptional performance. The templates included offer practical tools for integrating these fairness factors into your performance management framework, ensuring a balanced and effective approach to employee evaluation and motivation.
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Source: Best Practices in Performance Management PowerPoint Slides: Performance Management - Fairness Factors PowerPoint (PPT) Presentation Slide Deck, LearnPPT Consulting
This PPT slide focuses on the first factor in implementing fairness factors within performance management, specifically linking performance goals to business priorities. It emphasizes the importance of establishing trust through clear communication of expectations. Employees must understand how their individual contributions align with the broader organizational objectives. This alignment fosters a sense of meaning and purpose in their work.
Two key actions are highlighted. The first is to seek employee buy-in on their Key Performance Indicators (KPIs). This approach encourages involvement from all levels of the organization in goal-setting. The text suggests that top-down delegation of goals often fails to engage employees effectively. Instead, when employees feel they have a stake in their own objectives, it can lead to higher levels of engagement and motivation.
The second action is to fine-tune employee goals regularly. The slide notes that many organizations infrequently adjust KPIs, which may hinder responsiveness to changing strategies or market conditions. Regular revisions of these goals are necessary to ensure they remain relevant and aligned with the organization’s evolving priorities.
Overall, the slide underscores that deploying fairness factors requires a commitment to engaging employees. This engagement not only helps them understand the impact of their efforts, but also necessitates ongoing coaching from managers and adjustments in compensation systems. The insights provided here are crucial for organizations aiming to enhance their performance management practices.
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Performance Management Enterprise Performance Management Performance Measurement Key Performance Indicators KPI Critical Success Factors Key Success Factors Employee Engagement Employee Management Workforce Management Strategic Planning Value Creation Shareholder Value Shareholder Value Analysis Total Shareholder Value Maximizing Shareholder Value Objectives and Key Results OKR Strategy Development Goal Setting Balanced Scorecard Strategy Execution Strategy Deployment Strategy Deployment & Execution Maturity Model Business Maturity Model Human Resources HR Strategy Talent Management Talent Strategy Human Resources Management
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