Performance Management - Fairness Factors (PowerPoint PPT)

DESCRIPTION

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, LearnPPT Consulting