There are three components of the Performance Management Cycle:
1. Goal setting and planning
2. Ongoing feedback and coaching
3. Appraisal and reward
The annual performance appraisal clearly speaks to the third issue, but appraisal and reward can’t be accomplished in a vacuum. That third stage is the culmination resulting from ongoing efforts in the first two stages. The performance management cycle is a continuum leading to a particular resolution in the final (third) step, but all three stages are intrinsically linked to the end result—the performance appraisal and associated merit increase (reward).
Annual performance appraisals are not meant to be a paper chase—a mandatory exercise that creates a snapshot of your impressions as a supervisor about a subordinate’s work. Instead, they should be a collaborative effort that builds on open communication and constant feedback. Thus, investing in goal setting should be a two-way communication: Employees who have advanced input into their own career development will typically buy in to the suggestions much more readily than when those goals are imposed from above. And remember, no matter how ‘‘perfectly written’’ these goals are on the actual performance appraisal form, they’ll be useless without ongoing communication throughout the review period.
So keep a copy of each of your staff member’s annual reviews in your desk, and make sure they do the same. Develop a habit of reviewing the status of performance achievement and skills development on a quarterly basis. You’ll find that your business relationships will be focused, you’ll never again feel like you’re flying blind, and your subordinates will have less of a need for ongoing supervision.
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