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February 26, 2024
Podcast: Hardiness: The Link Between Stress and Success (with Sarah Turner)
March 11, 2024

Creating an Ongoing Performance Management Cycle

One performance evaluation per year doesn’t cut it these days. Do you want to find and solve problems faster? Reduce turnover? Support employees’ growth? Keep everyone accountable? You need a shorter performance management cycle.

Organizations are embracing quarterly or semi-annual performance appraisals and creating cultures of frequent feedback. In addition to those benefits I asked about above, giving employees regular feedback builds trust, improves engagement, and helps with monitoring and achieving goals.

If you’re ready to move away from that traditional once-a-year model but aren’t sure where to start, try organizing your performance management cycle around these four stages.

Stage 1: Planning

Start by setting SMART goals (Specific, Measurable, Achievable, Relevant, and Time-Bound) that are aligned to your organization’s broader goals. Involve the employee in the process so they understand the reason for their goals. This is the foundation of your performance management cycle.

Stage 2: Monitoring

This stage is all about ongoing communication. Regularly check in with the employee about their progress, make adjustments where necessary, give feedback, and provide support.

At Purple Ink, we use a weekly check-in tool called 15Five as part of this stage. It gives us an opportunity to find out how our team is doing, how they’re feeling about their week, and hear about their successes and struggles. (If you’re interested in 15Five, reach out to us!)

Stage 3: Reviewing

Here’s where your performance evaluations come in. Evaluate the employee’s performance and how they’re doing on their goals. Make sure to get their perspective on their performance, too.

Stage 4: Rating and Rewarding

In this stage, take appropriate action toward employees who didn’t meet their goals. That doesn’t mean you have to fire them; it could be as simple as having a conversation about it and setting expectations for the future. And don’t forget about your employees who met or exceeded their goals! Recognize and reward their achievements. Not acknowledging their success could lead to demotivation or lower productivity.

Constant communication and accountability ensure that everyone is on the same page about expectations. If you’d like assistance or advice on creating a performance management cycle that works for your organization, reach out to Purple Ink.

Emily Miller
Emily Miller
Emily is Purple Ink’s Director of Marketing. She enjoys being able to exercise both her creative side and her analytical side, and as a Learner, loves helping to create new services and tactics and discovering the best ways to share them with the community.

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