Cold-pressed juice machines, company picnics, in-office yoga…these perks may sound appealing to an employee but when it comes down to building excellent company culture, it’s great management that makes the difference.
Sure, company perks are important to employees, but studies now show that it isn’t the number one tactic. What matters is great management and the methods used to keep employees performing at their highest potential.If your employees aren't motivated, then it becomes difficult to retain talent and customers Click To Tweet
A 2017 study by Gallup shows that only a mere one in five employees find their company’s performance management to be motivational. If your employees aren’t motivated, then it becomes difficult to retain talent and customers.
What Is Performance Development?
The workplace is rapidly changing in this startup-laden era and with that comes a new workforce that is defining a new approach that managers need to harness in order to offer an aspirational workplace culture. Millennials will equate for 75 percent of the global workforce by 2025; making the now out-dated “control-and-command” management dynamic one that will push away talent. This obsolete management style must dramatically shift towards a more impactful approach of purpose, development, and one-on-one coaching.
Performance management is now being coined by some as “performance development.” Employees want to be challenged, given honest feedback, have room to grow, and the opportunity to be coached. Overall, your employee wants to feel engaged and important.
Only two in ten employees strongly agree that their performance is being managed in a way that is motivational and pushes them to create their best work.
Gallup also revealed that employees are four times more likely to be engaged at the workplace if their managers set goals with them. Goal-setting within the talent’s skill set will create a performance dynamic between manager and employee that will allow for daily or weekly communication and an overall feeling of high purpose.
Below are key steps towards shifting your performance management into a system of “performance development.”
Set Realistic Expectations
Setting realistic expectations will advance your employees strengths whereas setting unrealistic expectations will set them up for failure. When your employees fail, so does the company. The recent Gallup study indicates that employees who are a both engaged at work and a natural talent fit outperform others by 25 to 33 percent, depending on their tenure.
Hiring the right talent for the role is key, along with setting expectations that are challenging yet remain within their skill set. When unreasonable expectations are set upon the talent, the relationship will weaken between manager and employee, making it difficult for the talent to successfully achieve tasks and feel comfortable asking for feedback when they need it most.
Align on Goals
When shifting your leadership philosophy, setting goals is a vital component. Offering the talent clearly defined, attainable goals gives them the opportunity to self-project manage as they reach each goal milestone. This dynamic between talent and employee allows for the manager to take on the role of a coach and the employee to feel empowered by being able to focus on and grow their strengths.The now out-dated “control-and-command” management dynamic will push away talent Click To Tweet
Imagine everyone in your workplace having goals that they are striving to complete, feeling comfortable communicating with colleagues and managers, and giving honest feedback to one another in order to support task accomplishments. That’s a culture where work is forward-moving and talent is motivated to contribute to the overall success of the business.
Even if it’s not necessarily positive feedback, communication is key when managing your team. A 2014 study by the Harvard Business Review reported surprising results when they asked people whether they preferred to receive corrective feedback or praise and recognition.
Of those surveyed, 57 percent said they’d rather received corrective feedback while only 43 percent preferred praise and recognition. While focusing on strength-based coaching with your employees, giving them weekly or bi-weekly feedback as they work to accomplish their goals will give them the guidance and support necessary in order for them to feel satisfaction when working on and completing projects.
In addition to your company’s flexible hours, paternity leave programs, softball tournaments and coconut waters, put “performance development” high on your list of initiatives to build an exemplary workplace culture.
When your talent is flourishing at the office, they’ll be that much more likely to bring in satisfied customers, thus, increasing your ROI. Good management can be excellent management when supporting team members in feeling crucial to the company’s success and giving each individual equal and high purpose.
Teach managers how to be people leaders and drive development. Watch our webinar on running effective one-on-ones.