The journey from performance management to performance development
The pandemic has forced organizations all around the world to transform – not only by adopting new technology and services to be able to operate in the remote environment but also by prioritizing the overall employee experience. In the past two years, managers’ focus on their employees has grown significantly, leading to the implementation of new processes and policies that aim to boost morale, satisfaction and individual development.
When it comes to our own way of doing things, like evaluating employee performance, we at Indus Valley Partners have decided to take a closer look at the way we conduct our employee review process. Based on our analysis, we found that a quantitative assessment of employee efficiency and satisfaction can no longer serve as a true reflection of an individual. As a result, we are creating a new performance evaluation process based on qualitative feedback called Perform. Discuss. Succeed.
Here are some highlights of the change:
Perform. Discuss. Succeed. (PDS): This new performance evaluation process does exactly what its name says. It enables employees to be able to reach their true potential by encouraging an open dialogue with their managers on their performance and by providing them with the tools they need to succeed.
Removal of Ratings: Facts that really matter in the performance evaluation process are employees’ strengths and areas in need of development. Instead of being assigned a rating, this process provides employees with an in-depth understanding of their abilities, rewards in line with market realities and an overall positive review experience.
Communication: The PDS process relies heavily on ongoing, effective and enabling conversations. With its implementation, managers must openly communicate how an employee is doing, be willing to answer questions as well as share, guide and enable them along their development journey. However, a responsibility also lies in the employee’s hands to be in charge of their career and reach out if they have questions or a need for feedback.
By transforming our employee performance evaluation process, we are confident that it will help us continue to sustain a culture of open communication, transparency and well-being.
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