Based on your reading and/or organisational experience provide FIVE (5)important steps in creating and sustaining an effective performance managementsysteminanorganisation.
At a time when the retail industry was undergoing rapid change and
increased competition, Fossil Group knew it needed to find more efficient
and effective ways to keep its managers focused on performance
management and results.
Performance Management Process
Fossil Group was using a complex, 100% paper process for performance
reviews and check-ins for more than 15,000 global employees. They
wanted to move toward a digital performance management strategy, but
knew they needed to simplify the process first. Fossil Group set up four traditional components that were stretched
across three strategic touch points throughout the year. These touch
points were supplemented with ongoing performance conversations that
could be initiated by any employee, at any time. As Fossil Group evolved its company-wide performance approach, they
were happy to see immediate progress. 92% of employees were
participating in goal-setting reviews, setting an average of six goals per
employee. However, when they dug into the data, they found that 35% of individual
goals created were misaligned or did not have an impact on the
organization and its strategic priorities. They knew they needed to get
better at goal alignment if they wanted to meet important business
objectives. Explore the three ways Fossil Group simplified performance management.
1. They scheduled ongoing performance conversations and
continuous feedback.
Although the three formal performance touch points in place were
working, Fossil Group knew teams needed to have goal conversations
more frequently. They implemented informal “check-ins” that could be
launched by any employee at any time.
To ensure adequate time was made for important performance
conversations and other performance related activities, Fossil Group
implemented "Performance Days" — days strictly dedicated to employee
performance. On these days, no task-related meetings are scheduled, and
all work is set aside for the day. Conversations between managers, employees, and teams are all centered on performance.
2. They created intuitive goal conversation templates.
Fossil Group recognized that simply having more performance
conversations wasn’t enough — the conversations needed to include
healthy dialogue, debate, and collaboration from managers and
employees. They created 1-on-1 templates to help guide managers and
employees through an effective and productive goal conversation. Check-in templates could be customized to the needs and work of
individual teams and team members. The templates helped ensure
conversations were focused on creating clear, aligned, and motivating
goals.
3. They used recognition to keep performance conversations fresh.
Fossil Group wanted to bring performance conversations full circle by
recognizing employee performance daily. They created recognition
toolkits for managers including fun notecards, gift cards, and employee
recognition tips. They also launched an online, peer-to-peer recognition
program that generated an average of 140 recognition stories each week. By taking time to uncover the needs of its employees, and delegating time
for managers to focus on performance, Fossil Group was able to listen
and act on employee voices and evolve their performance strategy for
success.
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