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PERFORMANCE MANAGEMENT

"Vector Group helped us design and implement a performance management system that delivered just what we wanted: a way of having everyone see how what they do contributes to our mission."
- Karen Saine, Director of Administration, City of Northglenn, Colorado, USA

Often the term performance management (PM) is used interchangeably with Performance Appraisal (PA), but there are some significant differences between the two processes. As a start, PA focuses on measuring the past, while PM is focused on managing the future.

With Vector, Performance Management is a continuous cycle of planning, organising, monitoring, supervising, giving and receiving feedback, coaching, and documenting. The emphasis is on actual performance, not on effort, not on personality traits, and not simply on completing the annual paperwork.

Vector helps you to design and implement a Performance Management system to deliver the desired business results in an atmosphere of continuous improvement.

A three stage process is used:

1. Planning stage

Addresses the questions;

What am I supposed to do ?
To what standards ?
What consequences are connected with my performance ?
How will I know how I am doing ?

2. Progress reviews

These are periodic, usually every 4 -12 weeks, reviews by the manager and jobholder of progress against standards and goals. Review outcomes, including ratings against standards, are documented in order to provide ongoing feedback, a focus on the future, and reliable data for the formal appraisal and rating. After an initial "settling in" period, progress reviews normally take 15 - 30 minutes.

3. Formal Appraisal And Rating

A summary by the manager and employee of overall performance for the entire review period, normally annual, is prepared. All progress review ratings and data are used to arrive at the overall evaluation. This is done by documenting the performance for the last review period, and averaging it with all the other ratings from previous progress reviews.

In keeping with a focus on the future, action plans, including resource needs, for performance over the next review period, formal training and development and career pathing plans are developed.