Roger Francis, MindLeaders services and HR director, explains why well organised performance reviews integrated with our talent management solution mean a lot to MindLeaders.
I picked up on another sad statistic the other day. A recent survey of over 4000 workers revealed that one-third have never received a regular Performance Review
So, millions of workers in the UK are neither receiving regular feedback on their performance nor being advised as to what is expected of them. How on earth can we expect to compete effectively in the global economy if so many people are in that situation?
At Mindleaders, Performance Reviews are part of our DNA and we have just started on our annual round of discussions. Within the next few weeks, every single person will have held an in-depth review with their line manager to discuss their performance in 2011. They will then agree a set of Business Goals (which will be closely aligned to the overall needs of the business) and will put together an individual development plan designed to help them achieve the business and any other personal goals.
All of this information is recorded within our own Talent Management system (we like to practice what we preach) and progress is tracked and reviewed on a regular basis. It’s not a one-off box-ticking exercise – it’s a living, breathing tool that is now part of our culture and is valued throughout the business.
Of course, effective Performance Management doesn’t just happen by chance. Meetings need to be carefully planned and thought through beforehand and both managers and their people need time and space to talk through issues and agree plans for the future. 10 minute discussions at the end of a long day simply won’t work.
So does all the effort and planning have any measurable impact on the business? The answer is an emphatic “Yes”. Every year we carry out a staff survey and once again, the results this year were excellent. However there was one particular statistic that stood out for me. 96% of our people say that they fully understand what is expected of them. That figure has improved significantly since we introduced our Talent Management system and I have no doubt whatsoever that there is a direct link between the two. It also compares with another recent survey which showed that only 54% of employees understood what was being asked of them.
Our own results would therefore appear to be way above the norm and leaving aside all the many other benefits of a Talent Management system, if we can be assured that nearly every single person in our business understands exactly they need to do and how to do it, then our business is in a great place.