Four Ways Continuous Performance Management Drives Government Contractors' Organizational Alignment
A shocking eighty percent of employees feel that their performance is not managed in a way that motivates them to do outstanding work. (Gallup) Old practices and methodologies are not meeting the changing expectations of the modern workforce, so what is a modern government contractor to do? If your performance management appraisal is more like a multiple-choice test administered annually, then it’s time for a significant shift.
An increasing number of companies are abandoning annual appraisals in favor of continuous feedback, but the effectiveness of continuous feedback programs is dependent upon the quality and consistency of the conversations between managers and employees. While we seem to be moving in the right direction, many organizations continue to struggle to standardize these more frequent performance discussions and lack the appropriate software to manage the process.
Performance management must offer a tangible benefit to your employees (development, guidance, support with goals, etc.), but should also help you improve top-to-bottom alignment A well-implemented continuous feedback process results in material gains in employee engagement, productivity, customer satisfaction, and profitability. Imagine what you could achieve with more people rowing in the same direction.
Consider the following four ways continuous feedback will help you drive organizational alignment:
#1 There is a powerful connection between employee commitment and engaged leadership
- Effective coaches have three times as many employees who are willing to go the extra mile
- Leaders in the ninetieth percentile for coaching have employees in the eighty-eighth percentile in commitment, while leaders in the tenth have employees in the fifteenth
- Over 60% of employees with poor coaches as leaders are thinking of quitting, so by helping managers improve, you can positively affect your employee attrition rates
#2 Investing In People Will Move the Needle Faster and Farther
- Continuous feedback will help companies to track and measure continuous improvement across project teams, locations, or company-wide
- Goal-based and project-based continuous feedback discussions produce results in addition to actionable data that can be tracked and reported
- Drive consistency across teams by providing more quantifiable results that tie easily to salary increase and bonus-based decisions when necessary
#3 Improved Communication Results in Increased Organizational Alignment
- Foster consistency and communication across the organization to ensure that all employees receive the same quality of performance management
- Keep project teams, departments, and locations in lockstep whole increasing awareness, understanding and empathy
- Leverage continuous feedback discussions to support continuous goal management and drive greater results
#4 Relevant and Frequent Feedback Drives Higher Levels of Employee Engagement
- Ensures that all employees have frequent access to feedback that will help them to develop and helps management identify top performers who have an interest in advancing
- Regularly demonstrates that all employees are valued for their contribution and places an emphasis on growth
- Provides opportunities for employees to request and receive assistance and guidance
Without information, employees must interpret the employer/employee relationship without sufficient context, which often results in misunderstandings. Consistent communication is a key aspect of providing an excellent employee experience. Companies that master continuous feedback will gain an advantage. They will build engagement within their workforce, drive increased retention rates, and struggle less to recruit for growth positions.
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