Performance Review Cycle

Performance Management Cycle

        In order for the performance management process to be effective, managers and leadership must become skilled at the process and utilize it annually. Efficient performance management lines up with the actions of managers, employees, structural goals, stimulates consistency in performance assessments, and encourages employees. The focus of the plan should be on skills directed at job development or join mastering jobs with professional development skills. As the manager of such a large bank, it is my duty to implement a plan, training, feedback, and salary administration that will be applied annually and align with company goals.

Performance Review

The goal of our organization is to reduce employee turnover by 20 percent by implementing a new employee program as well as a company-wide training program. Individual goals should also align with the organizational goals. Performance reviews should be conducted annually.  

The majority of the productivity of reviewing performance should be done before a formal meeting. Prior to a meeting, managers can encourage employees to be involved by requesting that the employee (Berkeley HR, 2016):

• Record achievements and pinpoint areas for improvement
• Prepare a self-evaluation
• Recommend professional objectives for the following review cycle

Managers should review the employee's:

• Goals for the review cycle (level of achievement and development)
• Deviations that have transpired in objectives througout the year
• Developments that have occurred over the review period
• Feedback given by managers and coworkers
• Past performance reviews

Individual Development Plans

        The Individual Development Plan (IDP) implements a perception that stresses dialogue and combined assessments by the manager and the employee with feedback from the mentor on the particular developmental skills essential to accomplish the shared objectives of individual occupational development as well as organizational improvement. IDPs should include succession planning and should be consistent.

A manager is in an exceptional position to promote growth by:

• Providing input on performance in an employee’s existing job and finding their strengths for development
• Being a coach and mentor
•  In the best interests of the organization’s goals, needs and opportunities
•  Helping assess the advancement potential and trainings for other positions
• Acting as a resource and referral for exploring the employee’s career development options
• Supporting training and development, providing training opportunities

One employee who should complete an IDP program is Neena Martinez. She is a high potential employee who is currently a Branch Manager. She can be developed into an executive level manager through executive mentoring and coaching with a VP and rotation through job assignments. Evaluating Martinez’s skills and relationships by conducting 360- degree assessments is essential (Noe, Hollenbeck, Gerhart & Wright, 2015). By implementing this succession planning, this would put her on the path to executive management in 5 years.