The ultimate guide to running a performance management process
Follow these 7 steps to have a simple, scalable and science-based performance management process that will make your business more profitable.
Companies are spending more money than ever on employee perks and rewards.
Yet "feeling appreciated" remains the biggest unmet need for employees.
Thankfully, you don't need a big budget to have a first class peer recognition programme. In fact, the best peer recognition processes cost next to nothing to set up and reduce staff turnover by up to 30%.
Let's go through 2 traps to avoid so that:
Saying "thanks!" or "thanks for the hard work!" or "thanks for staying late to finish that off!" is a nice touch.
But what's the positive behaviour that you are reinforcing?
If this is all it takes to get praise, then the gold standard in your company will be quantity of work, not quality. All stations to Face Time Central.
Remember, recognition serves two purposes:
A good peer recognition programme recognises people. A great peer recognition programme recognises people and specifically what they did.
This is why it's important to have your peer recognition follow a simple and consistent formula. At Howamigoing, we call it FACT vs FEELING feedback.
FACT = the action, what you saw or heard. The behaviour to reinforce.
FEELING = the reaction, why you liked the action, why you think it's worth doing again.
Howamigoing's peer recognition tool, Good vibes, does just that.
Separating FACT from FEELING is also powerful when giving more critical feedback. Here's a short video to show why it's best-practice.
Sending an individual email or message of thanks to someone is a nice touch. It feels personal and authentic.
But ideas kept private don't spread.
It's much more powerful to make that email or message public for others in the business to see and comment on.
Not only does public praise make the recipient feel more recognised, it creates social proof.
When we see others engaging in peer recognition, it makes us want to join in. This is especially true when public praise comes from senior employees.
Monkey see, monkey do.
Public recognition can take the form of:
The first one is our preferred approach because:
You can get started in 3 simple steps that take less than 5 minutes.
Step 1 - Create a free account at Howamigoing.
Step 2 - Invite your colleagues to the platform. You can do this using email addresses, or Slack, or by sending an Excel file to your account manager.
Step 3 - Send them a message via email or Slack or Teams to explain why you've invited them to Howamigoing. We have a lot of ready-to-go comms templates that we're happy to provide, such as the below:
Leading from the front helps when it comes to making your peer recognition programme stick.
And with the departure of each employee, good or bad, your business loses at least 6-months' of salary. That's a real and permanent economic loss.
So it's worth setting aside 10 minutes each week to publicly recognise the quality work of your peers.
Just be sure to separate FACT from FEELING and promote best-practice behaviours.
If you want any more advice, watch the below video or send an email to firstname.lastname@example.org. We're always happy to speak to People Leaders who put feedback top of their culture.