Implementing better performance management strategies can have a variety of positive effects on your organization. It gives you a better understanding of each employee’s strengths and weaknesses while giving them clear expectations that align with your company’s goals.
Strong performance management also encourages supportive communication at all levels. Communication is one of the most important factors in a strong company culture, which can in turn help you attract and retain the best talent. If your employees feel as though they can’t communicate with you openly, it’s likely there isn’t a psychologically safe environment for them to be vulnerable.
Continuous performance management puts employees in an active role by creating a space for them to provide helpful feedback, and to receive it. This allows every voice to be heard, not just the higher-ups. As your company continues to grow, having this style of management ingrained in the company culture will help you attract talent and keep them engaged.