Strategic Performance Management is a development and improvement process according to the performance criteria determined by each following its mission and vision. Its purpose is to identify the current situation, to reveal what needs to be done to reach the goal, and to support its implementation.
Strategic performance management is a process in which employee-specific abilities and goals are determined, measured, and improved. These management systems should be developed following the company goals and strategies so that employees can be managed, evaluated, and trained objectively. Strategic performance management is a system that allows you to manage and monitor your company with all its resources, including your financial structure, in line with your future goals.
You can see this process as an approach in which employee goals are determined, measured, and objectified according to their position and abilities. In addition, overall process improvements target the performance of the organization because performance management is a crucial factor for the success of a company.
How to implement strategic performance management?
Plan. It is the goal-setting process that takes place at the beginning of the period between the manager and the employee. Specify goals and performance criteria in parallel with the strategic goals of the company.
Measure. Measure the planned performance criteria.
Meet. Practice periodic meetings in the middle of the determined evaluation period. Here, your progress toward your year-end goals is evaluated. You get feedback, and at the end of the period, you can discuss what you need to do to reach your goals.
Evaluate. At the end of the period, the results of the data determined in the first stage are collected and evaluated.
Use the results. Evaluation results are intended to be a resource for rewards, bonuses, education, and career.
Why does strategic performance management matter?
Organizations always try to achieve their inspiring goals. Employees who help companies reach these goals work together by organizing them with their responsibilities. For different departments to come together and form the whole, it is essential to determine the working system and success criteria.
Through strategic performance management, people support each other’s goals. The contribution of each employee to the small team, from small to large teams, and ultimately to the core goals of the company, helps the company achieve its goals. For this reason, companies apply performance management.
How Twiser can help you improve your performance management?
Twiser is a people-oriented OKR & performance management solution, flexible and easily adaptable to company strategies, which are changing circumstances in the work environment. It is successfully implemented and trusted by organizations operating in 20 industries across 25 countries.
Twiser enables you to achieve your mission by setting clear and aligned OKRs (Objectives & Key Results), tracking progress, arranging 1:1s, getting feedback, and evaluating your colleagues’ competencies and performance while having transparent communication across your company.
We’re famous for our resources! For detailed information about OKR & Performance Management, download our “A Quick Guide to Effective Performance Management“ booklet now!
