First, what exactly do we mean PERFORMANCE MANAGEMENT?  In the simplest sense, PERFORMANCE MANAGEMENT encompasses those activities within an organization which align the talent and knowledge of the organization with task clarity to accomplish the desired results.  The premise is that a thoughtfully selected group, operating in an environment of task clarity, produces results which are superior to a group operating in the absence of task clarity.  Thus, for those expected to produce results, operating with task clarity is more effective than without.  The greater the task clarity the better…up to the point where involvement in the process of performance management distracts from executing on the required tasks.
Here’s the breakthrough - Effective financial institution managers have found tools which increase their group’s level of task clarity without approaching the point of distraction.  These tools, incorporated into practice within a group and executed as a repeating series of cycles over a predetermined period, will create a muscle memory for the group which will improve performance.  These cycles are comprised of five component parts.  They are: ASSESSMENT TESTING, KNOWLEDGE ENHANCEMENT, PERFORMANCE PLANS, RESULTS TRACKING, and SUCCESS REINFORCEMENT.  Effective HRIS systems include elements which enable and automate many of these steps, such as the critical activities of PERFORMANCE PLANNING and RESULTS TRACKING. I'll provide more input into the five steps of effective performance management in a later post.