As a recent piece in Fast Company mentions, the old style of performance management, focused on reviews and bureaucratic process is defunct because of the priority it places on process over outcomes. Further, the wisdom a real-time, open culture of communication and feedback promotes the ability of both management and an organization’s employees to quickly spot issues, challenges, or errors - to be able to fix them as - or even before - they happen - is taking the performance management field by storm. Conversely, as important as it is to be on the lookout for potential issues to be able to responsively correct them, the ability this approach affords to also celebrate and communicate positive results and outcomes for the rest of the organization’s benefit also holds significant -and lasting- value. A study conducted by BetterWorks even found that managers’ direct reports who are given weekly goals and regular check ins are 24 times more likely to achieve their targets.
Remember, as a performance manager or team leader, some of the areas where you add the most value and exert the most influence are in your coaching and empowerment abilities as well as steering the course of the regular feedback and communication to ensure your employees are set up for success.