Performance Management for Today’s Workplace Edie L. Goldberg, Ph.D. President, E.L. Goldberg & Associates THREE-PART MASTERCLASS Brought to you by E.L. Goldberg & Associates, in partnership with Engagedly, Inc. This document contains proprietary material and should not be reproduced, either in total or in part, circulated, or quoted from without proper attribution and the expressed permission of E.L. Goldberg & Associates. 1
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President, E.L. Goldberg & Associates Edie L. Goldberg, Ph.D.
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Performance Management for Today’s Workplace
Edie L. Goldberg, Ph.D.
President, E.L. Goldberg & Associates
THREE-PART MASTERCLASS
Brought to you by E.L. Goldberg & Associates,
in partnership with Engagedly, Inc.
This document contains proprietary material and should not be reproduced, either in total or in part, circulated, or quoted from without proper attribution and the expressed permission of E.L. Goldberg & Associates. 1
Trends and best practices in
goal-setting and feedback
Module 2
2
Of employees strongly agree their
managers provide meaningful
feedback to them
MODULE 2
More likely to be engaged
3.5x
23%
Source: Gallup, (2020) State of the American Workplace Report3
Frequent Discussion Goals should be embedded in ongoing discussions to review progress, allocate resources, prioritize, and provide feedback & coaching.
AmbitiousGoals should be difficult but not impossible to achieve.
SpecificGoals should be translated into concrete metrics and milestones that force clarity on how to achieve each goal and measure progress.
TransparentGoals and current performance should be made public for all employees to see.
Frequent Discussions 2
13
9/10 people would be willing to earn less money to do more meaningful work-Achor, Reece, Kellerman & Robichaux (2018)
14
Leveraging the Power of Purpose and Meaning
3
Team-based goals:
● Drive effort & energy
● Facilitate communication & cooperation
● Result in more positive outcomes
15
Individual vs. Team Based Goals4
What are your best practices in goal
setting?
Discussion Question
16
MODULE 2
17
Feedback
Importance of FeedbackWhich element is most important to driving motivation and performance?
Setting goals and objectives
Colquitt & Goldberg (2020)18
None of the above drive motivation/performance
Linking pay & performance
Evaluation/Ratings/Differentiation of performance
Feedback & coaching
Zenger & Folkman: Retention
Zenger, J., and Folkman, J. (2015). Talent Quarterly, p. 31-3819
Employee retention is significantly higher when managers provide frequent and effective feedback.
Managers Have Gotten the Message About Feedback – They Just Aren’t Good At It
20
Rate the skills of your managers in providing effective feedback & coaching?
Creating a Performance Feedback Culture Pays Dividends
Use of PFC Practices Net Profit Margin ROI ROA ROE
Top 1/3 12.08% 14.63% 7.68% 26.26%
Middle 1/3 7.48% 7.96% 4.89% 19.71%
Bottom 1/3 5.09% 6.51% 3.65% 10.63%
Ledford, G.E. & Schneider, B. (2018). Performance Feedback Culture Drives Business Impact. Research Report sponsored by CEO & i4cp.21
MODULE 2
Contemporary Research Driving Today’s Practices
22
Growth Mindset (Dweck)
23
Fixed Mind-setIntelligence is static
Growth Mind-setIntelligence can be developed
...avoid challenges
Leads to a desire to look smart and therefore a tendency to...
Leads to a desire to learn and therefore a tendency to...
...embrace challenges
...give up easily
...see effort as fruitless or worse
...ignore useful negative feedback
...feel threatened by the success of others
...persist in the face of setbacks
...see effort as the path to mastery
...learn from criticism
...find lessons and inspiration in the success of others
CHALLENGES
OBSTACLES
EFFORT
CRITICISM
SUCCESS OF OTHERS
As a result, they may plateau early and achieve less than their full potential.
All this confirms a deterministic view of the world.
As a result, they may reach ever-higher levels of achievement. All this gives them a greater sense of free will.
Neuroleadership (Rock)
Source: Dr. David Rock. SCARF; a brain-based model for collaborating with and influencing others. NeuroLeadership Journal 2008 Image by Freepik.