How To Create Your Own Performance Management System

I discuss how you might create your own performance management system for your organization. Performance management is not only important for the effectiveness of your business, but also to make sure that everybody is well-positioned within your organization. This is not only important for strategic performance management, but also to identify performance management best practices.

Managers need to understand what are the goals of the organization, and how to select individuals that best perform with those goals.

What are some components of performance management systems?

1. Understand your goals. Try to figure out what you were trying to accomplish, and then develop key performance indicators for those goals.

2. Select and retain people that fit with these goals. Spend a great deal of time to try to figure out how well these people will perform within your own performance management system.

3. Continuously refine your goals. The goals of the organization will continuously change over time as you adapt to your environment. Thus, you need to change the goals of your organization on a regular basis.

4. Invest in your employees. Devote at least some portion of your profits to reinvest in your employees somehow.

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David Maslach is a research professor of entrepreneurship, innovation, and business strategy, I discuss topics, such as behavioral science, strategy, innovation, and entrepreneurship, and apply these to my new peer proofreading and editing platform. Topics include the sharing economy, altruism, investing in technology, and bounded rationality. My favorite videos pertain to incentives, goal setting, and learning from failure to drive behaviors such as weight loss, stopping telemarketers, creating novel technologies, and creating new movements.

r3ciprocity.com: Peer proofreading and editing platform

A new platform where you can earn credits by editing other people's documents. Use these credits to have your own work edited. If you do a good enough job, you can convert these credits to money.

The goal of the platform is to get people to 'pay it forward' and help other people out by creating incentives for people to give back.

Check out r3ciprocity.com

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