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Two reasons you should have a performance management system for executives

by , 03 July 2014
Most companies often have some kind of performance management system in place for employees, but fail to set the example at the top.

While executive management and other leaders bear a heavy responsibility for strategic planning and ensuring the continued growth and profitability of the company, they're 'forgotten species' when it comes to training and performance management initiatives.

If your company is guilty of this, things have to change, you must remedy this promptly.

Why?

Here are two good reasons you should have a performance management system for executives.

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If your company doesn't have a performance management system for executives these two reasons will sway you

Reason #1: According to the Practical Guide to Human Resources Management, executives need clarity on what their goals are, i.e. what they need to accomplish.

They also need to know if they're on course or not and how well they're doing. They are, after all, the navigators of the company and are responsible for driving company performance.

If you design and execute your performance management system well, it'll drive the business strategy as well as company performance.

Reason #2: You have to model the kind of behaviour you want to see.

Leaders need to set an example from the top by practising what they preach. This will not only demonstrate commitment, but it'll instill trust in your employees that the executive team is serious about performance improvement.

The important point here is that you need to put enough focus on executives when it comes to their development and the improvement of their performance.

Of course, we've just scratched the surface with these two reasons; there are more reasons on the Practical Guide to Human Resources Management, so check them out. The Guide also contains information on how to go about implementing a performance management system for executives as well as how to provide clarity, purpose and recognition for your management team's performance.



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