Performance development plan

A performance development plan focuses on enhancing the performance levels of the employees. It provides additional motivation to exceed the targets assigned. It assists in setting goals and provides the direction to attain them.

A performance development plan focuses on enhancing the performance levels of the employees. It provides additional motivation to exceed the targets assigned. It assists in setting goals and provides the direction to attain them. A well-defined Performance Development Plan is important from an organization’s point of view as the growth of the company depends highly on how the employees perform.

Certain factors that should be considered while defining performance development are: What is a good job? How long will it take to achieve it? What is the acceptable degree of accuracy required? What are the budget considerations? What results would be considered satisfactory? How is good performance differentiated from a poor one?

Performance Management is definitely a vital component in the manager – employee relationship. Successful system ensures open, honest and productive work environment. The key features of performance management system are:

It is a constant process that starts during the hiring process and continues for a year.
It includes strategy formulation, task allocation, review and evaluation of work and determining the potential.
It encourages employees to achieve assigned targets, It offers them a chance to take part in the performance development plan formulation and assists them in their development.
It gives a chance to managers and employees to openly discuss issue of performance expectations and evolve a plan for meeting the organizational expectations.

A performance development plan highlights areas requiring improvement; assesses the current performance and analyzes its impact on the organization; shows the way to enhance the performance and identifies the potential of the employees. In determining performance standards one should take the following process into consideration:

Define the short term goal: This is as per the department. For e.g., in a production department it would imply enhancing the production targets. It also takes into consideration improvement of skills and knowledge.
Define long term goal: This involves quarterly or annual goal setting. The process of reviewing these goals should also be chalked out.
Find out the requirement of resources and the need for training: This also involves budgetary concerns. Start by finding out the areas that require improvement. This can be done either by in-house trainers or external agencies.
It imperative to clearly highlight the incentives for achieving the process. It rewards and recognizes the employees.
Documentation is an important element: Every plan made should be recorded for future reference.

Thus, a performance development plan should be clearly developed taking all the above mentioned pointers into consideration and should aim at performance improvement in the pre-determined period.
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