Performance Management
Performance Management is Key to Business Success
Performance management is a core process to engage our people and focus on our business. This process can be crucial for Pride to be a leader in the deepwater drilling industry. Comments from our recent Global Employee Survey indicate a general lack of value being placed on performance reviews. Employees believe they do not receive adequate feedback with their managers and, as a result, are unclear regarding the performance expectations that are being placed upon them.
As a result of these survey comments, Pride’s philosophy on performance management was reviewed and updated this year. Part of the new philosophy addresses the need for managers and employees to share accountability in the performance management process. It requires the formation of a partnership between a manager and his/her direct reports to 1) become familiar with the Pride organization, 2) understand unit and team goals, and 3) align individual performance expectations to these goals. Ultimately, this partnership drives employee engagement, performance and productivity. Employees now have a voice when establishing goals and identifying how performance against those goals will be measured.
It’s a Process, Not a One-Time Event
We can no longer afford to view performance reviews as a “once a year, check the box” activity. Our customers demand operational and performance excellence. The best way for Pride to meet those demands is to effectively manage the goals and expectations of our employees. This is best done through an on-going, year-round process that tracks employee performance and behaviors, identifies employee strengths and improvement areas, supports employees through development initiatives, and rewards employees for exceptional results.
Have a Great Performance Review Discussion
For both managers and employees, a great dialogue is important. Filling out the forms and feeling like the process is finished for the next 12 months is not sufficient. Having a targeted, focused conversation is a key to performance success! Here are seven helpful tips that both managers and employees can use in the dialogue:
- Clarify current role and job expectations
- Discuss specific performance goals, measures and progress toward meeting the goals
- Recognize accomplishments
- Discuss factors that inhibited desired level of performance
- Gain support from supervisor to work on those factors that got in the way to achieving performance
- Look at the behavioral competencies from the Performance Review; leverage your strengths and focus on 1-2 development areas
- Have a two-way discussion
Employees should keep in mind that they have the responsibility of following up with their managers on a regular basis. Remember: communication is not one-way. If employees believe there is a lack of communication between them and their managers, they should schedule a feedback discussion themselves.