The beginning of the year is a good time to review existing goals and modify them as necessary.

Geoff Colvin writes on page three of his book Talent Is Overrated  that “extensive research in a wide range of fields shows that many people not only fail to become outstandingly good at what they do, no matter how many years they spend doing it, they frequently don’t get any better than they were when they started.” That statement alone should provide a strong reason to give employees specific performance feedback more regularly. If an employee is carrying out the same job day-in, day-out and not improving, then the performance management process is not functioning well.

On the other hand, if an employee is not taking responsibility for his or her own performance, then improvement is unlikely. Mercer statistics mentioned in a CNNmoney.com article should motivate employees to focus on performance improvement. These statistics show raise projections for 2009 to be 3.3% for average performers, yet they also show raise projections for top performers to be 5.6% for 2009. The author of the article tells readers to “ask your boss for regular feedback about your performance.”

If, as Colvin writes, “what you really believe about the source of great performance thus becomes the foundation of all you will ever achieve,” (pg. 5) then it is in a company’s best interest to set expectations early, explain expectations clearly and set standards high. Regular feedback then helps guide individuals to reach those expectations.

As the New Year begins, resolve to increase the frequency and effectiveness of performance management feedback.

References:

Colvin, Geoff. Talent Is Overrated: What Really Separates World-Class Performers From Everybody Else. US: Penguin Books Ltd. 2008.

Rosato, Donna. “Forecast 2009: Your job.” CNNMoney.com [www.money.cnn.com]. November 7, 2008.