In a traditional performance evaluation, someone is assigned to compile and review with each executive a summary of her/his strengths, contributions, growth, and opportunities for improvement. The traditional process has many weaknesses which are summarized in this article recently published by Flevy.com, such as:
Compiling a quality performance assessment is difficult; consequently it often gets put off to be done at the last minute but it also takes time to do a good job and time runs out.
Assessment content tends to be arbitrary based on ability, skills, and perspective of the reviewer and may not represent the best thinking or interests of the team.
Reviewers tend to avoid raising and dealing with tough matters that should be addressed aggressively because it is uncomfortable and they are not trained or motivated to do otherwise.
I tell everyone who works with, or for, me that they are never to do something because I told them to do it. I do not want or expect anyone to do what I ask just because I told them to do it. Instead, I insist they do what they do because they understand what they are doing, they know why it makes sense to do it, they believe that what they are about to do is the wise and right thing to do, and they want to do it.
The objective is to make them (as opposed to me!) accountable for what they do and to help them grow through the experience. Soon I will not have to ask them any more because what I want done will be internalized and we can move on the next stage of growth. If I ever ask them to do something that they do not understand, agree with, or want to do then I beg them to tell me about it so that we can talk it through.
An approach that demands people to do something but that does not take time to be sure those being told understand and agree with doing it may seem more like what a CEO should do but it is not. Here is why:
When things do not go quite right it is too easy for the person to let themselves off-the-hook as they say, either out loud or to themselves, that: “I only did it because the boss told me to.”
It is human tendency to do what you are told to do by persons in positions of authority. However, when you follow an order, you do not necessarily have to:
A qualified sales prospect may turn out to be in the next seat at a conference session or happen by the booth in the vendor display area … but the odds are so long that if the only plan is to meet people randomly then it is probably not worth going.
The value of attending is multiplied many times when an industry conference serves as a platform to work from before, during and after by a team committed to making the most of the experience.
Specifically, contact targeted executives regarding the conference. Every interaction is a chance to make a strong personal connection around a topic of mutual interest (the conference); use it to gather intelligence and to impact thinking related to cultivating interest in organization offerings. Continue reading Don’t go to the conference stupid!→
While putting full attention on accomplishing one thing increases the odds that the thing will be done well, it is all too easy for the career minded professional to end up doing nothing other than their work!
They would be wise to realize that top performers at all levels make time for other things such as family, recreation, exercise, spiritual development, and even volunteer work.
Each year, a well-run organization’s leadership completes a planning and budgeting process. Achievement of the resulting annual business plan is dependent on each organizational unit meeting or exceeding its established goals as part of that plan. This requires that individual leaders take ownership of their part of the plan.
The objective of the Executive Incentive Compensation Program (EICP) is to allow executives who meet or exceed annual performance goals, both financial and non-financial, to participate in the organization’s overall success. The more a given individual or group is responsible for the organization’s success, the greater their share of participation in the rewards. Participation in the program is an important career milestone.
Executives with significant scope and scale of responsibility for achieving an identifiable portion of the organization’s financial plan and who are, and who are expected to continue to be, employees in good standing are eligible to participate in the program. All staff proposed for inclusion are reviewed and approved by the Core Leadership Group.