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Outcomes of a Performance Review Session
A final version of performance report (scorecard or dashboard) is typically published after the performance review session. The performance review session brings:
- The participants on a common page on the contents of the performance report.
- Additional performance points, actions, decisions and assumptions, which come-up in the review session.
NOTE- These may not be individual and separate lists, but could be merged with each other, as long as you are able to track them. Each of the components is listed as separate items, but they are fairly iterative. The content of these outcomes will be differing depending upon if it is a scorecard review session or a dashboard review session.
Key Performance Points-
This covers the main points around which our performance review, actions and decisions are centered. These include:
- Exceptions to the performance: Area where one is seeing the under or over performance
- The components or strategy or business plan, which are liable to change or need to be re-looked at.
- Any major risk, threat or opportunity which needs to be looked at.
The above list is the core reference for the team and the manager to keep on their radar list. The items listed in this list need to be well defined. For example- if there is a problem we need to resolve, one should clarify the problem statement. All the other components listed below are linked to this list. These KPPs will keep on changing with time, as you address existing KPPs and new KPPs emerge.
Actions list
The list of actions which are being taken, proposed to be taken or already taken. These actions will include:
- The help items and support needed from the peers or other stakeholders. (Need 7 day turnaround from marketing to design the new product brochures)
- Any risks related to the action (The potential strike by the nationalized bank employees, could impact our collections in the last working day)
- The timeline for completing the action (Machine installation to be done by March 28...)
- The next check-point related to the action. (Next check point being March 15. Machine shipment to our factory will be done by that day)
- What will define the action to be termed as completed. (Sales material distribution will be termed as complete once the material receipts, signed off by outlets is received in headquarters)
Assumptions
The decisions and actions which you take in a review session are based on certain assumptions. Just like a strategy blueprint and business plan. One needs to list those assumptions. These assumptions along with the assumptions you made during your planning process, form the core of your analysis and decision-making.
NOTE- As you go through the analysis of your performance, you will discover many assumptions which are different from the ones which you made during your planning time. This difference will drive a re-visit to your strategy and business plan.
Decisions and Agreement points
A decision taken in a meeting is not a statement made by the team manager, or a general nodding of heads. One needs to have a categorical yes around a decision. This avoids statements like “I never categorically agreed to the decision". It may not be important that everyone agrees to a decision, but its important for people to adhere and execute the decision (we will be covering more of this subject in our decision management).
Any key performance point (issues, risks, under or over performance) will result either in a decision or an action or both. Every review session will throw-up decisions which need to be taken. Some decisions are taken in the performance review session, and some are taken offline. Unless a decision is listed, there is a risk that a decision may not be taken, or taken in ad-hoc or informal manner. Whereas actions are more for immediate response to a situation (agreed actions are decisions by themselves), the decision points are more related to longer term implications.
For example:
- Key issue- Less than targeted hiring of the sales staff.
- Action- Immediately, hire three more hiring agencies to speed up the hiring, as long as it does not add more than X USD to our fixed cost.
- Assumption- We are not able to hire people at adequate pace because our sales compensation structure is not competitive.
- Decision point- Do we need to change the compensation structure? If yes, what should be the change? What should be the implementation time and approach? How should we position it?
NOTE- As mentioned above, root cause analysis, performance points, decision points and actions are highly inter-twined and this listing is mainly to share with you the ingredients of a review session. |
