Performance management and reward

Performance Management is a term that has only been in use for the last 20 to 25 years. It was never used in workplace or business before. Performance management really only has 3 different steps. It is very simple and very easy to understand. I will share with you these 3 steps here.

First step in performance management is Goal Setting. With goal setting it has to be a call that you think is a bit hard for you to achieve. If you have made a $100 a week in the past and you are setting your goal as $110 a week that is not right criteria for Goal Setting in performance management. In performance management you should raise the bar to $200 a week or $500 a week. This allows you to take initiative to learn new skills, master new strategies, speed up or change your work ethics, make you more focused and other necessary changes that are possible but you didn't think of before.

The Second Step in Performance Management is Encouragement. You need to either encourage yourself to take action or you need a time (usually known as the mastermind team) that encourages you take action. You get encouragement from fellow leaders and team members that are dedicated to your success. When you think it is not possible or you want to quit your they Encourage you to be consistent and persistent in taking action. Action is one step at time to your desired goal. Daily focused action is required for you to be successful in your chosen field or in this case to reach your desired goal. You cannot climb a big mountain in one day. But you can set up daily targets and move towards your ultimate goal in small steps. There are a lot of factors that will say you can't do it you can't make it. You have to learn how to shut that voice of the nay sayers and move ahead.

The third step in Performance Management is Rewards and Consequences. When you take action you should be prepared to face the consequences and should be receptive of the rewards.

When you raise your goals bar you are willing to take risks you will make mistakes it is part of your learning curve. It is easy to read a book but the real art is to implement the teachings. That is the number 1 reason why 97% of entrepreneurs are not successful as they do not take these 3 steps of the Performance Management seriously. They are afraid to set their standards high as it allows more structured work ethics and discipline. It demands more of your excellence and it also demands to change your habits which is the toughest of all. But for things to change for you you have to change. You need this mindset, you have to let yourself grow.

So set the bar high, take action and be worthy of the rewards that follow. All the best and I sincerely hope this article on performance management is of help to you all.

To your success,

Anshul Choudhary

Online Marketer and Business Coach

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