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Cash Flow Management
Cash. Most people want more. When running a small business it's particularly important to monitor how cash is coming in and how much cash is going out. This month, I'd like to take a few minutes to share some ideas on cash flow management as in...
Debt Management Plans - A Way To Survive The Debt And Come On Top
Debt Management Plans
Debt Management Plans (DMP) is placed one step beyond credit
counseling and a stone's throw short of bankruptcy. If you are
too deep into debt and unable to pay them, a credit counseling
agency may recommend Debt...
Experiences of Management Coaching (Part 2)
In our experience, we have found that there are several reasons managers fail to get employees to see and acknowledge that they have a problem. They assume. Many managers bypass the step of getting agreement because they assume that an employee...
'Fixed Ratio' Money Management
Money management is the most important and overlooked subject in
trading!
In my opinion, the best money management system for
Forex/Futures traders is outlined in great detail in Ryan Jones'
book The Trading Game: Playing by the Numbers to...
How to Improve Your Management Procedures’ Usability
Are your people consistently following your procedures? Each year, organizations lose thousands of dollars through common mistakes and lapses in usability. But what does that mean for business owners and executives?
Ask yourself:
Are...
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Management Coaching vs. Performance Appraisals
The question often comes up, “Isn’t management coaching a lot like the familiar performance appraisal process?” Our answer is that the two are dramatically different. The CMOE team originally became interested in the coaching process because of our experiences with the deficiencies of performance appraisal. We were asked to devise a customized performance appraisal system, along with a training program, for a Fortune 500 corporation. After working through the resistance that naturally accompanies adoption of a massive program such as this, we noticed one consistent piece of feedback coming from managers at all levels. That message was, “Give us some help, ideas, and training on how to manage an employee’s performance from day to day, from one concern to the next.” These managers grew to accept the performance appraisal process, but they felt that an annual or series of annual performance reviews wasn’t the answer to improving employee performance and maximizing cooperation. Something less formal and more flexible was needed to use with employees on a more frequent basis. So we began our preliminary research and data gathering to construct a coaching model or tool to address this very appropriate objection to performance appraisal as the primary management tool for human resources.
Because of this experience, we spend considerable time delineating and defining the differences between these two processes. The table below has a few points that helps differentiates the two methods. We hope it will reduce confusion and ambiguity and be useful for those who may be interested in using both processes in their organizations.
Management Coaching vs. Performance Appraisal Definition Interpersonal influence, exercised by a leader in specific situations or in response to critical incidents or development opportunities, designed to attain a specific goal or planned change in behavior or attitude. Integrative and interactive communication, dialogue, and exchange are used to gain employee’s support for new direction and change. Formal and more general feedback and information at predetermined intervals designed to apprise employees of the leader’s perception of job effort and success. To let employees now how they are doing and their relative value to the organization. Goals/Outcomes To take immediate and full advantage of development opportunities as they occur. To have the employee understand and accept changes that will increase their effectiveness. To eliminate obstacles and impediments to better performance. To provide information for management decision making (rewards, compensation, discipline, promotions, training, succession planning, etc.) To reinforce desired behaviors and objectively evaluate performance over time. To close the books on post performance and plan new goals for the coming year.
About the Author
If you would like to learn more information about Management Coaching and the differences from Performance Appraisals, please contact one of our Region Managers at (801)569-3444.
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