Looking for some advice on improving our performance management system at my business. When we started the company, we had one primary role we were hiring for and created a really extensive rubric for that role / experience level but as we've scaled / our roles have diversified, our process has not scaled with the company. The old process we created is totally out of date at this point.
We're a SAAS software and consulting company that hires a lot of high performers right out of school who are used to a rigid grading system so our lack of capability in this area has come up a few times when team members give us feedback on the business. We do weekly checkins with each employee and those go fine, it's just the bi-annual reviews that aren't run very well.
We can ask team members to complete a self assessment and rate themselves on a scale of 1-5 but struggle to give them benchmarks to assess themselves against. This ends up with a process where performance ratings feel arbitrary, team members struggle to know what specific behaviors lead to meeting expectations vs exceeding, etc.
As an owner, I haven't prioritized developing rubrics for each individual role (we've probably have 6-10 roles at different levels of experience) because they'll likely become outdated as we grow (as our original system did). As such, ratings are not tied to compensation very well (we've got a lot of 3-4s but end up paying people what we feel is fair for their contributions, you end up with two 4s that might make completely different amounts).
The other thing is that we're relatively high growth (went from 10 to 20 employees this year, trying to add 10-15 more in 2019) so roles and responsibilities evolve quickly. Also, no full time HR so I'm creating / managing any system we create.
Anyone in the small business / SAAS world with a solid performance management system that scales / works well with their team. I'd love your recommendations!!!
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TLDR: High growth SAAS and BPO business with a weak performance review process - Looking for tips from people who have solved this problem at their company!
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