What is a Performance Development Plan?

Introduction:

In the world of business, it is necessary to keep track of the performances of managers and employees working in different departments. It is equally essential to set up a structured approach to performance development, explaining the need of such performance development plans. But, what is a performance development plan, really? 

In this blog, we will try to figure out the idea behind a performance development plan, and why it is so essential in a modern workplace. With the help of examples, we will see how to create such a plan and how to structure it according to the needs of our company. 

Performance Development Plan:

A Performance Development Plan (PDP) is a structured process which helps individuals to enhance their skills, achieve their career objectives, and align their personal growth with the goals of the organization they are part of. It involves outlining clearly defined goals, actions and timelines to foster continuous improvement in performance. There is no one way to set up these plans, and they depend on the purposes for which they are used. 

Let’s take an example from the movie ‘The Pursuit of Happyness’ to better understand the idea of a performance development plan. The movie tells the story of a salesman named Chris Gardner, played by Will Smith, who is struggling with financial hardships and personal problems. His aim is to become a successful stockbroker. His performance development plan includes learning rigorously about the world of finance and stock trading through books, enrolling in an unpaid internship to gain professional experience, setting up a timeline of several months, working on specific skills and doesn’t stop until he has achieved his objectives.   

By developing a rough performance development plan for himself and sticking to it, he manages to land in the lap of success against all odds. We will now look at how these plans are created in companies, but before that, let’s understand the significance of them. 

Also Read: Importance of Personal Development at the Workplace

Importance of Personal Development Plans:

• Clarity and Focus:

A well-laid out PDP can help employees to see what is expected of them with respect to every project, and also guide them to focus on those tasks which are most essential to the organization’s objectives. A performance development plan provides a clear roadmap for their professional journey.  

• Goal Alignment:

PDPs also help in aligning individual goals with the broader objectives of an organization. This enhancement improves the effectiveness of the organization and creates a sense of unity and purpose. 

• Targeted Performance Improvement:

These plans are designed and executed to address performance gaps. Employees who are struggling with maintaining and improving their performance can be greatly aided by working according to these plans. The resulting enhanced performance can improve team dynamics and contribute to the organization’s success. 

• Talent Retention:

PDPs help in creating an environment that values development, thereby increasing organization’s chances of retaining top talent. Talented employees are more likely to stay committed to an organization which invests in their professional growth.  

• Continuous Feedback:

They generally include regular check-ins and review sessions. This makes sure that the employees are receiving constructive input from mentors, supervisors and colleagues. Feedback can be a great aid in the improvement of performance. 

Creating a Performance Development Plan:

If you are wondering how to create a performance development plan from scratch, here are some concrete steps that will help you in making it.

• Define Goals:

Set up SMART goals. Make sure that the objectives you set are in alignment with your personal aspirations and the organization’s strategic priorities. 

• Identify Areas for Development:

You need to make sure that you have figured out the potential areas for development. These areas may be technical, soft-skills, or industry-specific knowledge. 

• Set Actionable Steps:

The next thing to do is to break down your goal into smaller components, which can be achieved through concrete actionable steps. These actions can include attending workshops, taking online courses, seeking mentorship or participating in projects. 

• Resources and Timeline:

Identify the resources you will need and make sure you have access to them. Also figure out a timeline according to the steps that you outlined before. Having a clear timeline adds urgency and accountability to the plan. 

•  Regular Check-ins:

Schedule regular check-in meetings with the designated person, as these meetings help in providing feedback, discussing progress on the plan and see if any adjustments have to be made.  

• Review and Adjust:

Try to review your plan periodically, and make sure that you are progressing at a desired rate. See if there are any adjustments to be made in the plan or the execution and try to be flexible about it.

Also Read: Mastering the Art of Strategic Management – Best Principles and Practices

Learn with DT Evolve:

While you are getting familiar with performance development plans, and all its intricacies, it would be beneficial to look into the way planning generally works. As managers, you need to have a good idea of how planning and priority management works. If you are open to learning it, DT Evolve has a course for you. This course will cover essential aspects such as managing shifts and leaves of employees and delegating tasks in the most productive way possible, while recognizing the ability of the employees. With this course on planning and managing people, learn to get things done efficiently with the least amount of resources and efforts. Here’s the link to the course, Planning and Prioritizing Management.

Conclusion:

In this blog, you learned about the concept of a performance development plan, and how it works in a workplace. We looked at the importance of it, which included clarity and focus, targeted performance improvement, talent retention, continuous feedback and so on. We finally learned how to create a performance development plan by following steps from defining the goals to reviewing and adjusting the plan according to the requirements.