Improving Performance – The PRICE system

Blanchard and Lorber, Ph. D’s and co-authors of Putting the One Minute Manager to Work, explain how to involve everyone in improving performance in their PRICE system.

They suggest the following five steps:

1. Pinpoint:  define key performance areas in observable, measurable terms.
2. Record:  performance measurement
3. Involve:
1. Share information with whoever is accountable and/or can influence performance
2. Involve in establishing activators (areas of accountability, performance standards, instructions)
3. Consequences for goal accomplishment have to be agreed upon.
4. Coach:  how are you going to supervise, observe their performance, and give them feedback
5. Evaluate:
1. How will it be done
2. Anticipated payoff for established performance
3. Involve employee via self-evaluation
4. As performance improves feedback sessions should be scheduled less frequently.  You want to gradually give more and more responsibility to them for monitoring their own performance.

Like any other system, if it is failing, check the input variables for inaccuracies, inconsistencies, consequences, etc.  Perhaps the goal is too easy, or maybe too difficult to achieve.  Maybe there are non-motivating consequences involved.

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