I don't have a corporate "performance management system." My "system" is a simple, human one. A good tradesman is a professional who stands by his work, and my job as the boss is to ensure my team has the right support to do that.
The "major change" I've made to my "system" is a simple, but crucial, morning safety chat. Every morning, before we start a job, we have a quick chat about the work, the risks, and what's going on in everyone's lives. This is my "performance management system." It's a way of ensuring everyone is in a good headspace before they start a dangerous job. A person who is worried about something at home is more likely to make a mistake on the job.
This had a massive impact on "employee performance." The chats have led to a much better team dynamic. The team feels more connected, and they're more likely to look out for each other. The "impact" is on my business's reputation and my sales. A business with a happy, safe, and professional team is a business with a great reputation.
The most valuable lesson I learned is that a business can't succeed without a great team. A happy, safe, and professional team is the best "performance management system" you can have. A person who feels that their boss has their back is more likely to do a good job.
My advice is simple: your best "performance management system" is a good dose of respect. You can't build a strong team with a bunch of memos. You have to build it with a human connection. Stop looking for a corporate gimmick and start building a real team. That's the most effective way to "improve employee performance" and to build a business that will last.
