5. Evaluations and Individual Development Plans

In this section, we'll cover how to develop product managers by using effective evaluations and individual development plans. There are multiple frameworks that can help with assessing and growing talent in product management. Here, we will also explore best practices for creating actionable and personalized development plans for your team members.

Overview of Development Frameworks

There are various frameworks that are designed to help with the development of product managers. Here are three popular options worth exploring:

Peak Product Managers by Ravi Mehta: This framework divides evaluation into four quadrants, each containing three attributes, resulting in 12 attributes that can be assessed for gaps and growth areas.
Product Wheel by Petra Wille: This framework consists of eight categories for evaluating product managers, each with a series of questions for self-assessment and leader evaluation.
Marty Cagan's Coaching Tools: Marty Cagan provides coaching tools and articles with practical approaches for assessing and mentoring product managers.

These frameworks are helpful in understanding specific skills that are vital for product managers, allowing for a comprehensive view of both technical and interpersonal skills.

The Importance of 360-Degree Evaluations

When using these frameworks, it is beneficial to conduct a 360-degree evaluation. This includes a self-assessment, peer evaluation, and a leader evaluation. At the very least, conducting a self-assessment and leader evaluation is crucial. A 360-degree evaluation provides different perspectives that help identify blind spots and opportunities for development.

Self-assessment helps individuals reflect on their strengths and weaknesses, while peer evaluations add valuable insights from the people who work most closely with the product manager. For leaders, using these insights allows a more nuanced understanding of the individual, beyond what they observe directly.

Using Radar Charts to Visualize Growth Areas

Many development frameworks utilize radar charts to visualize skill levels across different attributes. By comparing self-assessments with peer and leader evaluations, you can identify specific patterns such as:

Overly Self-Critical Individuals: When someone rates themselves much lower than their peers and leader, it indicates they may be too hard on themselves. This helps a leader encourage and provide recognition where it's due.
Optimistic Self-Assessments: When a product manager's self-assessment is much higher than others, it’s an opportunity for the leader to provide guidance to align their perception with reality.
Skill-Specific Misalignment: Sometimes individuals believe they excel in a specific skill, while others may disagree. This gives the leader a clear target for discussion and growth.

These assessments should lead to meaningful conversations during 1:1s and become a part of the individual’s development plan.

Creating Individual Development Plans (IDP)

A common mistake in creating development plans is setting vague goals like "improve communication." Instead, it's important to make goals specific and actionable. For example:

"Speak more slowly and use pauses effectively": This goal is specific for individuals who tend to rush while speaking, making it hard for others to follow.
"Incorporate more real-life examples in presentations": This is useful for those whose communication may be perceived as too theoretical.
"Be more concise": For someone who tends to be overly detailed, this goal focuses on clarity and efficiency.

Providing granular feedback in a clear manner helps the product manager understand exactly what they need to work on. It’s also important to differentiate between communication skills in written versus spoken form, as the improvement needs and approaches may vary.

Supporting Development

There are various ways you can support a product manager's growth, including:

Courses and Workshops: Suggesting or sponsoring relevant training programs.
Mentoring: Encouraging internal or external mentorship for a specific area of growth.
Reading Material: Recommending books, articles, or other resources that target the specific skills they need to develop.
Hands-On Practice: Encouraging them to apply what they're learning in real scenarios, such as writing documentation, preparing presentations, or leading projects.
Specific 360-Degree Feedback: Conducting focused 360 feedback sessions on particular skills can provide targeted insights that drive development.

The Tour of Duty Concept for Career Alignment

One particularly effective approach to development is described in the book "The Alliance" by Reid Hoffman, Ben Casnocha, and Chris Yeh. The concept they introduce is called Tour of Duty. It focuses on creating well-defined missions that have a clear time frame and success criteria, similar to a military mission.

In this approach, both the leader and the product manager define a mission—an objective that they will work towards over a specified period (typically one to two years). During this time, both the organization and the employee benefit: the employee learns and grows, while the company gains their focused efforts on a specific project or objective. The agreement includes clarity on what will happen as the end of the mission approaches, providing transparency and trust.

Leaders and employees agree on the following aspects for a Tour of Duty:

Objectives and Success Criteria: What is the goal of this mission, and how do we define success?
Time Frame: Typically lasting one to two years, depending on the mission's scope.
Aspirations and Values: Ensuring that both individual and company values align for the duration of the mission.
Networking and Growth Opportunities: Allowing time for building professional networks that benefit both the individual and the organization.

Conclusion

Evaluating and developing product managers requires structured assessments, specific feedback, and well-defined growth plans. By leveraging established frameworks, using comprehensive evaluations, and employing the concept of Tours of Duty, leaders can ensure they are effectively supporting their product managers' growth while aligning their development with company goals. This not only helps in retention but also ensures that individuals are engaged and motivated throughout their journey.