The intent of the Performance Management program should scream “development”. But is that the case?
Let’s just tell it like it is…performance management is under stress and the people running the show even more so. Even in the most progressive organizations that have reportedly made the leap towards a more modern performance management program. Practices that are thought to be outdated (ratings, reviews, etc.) are slowly being shown the door and more progressive practices like no ratings and continuous feedback are hogging the spotlight.
Organizations are struggling with what happens when you take away decades of practices that managers and management were used to. What happens when the tools to make core decisions like promotions, compensation are taken away? How can organizations start making the shift towards a more contemporary Performance Management Program?
CHROs today are under pressure to link HR programs to the productivity gains that an organization expects. That’s what happens when you get a seat at the table, sometimes you are also expected to set the table. Performance Management is the catalyst that triggers talent activities within organizations. It informs recruitment on the kind of people that succeed in the company, it informs how the Learning Management program needs to be structured and it is the most critical input into the succession management strategies and tactics of an organization. These expectations along with multi-generational workforces and the need to drive growth in an increasingly complex environment have legacy approaches stressed.
Shifts in the practice of performance management
There are 5 major shifts in the practice of Performance Management that we see today. These shifts are not only evident today but will continue to drive decisions around the practice of Performance Management over the next 2 to 3 years’ timeframe. These will test an organization’s ability to adapt and manage the disruptive and incremental changes that will follow.
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