This is the age of gig-economy where career experiences take precedence over the brand value of the company and employees’ personal branding and marketability is more important than that of their employers. While it may be a tectonic change for the companies and their HR teams, this is the truth of today!
In the three decades of my professional experience, I have observed that the more people gravitate towards newer modes of communication, their ability to wait for responses comes down. Since the advent of social media, a sense of urgency has infiltrated the personal and professional lives of the people, especially those who are digital natives or have embraced the digital way wholeheartedly. This is in stark contrast with the older generations that lived in an age when a 12-hour wait for a trunk call was considered ‘lightning quick’. This proclivity for quick turnround-time has also percolated into the organizational work-culture across the globe. Performance management has ditched the TTYL approach and even ASAP has been deemed too slow for the future of work! Modern-day workforce performance management is all about communicating Right Here Right Now.
Millennials constitute a large percentage of today’s workforce and they seek a different experience than their predecessors driven by a culture of openness, better and more frequent communication, teamwork, timely mentoring and career progression programs. Traditional approaches are bound to fail in the technology-driven dynamic corporate environment; therefore, a modern performance assessment perspective properly aligned with business growth, employee aspirations and organizational values are essential.
Evolution of Performance Management
This story is from the April 2019 edition of People Matters.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the April 2019 edition of People Matters.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
How Digital Transformation Can Power The Great Reset
Technology has the potential to serve as the key enabler of change between digitalising administrative tasks and fostering human connections
The Crypto Meltdown Of 2022
FTX implosion: A setback, but not the end for the crypto market
Govern Pre-IPO Unicorns to Create Value; Not Valuation
Billion-dollar startups always make the headlines. But is there true value behind those eye-catching valuations? How can proper governance be implemented for these much-hyped companies?
On change and change management
The best way to end the year, especially such a disrupted one as 2022, is by laying the groundwork for the year to come. Michelle Yong, Head of Resourcing at Shell, offers some insights on change management to bring us forward into 2023
The Great Reconnection: A paradigmatic moment for employers and employees
This year has not been a good one for employee retention. The Great Resignation, originally thought to be a US phenomenon, has emerged in Asia now. But is there a way to turn it into the Great Reconnection?
Lessons Managing in leadership: a global hybrid team
What takeaways can we draw from the pandemic? Fatima Koning, Chief Commercial Officer at IWG, shares what the last five years have taught her about managing a global sales team across 120 markets in the hybrid model
Eight HR trends that we saw throughout 2022
As companies manage their workforces in a dynamic era, HR departments have continually adapted and adjusted, and never more than this year as digital acceleration and workplace evolutions came together
One way to turn the tide of employee retention
There's a surprising link between skill development opportunities and job satisfaction. Here are some ways of boosting skilling and thereby talent retention
A key focus for L&D going into 2023 should be business alignment
Venkat Subramaniam of Degreed believes that learning is core to business success and organisations need to invest in the right processes and technologies to adapt to continuous change
WOMEN IN LEADERSHIP CAN BE GAME GHANGER FOR INCLUSIVE FUTURE OF WORK
BREAKING FREE FROM THE STEREOTYPES IN THE INSURANCE SECTOR, PAMELA THOMSON-HALL SHARES HER JOURNEY OF BEING A CHAMPION FOR WOMEN AND BRINGING ABOUT A CHANGE IN A MALE-DOMINATED INDUSTRY
