If you and your team are enticed by the idea of scrapping unproductive processes, and paving the way for impactful workforce-related changes, here are some of the features you must keep in mind as you search for a performance management platform to help achieve these objectives.
Performance management has gone through radical shifts in the past few years. New industry best practices are continuously being invented and reinvented as companies strive to maximize the value of their employees. In this article we will go over the evolving definition of performance management and what you should expect when developing your company’s internal processes.
The Corporate Executive Board published a great piece of research about the Employee Performance Paradox. The paradox is that traditional performance management – we can lump the traditional approach to enterprise gamification here too – is overly focused on individual achievement.
The point is that today, individual achievement can only bring about half of the results enterprises need. The rest depends on collaboration, or, as the report says:
“The era of the star individual contributor is, in most cases, over.”
A public survey released by Deloitte (quoted by the Harvard Business Review here) more than half the executives surveyed said that their current performance management approach didn’t result in high performance or in increased employee engagement. Those surveyed are not alone – and the most recent announcement was that Accenture was getting rid of annual performance rankings and reviews. But wasn’t performance management – with all employees then rated on a bell curve – considered as a best practice for optimal organizational management? Let’s look at the drivers behind this new understanding of performance.
Accenture has 330,000 employees – and managers spend thousands of hours on getting trained on performance management and following the practice. What’s behind this huge departure from tradition, and what does it mean for the future of performance management?