Performance assessments as legacy systems have survived three industrial revolutions, but as we enter our fourth stage of digital revolution driven by knowledge workforce, it will become increasingly difficult to navigate through this stage without reinventing how we manage our workforce.
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How many of us truly believe that our performance review process adds value and that the time we spend managing the process improves results and the organization’s bottom line?
In a public survey Deloitte conducted recently, more than half the executives questioned (58%) believe that their current performance management approach drives neither employee engagement nor high performance. (Harvard Business Review 2015)
Well, for most of us, managing performance is one of the single hardest things we encounter as leaders. We’d like to think we do a great job, but we really can’t take credit for great performance – that is usually the doing of our motivated, engaged employees. Our “problem children” – now that is a different story.
Imagine this scenario: you’ve invested in the annual planning meeting to determine your corporate direction for the year. You’ve articulated the message to your staff – hey, you’ve even printed up posters that are prominently displayed around your facilities. But, will you ever see the results of your efforts demonstrated in your staff’s performance? Probably not, unless you go the extra mile and ensure that you link the strategy to their efforts.
But, how do you do that?
Performance management is undergoing some changes one of which is the push to mine data, apply metrics, and offer up analysis based on data and metrics. While this shift has the potential to reveal new insights, it should be approached with caution because your data and possibly some of your metrics may be dirty. Similar to the components of a clean diet, a clean analysis depends on identifying the best inputs, avoiding harmful ones, and having a comprehensive understanding of the outcomes you desire.
5 Tools to Help You and Your Company Thrive
Deadlines. Pressure. Expectations. According to Business News Daily, companies spend $300 billion in stress-related health care costs and missed work each year. Is your company one of them?
Stress is a common experience. Everyone is either stressed or has had stress in one form or another in the recent past. Unfortunately, many people don’t realize the effect it has on their health and work.
Do you suffer from any of the following symptoms?
● Chest pain