We spent the first half of 2016, visiting established enterprises in Baking and Financial services, IT, Multinationals to many others. In many of these fast growing companies, the hot button topic people wanted to discuss was Employee Performance Management.
We’ve witnessed how performance management was discussed during the last year in HR blogs and research papers. Based on this identification, we wrote about the future of performance management in our blog posts. We discussed how annual performance reviews will get redundant. The traditional way of conducting the performance review based on a superior and employee conversation will no longer add value to an employee.
We discussed the adoption of instant & constructive feedback, employee recognition, improving the experience of a performance review in the future. As almost every company we visited are starting to capitalize on this core aspect of HR, we believe the new wave of performance management we predicted will crest faster in the years to come.
We’ve seen how the management thinking is shifting towards a strategic arena with performance management. CXOs, HR leaders are now more concerned over improving employee engagement and motivation which would ultimately result in better performance. How do these professionals require performance management to improve? We will narrow this entire list down to 3 aspects, which would be mandatory in future performance management software solutions.
Simplified Performance Management
We believe Performance Management should not become the usual cumbersome 1-to-1 review going forward. Performance management software vendors should re-think their efforts and incorporate practices to reduce complexities in performance management process. Simplified performance management would help HR organizations to keep the entire organization engaged with the process better
Let’s dive deep…
Engaging and Progressive Performance Management
Performance management practices should help organizations to deliver a reviewing mechanism with rich experience. The mechanisms of conducting reviews and analysing performance data should happen through better interfaces of a Performance management software rather than wasting hours to complete reviews on paper. Further the performance review should enable organizations to empower employees and help them identify skill gaps, improve/remedy those gaps to perform better in the future.
Informative Performance Management
Performance management systems should generate insights/ analytics to support vital employee performance decisions. Ability of a performance management system to generate useful performance insights will help the management to compare employees, departments and understand the overall state of organizational performance.
We are certain these three expectations of a performance management system would rise in the future, which informs companies to replace their performance management systems in 2016 and HR software vendors to re-engineer their performance management software solutions to ensure simplicity, engagement, progressive employee performance and strong performance insights.
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