Posted by Julie • October 25, 2016 (Last modified July 29, 2018) • 3 min read
Wouldn’t it be wonderful if you could peek into a crystal ball and see your company’s employment future? We can’t tell you who will apply tomorrow or predict the next superstar, but we can give you the tools needed to best manage your talent’s performance.
The workforce is changing and with it comes transformations in performance management. Gather ‘round and peer into the future of talent management as we see it in 2017.
Hint: The following predictions will ease the stress of building that balanced performance management.
What exactly does your performance management system do well and what wastes the time of employees and managers? There are always new trends in business, so choosing to implement the new ‘thing’ every few years might actually hinder productivity and work quality. A process that includes a few key elements and eliminates the noise will keep employees on track without overwhelming the system. We see an easy-to-use performance management system with real-time reporting, flexible workflows, and a cloud-based system in your future.
Mentorship programs have become more prominent in people management, but performance coaching further integrates the practice into performance management tools. Instead of allowing the performance review to focus solely on the time and projects that occur between appraisals, performance coaching incorporates long-term goal development and assessments.
Managers become coaches and use a more hands-on leadership approach with the hope of developing employee skills with career objectives in mind. This is great news since 78% of employees would stay with their employer if they knew their career path within the organization.
There are instances when sitting a group of employees down in a conference room for a few days to go over new processes or skills is the best option, but they are few and far between. More and more companies are turning away from classroom lectures and turning to e-learning tools and other technology-enabled options. Video walkthroughs, immersive simulations and online guides or tutorials are making training more interactive and realistic which mirrors on-the-job learning. We see more informed employees who impact the bottom line of your organization supercharging your business!
Frequent feedback is becoming a necessity in performance management programs as nearly 60% of employees would like to receive feedback on a daily, or weekly basis. This is great for informal, real-time feedback, but structured reviews cannot happen as often. More companies will begin meeting in the middle with more frequent feedback and quarterly performance appraisals.
Goal setting traditionally aligns with the competencies of an organization. The work employees do revolves around meeting those standards and hitting the company’s goals. Now, leaders understand employees only remain with organizations that support skill development and career growth. Managers will meet this need by setting performance goals that meet competencies but also consider an employee’s professional plans, too.
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