The current landscape of effective performance management needs a transformation. Recent trends according to ClearCompany in performance assessment indicate that 85% of employees said they would think about quitting after an unfair review, and 34% of Millennials have cried after a review. The traditional quarterly and annual review systems have become obsolete and ineffective, failing to drive meaningful progress. It’s time for organisations to seize the opportunity to embrace an innovative and audacious approach. This blog delves into the actionable steps that organisations need to embrace in order to initiate the construction of the performance management system of the future.
It’s important for c-level executives to ensure their organisations cultivate an environment of open and constructive feedback on a regular basis. The key is to ensure a shared performance purpose, a robust framework of values and culture, and an inclusive atmosphere of psychological safety where any apprehensions or anxieties associated with feedback are eradicated.
Implement these best practices to enhance performance evaluation, adding frequency, perspective, and context to employee assessments:
Elevate Personalised Feedback Impact
Strive to infuse feedback into the fabric of everyday work by encouraging leaders to share their insights on individual or team performance during routine meetings or interactions. Picture this as a continuum of performance management. In order to set yourself apart from regular leaders and managers, take an interest in understanding human behaviour and develop traits and tactics that define expert feedback providers such as humility, empathy, courage, credibility and understanding. Alongside this, employees should be urged to build their self-awareness and resilience – qualities that enable individuals to assimilate and act on feedback with much greater effectiveness.
Measure Progress at Opportune Moments
Avoid limiting the cadence of feedback to once a year. Ensure that throughout the year, there are multiple touchpoints and opportunities for a dialogue on performance. People evolve and new skills are acquired, energy levels change and individuals should hold themselves accountable throughout the year.
According to ClearCompany insights “44% of employees still say they feel stressed every day at work, and just one in four believe their employer cares about their well-being. These numbers make it clear why employee well-being is a top performance management trend in 2023.”
There are multiple ways to ensure that wellbeing of employees is improved – this can be through benefits such as flexible working (location & hours), mental health program offerings, legal assistance or mentorship and development. Building an awareness of external pressures will go a long way to relieving stress that employees may feel when at work and therefore support in better overall performance through understanding and trust.
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