By Neeraj Narang, Director – HCM Product Strategy
Employees are the backbone of the organization and their happiness directly correlates with happy customers. This is even more important than ever as companies become multi-generational, challenging traditional HR processes including talent management.
Many CEOs cite misalignment of talent process as a top concern in managing the future workforce, especially as their staff view the traditional annual performance evaluation process as a time consuming, excessively subjective, and irrelevant exercise. HR leaders of many organizations have been focusing on improving performance management process for several years, but 82% of HR leaders still believe this process is not effective at achieving its primary objectives.
To keep employees happy, engaged, and productive, organizations need to continuously innovate and modernize. Many of the HR leaders I speak with tell me that they are either deciding or already in the journey of making changes to their performance management processes and Gartner’s 2019 Performance Management Benchmarking Survey corroborates these conversations, showing that 81% of HR leaders are making changes to this process.
Why Are Organizations Revisiting Performance Management Process?
The most common drivers motivating organizations to revisit existing performance management process are:
Heightened demand for simpler processes