Tracking performance and its subsequent management is now extremely crucial, having caused much friction at several places. Three practices have been identified which can lead to successful performance management. First of all, the performance goals need to be linked to the business priorities. Management training and coaching need to be incorporated. Focus on these must be towards fairness in perceptions. This will lend to better employee development practices. Compensations too will need to be differentiated at separate levels. Compensations conversations though must be separated out from formal performance evaluations. Mobile technologies have had a positive effect on performance and talent management. This has helped spark increased positivity at work, as stated in a study by the McKinsey Global Institute.

Source:https://www.mckinsey.com/business-functions/organization/our-insights/harnessing-the-power-of-performance-management

Uploaded Date:03 December 2018