MANAGING in the

NEW WORLD

Performance Management

Some of the leading companies within their respective areas, such as Accenture, Adobe and GE have revamped their performance and talent management processes. This has led to a beeline among others always trying to follow suit, assuming that what works best with the industry leaders, ought to be aped. However, this is leading to much upheaval among employees and their bosses, while consultants are making goof money. The new approaches favor a continuously ongoing process, backed by evidential data. However, since human emotions are complex and messy, this quantitative style does not always work out. Many want to go back to the earlier formal performance feedback. Human resource management teams must understand this need and revamp keeping such considerations. They must avoid blindly aping shiny, new objects.

Source:https://sloanreview.mit.edu/article/is-hr-missing-the-point-on-performance-feedback/

Uploaded Date:15 January 2019 

A system needs to be designed to ensure coherence and alignment between people’s interests and that of the organization. While most organizations these days talk of and want to implement business innovations, few have a clear- cut strategy on how to implement the same. An innovation lead change strategy is thus needed, which will be tailored towards the present VUCA (Volatility Uncertainty Complexity Ambiguity) demands. Once this is put in place, the “business as usual malaise” will get disrupted or may even disappear. It will also help people tackle any sort of cognitive dissonance affecting them. Such cognitive dissonance affects people entirely, as they get emotionally, physically and cognitively drained out. To tackle this situation, for a start, the companies must assess the gap between the targets outlined in the corporate strategy and the present reality. This gap needs to be the source of creative energy. New ways of applying creative tension need to be facilitated to help generate embryonic outcomes. A combo of pull and push methods need to be applied to generate authentic change among the people using a holistic perspective.

Source:http://www.innovationexcellence.com/blog/2018/10/22/mobilizing-peoples-creative-energy/

Uploaded Date:28 December 2018

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

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