MANAGING in the

NEW WORLD

Performance management reviews tend to be like the Pandora’s Box. They open up trouble for all. The ones reviewed often feel demotivated as they do not feel their work getting valued, while the reviewers are let down by their efforts not having the desired effect of increasing motivation levels within the team. That is why, a number of companies have already made changes to their performance management systems. Many companies try to recover from their flaws too quickly making a mess of the entire process. After due observation, two steps have been identified, which can help ensure such reviews benefit all the stakeholder groups. Firstly, the organization’s corporate strategy as well as future outlook must be clearly defined. All processes must align with this bigger picture in mind. The ‘how’ has now become as important as the ‘why’ at such reviews. Another tenet of talent management, oft-ignored is employee engagement. This includes a thorough analysis of what employees, desire from these meetings and their pain points at work. Instead of being a mere HR exercise, the performance management redesign must be curated with due discussion with the actual people involved.

Source:https://www.mckinsey.com/business-functions/organization/our-insights/the-organization-blog/crucial-steps-to-shape-your-future-performance-management?cid=other-soc-twi-mip-mck-oth-1802&kui=oRwLpIXVoSJfnDl6CuO1hg

Uploaded Date:17 March 2018

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