The Current State of Today’s Performance Management Industry
If you’ve been following the performance management industry, you can appreciate how much it’s changed and evolved, particularly in the past few years. One thing is clear: there’s a revolution going on in performance management. Here are some recent highlights:
- In 2013, CEB research found that 86% of organizations had recently made significant changes to their performance management system, or were planning to.
- In 2014, a Deloitte survey found that 58% percent of companies surveyed did not think performance management was an effective use of time.
- In 2015, analyst Josh Bersin reported “there is a massive replacement of licensed, traditional HRMS systems taking place,” and he expects “the market for new performance management systems is emerging” in 2016.
Performance management software and processes from Six Disciplines offer an integrated suite of web-based and mobile apps for agile, mid-market organizations, supporting continuous feedback, productive one-on-one conversations, weekly and quarterly check-ins, meetings, goals management, and plan management.
With Six Disciplines, your employees can track and update the progress of their plans, goals, and performance results at any time, on any device. Managers can easily set up multi-rater feedback for their team members, resulting in more meaningful one-on-ones and more engaged employees.Six Disciplines enables performance management and coaching to be both team and employee-driven. This approach drives engagement and motivation, and ultimately, improves organizational productivity with consistent execution of your strategy.
The Advantage of Continuous Feedback vs. the Annual Performance Review
Many organizations have experienced the dysfunction of the once-a-year performance conversation, and they’re increasingly ditching this traditional practice. The “once and done” annual performance review event is being replaced by an ongoing and more real-time stream of feedback between team member and leader (employee and manager). This can take the form of weekly team check-ins, quarterly one-on-one check-ins, and multi-rater feedback, which recasts the annual performance review to be developmentally focused (not performance or compensation focused). With Six Disciplines, your organization gets the best of all three worlds: continuous feedback, multi-rater feedback, and annual performance reviews, which are focused on future performance and leadership development – not past performance.
Shifting from a Performance-Based to a Development-Focused Review
Because feedback is delivered continuously under Six Disciplines, the previous annual performance review process can now shift to a capabilities and skills development process of the individual and the team. Since less time is required to review the past, the dialogue between manager and employee becomes more forward-thinking, future-focused and career development based.
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