Employers looking to redesign their performance management process should know it isn’t a quick, one-step change which can be implemented overnight. Finding the right process, which can cause an impact in every aspect of the organization, is important. From employee engagement to turnover rates to simply creating a company culture which your employees feel is open, having an effective performance management system in place can make all the difference.
Research from Deloitte found that in 2014, 68% of HR respondents rated performance management as important or very important, and that number is growing. Performance management is a hot topic on the rise and acknowledged as something that needs to be given more attention, especially because something is wrong with the way things are being done in many organizations. Three out of 10 workers say their organizations’ performance management system actually helped improve performance, according to research from Performance Group, a New Zealand-based firm that consults organizational psychologists.
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