Is your workforce not engaged? Do you lack insights into their personal goals and objectives? Are you as tired of limited annual reviews as employees are? Wish you had a more complete view of productivity and office morale?
If you answered "yes" to any one of those questions, then it might be time for you to investigate how continuous performance management (CPM) can help your organization succeed in 2018. Now's as good a time as ever, as a recent BetterWorks survey found 79 percent of responding human resource executives planned to up their performance management spending in the new year. Organizations are scrambling to upgrade their performance management processes as the world changes and managers see new generational trends and employee preferences shift the workplace.
Concepts like constant feedback, increased recognition and more nuanced goal-setting have changed the game forever, and increasingly businesses are looking at CPM to bring them up to speed. Here are three benefits of continuous performance management you should consider:
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1. The entire office is on the same page
There's no substitute for everyone operating on a shared understanding. When disparate directions, vague instructions, conflicting guidance and silence rule the workplace, it's incredibly difficult for anyone to get anything done. A primary benefit of CPM is the fact that it stresses communication – even overcommunication if it's necessary. By having an ongoing dialogue open through the year, managers can more effectively touch base with employees, as well as put out a cohesive message that everyone can rally around.
2. Always looking forward
While it's important to keep a eye on the rearview mirror, companies always need to be looking forward. The fast-paced and oft-disrupted world of business requires organizations to have their next big idea already in mind and ready to roll into action. By engaging in a CPM structure, managers can more effectively consult with employees on their goals and objectives. Having a meeting to hash these pursuits out can help employees and their employers more effectively respond to new demand, or tweak their internal operations in a way that generates greater efficiency.
3. Easier to motivate and engage
When businesses save all their feedback for a single year-end review, they shoot themselves in the foot in a couple ways. One, employees crave feedback throughout the entire year; and two, that feedback is useless when it comes months too late. Instilling a CPM regimen can help managers more competently tap into employee morale and engagement, both on an office and individual level. Having regular, two-way conversations can encourage employees to talk more, as well as lead managers to give them higher quality feedback. Your employee relationships are among the most important aspects of HR, and like plants, they need constant watering, not just a deluge at the end of the year that does more to hurt than help.
When companies endeavor to implement CPM in their offices, it's important to remember not only the human element of talent management, but also the practical technology needs. CPM can't effectively be carried out by pen and paper, or even lackluster solutions. Businesses need tools that give them insights, control and repeatable workflows to optimize CPM. Talk to BetterWorks today to learn more about how our solution can help your organization make the most of CPM.