Continuous performance management isn't a new concept, yet it seems to evolve with each passing year. The techniques used in 2012 are different from those employed in 2016, and 2018's will be different still.
Businesses that don't remain abreast of these trends will quickly fall behind. Here's a brief summary of how CPM will change in 2018 and beyond:
Feedback strategies will continuously evolve
One major outcome of CPM is to help employees continuously improve. After every feedback or check-in session, your team members should leave with the tools or strategies to help them better achieve their goals.
Shouldn't the concept of CPM also evolve in a similar manner? It's a cycle, after all. The better performance management strategies you use, the more likely your employees are to improve. They can, in turn, provide better feedback on the CPM process, which leads to even stronger outcomes.
As your employees leave each check in with ways to improve their performance, so too should you leave with feedback on how your business employees CPM. Ask your team members what works, what doesn't and what they'd like to see differently. This way, you can revise your feedback strategy as your employees better their work habits.
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Leaders will use goal management software to provide better feedback
When employees frequently set and track their individual goals, managers can more easily observe their long-term working habits. They can see who completes tasks early, who likes to take their time, and who scrambles to complete things at the last minute. This gives managers a more in-depth understanding of their team's working habits – more so than simply discussing these habits – which then helps them provide better feedback. If an employee says they like to work ahead but his goals are always logged after deadlines, managers know to help this person with his time management.
CPM will function as a tool for retaining top talent
Forty percent of employers around the world are struggling to find talented employees, according to ManpowerGroup. Unfortunately, the good employees businesses do have may be likely to leave. Research from Gallup found that high talent, low engagement staff have some of the highest turnover rates, implying that productivity doesn't necessary correlate to job satisfaction.
If you look closely, you may find that some of your best employees are also the least engaged. These people will eventually leave your business to find what they want from an employer – development opportunities, a better company culture, rewards for a job well done or another benefit.
CPM is a powerful tool for helping employers address internal talent issues. Managers can use regular check-ins to identify discrepancies in work performance and engagement, then directly ask high performers what they expect from their careers.
Using CPM as a long-term strategy
CPM isn't an instant fix, but that doesn't mean you can abandon it after a year. When implementing a new performance strategy, it's important to remember that this technique will be used long term. As such, it will change every year, bringing new ways to manage talent and improve performance. BetterWorks is ready to help your business adapt to these changes and best utilize your talented team members.