Technology in Total Rewards

Performance Management

Performance management is an important part of workforce management. In today’s performance management programs, the once-a-year program is being replaced with more frequent check-ins and feedback. Today’s programs are also less rigid, more forward thinking, and focus on performance attainment, teamwork, and the big picture. The following is an example of a redesigned program:

Performance Discussions (Quarterly)

• Goal setting and attainment
• Individual and Team Performance Achievement
• Opportunities
• Contribution
• Eliminate cumbersome programs and forced rankings
• Consider retention of performance ratings

Coaching/Feedback (Ongoing)

• Regular performance feedback
• Multi-sourced coaching/feedback
• Personal development and growth

Development (Ongoing)

• Skill development
• Opportunities for growth and development in current role
• Opportunities for future growth and development such as lateral moves and promotions

Although some organizations are eliminating performance ratings altogether, the vast majority have retained them as part of their employee management program.

Performance management, while important, is a time-consuming task that most supervisors would rather not have on their plate. It involves setting goals and objectives for employees that are aligned with those of the organization. To be effective, the supervisor has to review progress and provide feedback to the employee on a regular basis.

There are platforms that can manage this and reduce the supervisor’s workload. These platforms may be used for individual and team performance management and evaluations and results may be reviewed by the HR team and anyone with access.

Performance management platforms may have these features:

• Customizable assessments and surveys for different stages of the review cycle
• Scheduling for formal reviews and check-ins
• Automated assessment and survey reminders
• Progress tracking with up-to-date status reports
• Feedback collection from all selected sources with automated analysis
• Appropriate feedback sharing
• Training recommendations

Performance management is ripe for AI enhancement and platforms that have incorporated AI use it to:

• Analyze feedback on employees
• Organize and track 360-degree reviews
• Provide insights into employee performance
• Measure employee engagement
• Recommend individualized development and skill gap analysis