How to Implement Modern Performance Management

You lose your star employee. Your engagement survey returns dismal results. Your leadership team wants to know why the company you acquired seems to be declining in productivity for the sixth month straight.

But you’ve reviewed industry best practices and case studies from fellow HR practitioners, and you know these nightmare scenarios are merely justification for your master plan: to relaunch newer, better performance management.

The changes you make will have a direct impact on retention, engagement, culture & productivity Click To Tweet

If you’re like most companies, you’re on track to launch a new performance management program within the next 12 months. Whether it’s real-time feedback, check-ins, agile goal management, or just a less-painful review process, the changes you make will have a direct impact on retention, engagement, culture, productivity, and hiring — from the moment you introduce them to your team. The companies that successfully modernize HR programs report undeniably positive results.

Getting the executive team on board with an investment in performance management is just the first step. Implementing a strategy and rolling out the right technology is the next.

Consider your current attrition rate. How many employees will you lose before your next review cycle? Click To Tweet

When you have momentum to modernize HR programs, waiting even six months can significantly impact employee retention and engagement. And this stuff matters now. Consider your current attrition rate. How many employees will you lose before your next review cycle? Can you afford to lose them? How will that loss affect hiring?

A user-friendly performance management tool can be rolled out to your entire organization in a matter of weeks — without a complicated onboarding process. A performance management tool that’s built for employee adoption means fast feedback, data, and results.

Here are the core areas to consider when choosing a performance management tool:

  • Goals
  • Real-Time Feedback
  • Performance Reviews
  • Adoption
  • Customer Success
  • Infrastructure

Yes, impacting your people strategy will require an investment. Your HCM suite will always be your system of record for HR, but if you’re invested in creating an agile HR organization, you’ll need the right tools to support your efforts.

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