What if your employees checked in on their work performance as often as they check Facebook?
According to Gartner, human capital management (HCM) applications are increasingly designed for daily use. The modern workforce has new expectations and requirements for technology in order to reach the productivity and performance they desire. One example of a result of this shift in technology is the annual performance review — shifting to a process of ongoing support and development rather than an HR-driven process.81 percent of companies today are rethinking performance management Click To Tweet
Introduction to Knowledge Workers
Many organizations are reinventing the annual review, in favor of continuous feedback, frequent check-ins, agile goal setting, and reviews that center on career development (not just compensation or bonuses). A staggering 81 percent of companies today are rethinking performance management, according to Mercer Talent Trends.
Part of the reason for this change is the fundamental shift in the way our workforce functions. More than 70 percent of today’s employees are knowledge workers, which means their performance is driven by their skills, attitude, and their ability to innovate and impact change.
For knowledge workers, output isn’t as easily quantifiable as it is for manufacturing or industrial jobs; success requires adaptability, engagement, and motivation. Traditional performance management simply isn’t equipped to measure these intangible skills.
The Generational Shift
It’s not just the type of work that’s changing but also the people. Millennials want — and expect — more feedback than other generations. And they’re right to feel this way; when employees review personal goals quarterly (or more often), they’re more likely to outperform their peers.As HR organizations evolve to meet the needs of a changing workforce, so too does HR technology Click To Tweet
As HR organizations evolve to meet the needs of a changing workforce, so too does HR technology. The way HR technology used to work — one core product that served all HR needs — isn’t working anymore. The compliance-first approach to HR is failing, slowly but surely. Technology tools provided to employees are just one example. Modern software for PM is one way around this. The integration helps organizations drive better decisions by providing a holistic view of employees.
Using your HCM with a modern PM solution allows organizations to easily synchronize employee and rich performance data providing a holistic view of employee performance from different perspectives. This approach also promotes improved collaboration for professional development and coaching opportunities between managers and employees.