Performance management could use a back-to-basics approach. Pairing a coaching and development model with a social platform can help.
The move to a coaching and development model doesn’t mean companies throw out hard metrics, the cornerstone of the competitive assessment model. Instead, metrics are used more strategically.
Social platforms for performance management help to ensure this kind of constant feedback cycle because they allow managers and employees to show progress and modify goals that were originally discussed in one-on-one meetings.
For more than 100 years, global agribusiness Archer Daniels Midland, a company with 30,000 employees, had no official performance management process.
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To overhaul its performance management strategy, New York Life built senior leadership capability around innovation, collaboration and accountability.
Talent managers need not redesign the entire process, but instead simply chip away factors that cause the most pain.
Lisa Rowan & Peter McStravick
To address the variety of challenges HR executives face, they’ve increased their use of performance management solutions to achieve greater visibility into their talent pool.