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January 20, 2012

HR Fact Friday: Know What Works in Performance Management

Filed under: Performance Management,Performance Pro6:00 am

What is it about the start of a new year that triggers a wave of online banter from one expert or another regarding what does or does not work in regard to annual performance evaluations? Why do we have them? They are a waste of time! Performance reviews are an outdated, antiquated fossil from the “dare I say it” Baby Boomer generation. Manager/mentor coaching is more effective. Social performance collaboration is the new black! Social, Social, Social!

It is part of my job to stay abreast of industry trends in the area of performance and talent management. I enjoy this research and have been doing it for quite a number of years so I feel I am somewhat qualified to throw my two cents into the ring every now and again.

Number 1: I understand marketing and I understand the HR services and technology industry. I have seen the performance management competitive marketplace grow from 5 primary competitors in as recently as 2004 to what now numbers by my best estimate, and inclusive of the many mergers and acquisitions in the industry, approximately 30—each trying to differentiate themselves and sell their service in a very crowded marketplace as unique, effective and innovative.

The plain facts are—and what any performance management program worth its salt must do, and do very well are:

 

  1. Foster open, clear and consistent COMMUNICATION between management and employees
  2. Document and prioritize performance OBJECTIVES by individual position
  3. Document and/or quantify RESULTS
  4. Be EASY to implement, understand, and use
  5. Align performance with COMPENSATION

However you want to package it and whatever you want to call it a performance management program that embodies all of these components will better position an organization to focus and prioritize its collective workforce to achieve individual and collective goals . . . and in the process develop, reward, and retain top performers and secure a more motivated, productive workforce.

So quite frankly it doesn’t matter what you call it and what kind of wrapper you put around it . . . if it doesn’t accomplish [at the very least] the 5 objectives noted above you are not positioning your staff or your company to get the most from the time, money, and effort dedicated to achieving performance management objectives.

HRN has been providing employee performance management and compensation administration solutions for over 20 years. That doesn’t make us dinosaurs holding fast to outdated ideas and methods. We know what works and we know what HR administrators and employees need and will use to accomplish their goals and be successful. Performance Pro has constantly improved, evolved and innovated over the years, and when combined with Compease embodies all of the 5 objectives described above plus many more user-friendly features and value-added content. In fact over the past 4 years (2007-2011) HRN Performance Pro clients on average have collectively grown their workforce 4-5% each year based on additional new employee user licenses as a percentage of combined overall user licenses. And this achievement has been made during a slow worldwide economic growth period.

If you are already a Performance Pro client you know what I am talking about and can nod your head in understanding and satisfaction. If you are not a Performance Pro client . . . become one. You’ll soon understand the Performance Pro difference.

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