New Trends in Performance Management

       
“Performance management can be defined as a systematic process for improving organizational performance by developing the performance of individuals and teams” (Armstrong, 2006)
Over last five years performance management (PM) has changed dramatically (Sloan, et al., 2017). Continuous PM is an emerging trend and most of the top companies adopting it with there own research. Agile goal management, continuous feedback and check-ins are becoming common performance management practices (Sloan, et al., 2017).
Most of the top company executives feel the need to redesign the performance management, 79% of them rate it as a high priority (Sloan, et al., 2017). 

Note:From Performance management: Percentage of respondents rating this trend ‘Important” or “Very important”, (Sloan, Agarwal & Sherman, 2017, p.40)

Today companies operate differently they value team approach, feedback, training and development and performance (Bersin, et al., 2017). As organizations become more team centric PM should change from evaluating individual performance to evaluate the contribution to team (Sloan, et al., 2017). 
With this companies moved to continuous PM, companies like Cisco, General Electric(GE), IBM and Patagonia continuous practices to empower local leaders create better teams (Sloan, et al., 2017). Companies like Google, Cisco, GM and Atlassian have evaluated the behavior of high performing teams and used that information on continuous performance management to help teams learn from better performers. These companies have build software to evaluate group goals and measure the individual’s contribution to the team and to understand team dynamics, eg ; GE has developed an app gain insight from managers and employees, including upward feedback (Sloan, et al., 2017).

Apps and software increase quality and quantity of data which will give organizations more information to make decisions such as identify high performance and decide on promotions and appropriate pay. According to Bersin, et al., (2017), such software enables organizations to;

1.       Enable goal making more transparent mobile and digital
2.       Enable easy progress monitoring
3.       Provide continuous feedback
4.       Providing instant information/ Facilitate team surveys
5.       Can use developments in Artificial intelligence
6.       Supporting career development
7.       Offering easy integration of other productivity tools
PM revolutions gathers speed as more and more organizations seek innovative ways to develop human capital.

References

Armstrong, M., 2006. Perfromance Management: Key Stratergies and Practical Guidelines. 3rd ed. london: Kogan page .
Bersin, J., McDowell, T., Rahnema, A. & Durme, Y. V., 2017. Organizations of future: Arriving now, s.l.: Deloitte University Press.
Sloan, N., Agarwal, D. & Sherman, S., 2017. Deloitte Global Human Capital Trends, Colorado: Deloitte University Press.



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