For several decades, performance management has been an event held in meeting rooms or boardrooms. However, after the outbreak of the global pandemic, the majority of businesses across India have shifted their office to their homes. This shift has led to many other transformations in the corporate world. One of the most important changes has to be people leaving behind outdated tools and relying on automated solutions. People were able to carry out their routine processes, improve employee performance, etc using HR technology. One thing is for sure, this pandemic has taught us that we can work from anywhere using the right tools. This is when a big question arises- how many companies invest time looking at their performance management process with a fresh lens?
Over the past year, we all have witnessed a sudden transformation of human behavior in embracing new methods of working and communicating. Although everyone is getting vaccinated, several companies are still considering the people first strategy and continuing working remotely. In such a scenario, the need for personalization has crept into our lives to simplify our needs. Amid all these changes, one thing that is still the same is the way we are evaluating our employees.
In this blog, we will tell you four different ways how performance evaluation needs to change for companies to stay relevant in the coming times:
Culture of Belief
Truth be told, the old school hierarchy of in-person collaborations is mostly a thing of the past. Of late, a number of surveys have stated that the efficiency has improved after shifting to the WFH model. That being said, the first thing every company needs to do is forget traditional performance management. Instead, businesses should start evaluating employee performance on their outcomes over other factors of time and initiatives. Remember, the adoption of a “trust” based culture can not just go a long way but also boost loyalty to a greater extent.
Empathize
One of the good things that happened during this pandemic is that companies have started considering the emotions of their employees and are supporting them like never before. Likewise, the human element has come to the forefront of leaders as well as managers understanding their team member’s diverse requirements.
Managers should understand that it is difficult to move a traditional workday into blending personal as well as professional needs. Employees require support from every dimension. Some studies have stated that mental well-being is the need of the hour, and a company that prioritizes and promotes this will stand out to its employees.
Feedback
The third thing that every company should do is leaving manager-driven performance culture away. Rather, people should consider team or peer-based feedback. Unlike before, the ability to work in a collaborative environment to acquire goals is the need of the hour. Employees should be allowed to come together and collaborate to fulfill the shared goals and objectives. The process of giving and receiving feedback needs to be changed. It is high time for companies to know the benefits of the peer evaluation process and corporate it into their employee performance management system.
Frequency
For those who do not know, the frequency of performance evaluation and feedback is a vital factor. While some do it once a year, others do it on a quarterly basis. To get the most out of this process and bring out the best in employees, companies should consider a continuous performance evaluation. This will help employees to learn from their mistakes and improve more quickly. Managers, on the other hand, will also find it easy to evaluate their employees.
That’s it. So, we have come to the conclusion that pivoting to an agile, informal, and peer-based model will not just be a bold but necessary step in the coming time. Therefore, keep the aforementioned four points in mind while carrying out your performance management process. We hope this blog helps your company to stay ahead of the curve in 2021 and beyond.
Also Read: Elements to keep in mind while reviewing employee performance