An exclusive new report released by HR.com found that while nearly 90% of HR professionals agree that a Continuous Performance Management process is superior to an annual or bi-annual review process, only a fraction of organizations are practicing it.
The report, Moving Towards Continuous Performance Management, is based on an industry survey conducted by HR.com in partnership with the enterprise software company Betterworks. The survey gathered responses from 512 HR professionals.
“Performance management has been failing for a long time,” said Debbie McGrath, Chief Instigator and CEO of HR.com. “Now most HR professionals think that one way to improve it is to make it more continuous. But that doesn’t mean most organizations have actually adopted such systems. There’s still a big disparity between belief and action.”
In fact, only about a third of respondents (32%) say their organizations use Continuous Performance Management.
“Today’s business leaders and their HR teams are challenged to inspire their workforce to higher performance, identify and retain their top talent and build their leadership pipeline in order to maintain competitive advantage,” said Doug Dennerline, CEO of Betterworks. “the research conducted by HR.com clearly demonstrates that adopting Continuous Performance Management is a critical part of the solution.”
One potential component of Continuous Performance Management is an employee recognition system. About 60% of participants say their organizations use recognition systems. Those who are pleased with the effectiveness of their better performance management processes are more likely than others to have a recognition program in place.
The study also suggests that performance management is in flux, and that HR pros are actively hunting for technological solutions to help them improve the process. Half of respondents intend to revamp their performance management process over the next two years, while fully 68% said they would prefer to work with a “technology system” that helps remove bias from the performance reviews management process.
Betterworks (R) is HR software to align, develop and activate your workforce for business growth. Organizations are able to replace outdated, ineffective, universally loathed annual review processes with powerful continuous performance management programs that help managers be better at the conversations, coaching and development necessary to inspire and motivate the entire workforce to meet today’s goals and be ready for tomorrow’s challenges. Learn more at betterworks.com
HR.com strives to help create inspired workforces by making HR professionals smarter. Over 1,100,000 HR professionals turn to HR.com as the trusted resource for education, career development, and compliance: thousands of lessons and tips in the HR Genius on-demand training library, 400+ webcasts yearly, the largest HR certification exam preparation practice supporting SHRM and HRCI certification, a legal compliance guidance program, 12 monthly themed interactive HR epublications, and 45+ primary research reports. HR.com offers the best training and networking for HR professionals globally 24/7/365. www.HR.com
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Chief Instigator and CEO, HR.com