2. TABLE OF CONTENTS
What is Performance Management ?
Eight Key Trends In Performance Management.
Five Emerging Performance Management Trends.
Big Impact of New Performance Management Trends.
Five Core Areas are of Deloitte’s Approach to Performance Management.
The Performance Management Cycle.
3. WHAT IS PERFORMANCE
MANAGEMENT ?
Performance management is the activity and set of
processes that aim to maintain and improve
employee performance in line with an organization's
objectives.
It's strategic as well as operational, as its aim is
to ensure that employees contribute positively to
business objectives.
4. EIGHT KEY TRENDS IN
PERFORMANCE MANAGEMENT
Performance management will evolve – not disappear
Closer link to corporate culture and values
Different approaches for different parts of the workforce
Abandon the performance rating
Separate performance from reward
Continuous feedback
Technology to enable, rather than record
Enable managers to become leaders
5. FIVE EMERGING PERFORMANCE
MANAGEMENT TRENDS
Attention will move from quantity to quality of conversations and
feedback.
Performance management systems will strive toward ‘simple’.
Companies will change the way they manage performance-related
pay and bonuses.
The focus of performance management data will shift from
completion rates to manager impact.
Businesses will opt for continuous performance management
software over appraisal software.
6. BIG IMPACT OF NEW PERFORMANCE
MANAGEMENT TRENDS
Changing the focus
Goals that work
Simplifying the system
An ongoing process
7. THE PERFORMANCE MANAGEMENT
CYCLE
A. Performance Planning
The planning stage provides an opportunity for one-on-one goal setting
between the supervisor and employee based on work unit objectives that
are aligned with organizational goals.
B. Ongoing Monitoring
Performance management should be a dynamic process. Progress on
objectives must be monitored with continual appropriate feedback and
discussion throughout the year.
C. Evaluating Performance
The process of evaluating performance is a collaborative effort. Employees
review their accomplishments from their perspective through a self-
assessment process using a performance assessment tool.
8. ELI LILY IS REDEFINING
PERFORMANCE MANAGEMENT
Eli Lilly, a Fortune 100 company that ranks as the ninth largest-
grossing pharmaceutical company in the world, revealed some of its
best practices for transforming performance management at the
NeuroLeadership Institute’s annual summit.
Eli Lilly has long been progressive in implementing unique HR best
practices and benefits, including job sharing and family assistance
perks. In redesigning its performance management process, company
leaders tried to adhere to the theme of “trust.” The new process is
meant to empower employees to take more initiative and voice their
ideas. Eli Lilly says that’s helping strengthen partnerships between
supervisors and employees.
