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5 Essentials to Modern Performance Management

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The way we work today has changed. When it comes to modernizing the performance management process in an organization, annual reviews and competencies don’t cut it anymore. Focusing on informal performance check-ins is a start, but it’s not enough.

In this presentation, we discuss how you can make a strategic shift in your performance management program with the 5 essential elements to creating a high-performance culture.

Gain insights into:
• Why—and how—organizations that engage in strategic performance management outperform their competitors
• Best practices for implementing performance processes that align, engage and inspire your people
• And how it all integrates into your talent management framework

As performance management continues to evolve from an isolated HR-driven process to an intrinsic part of everyday business rhythms, discover why you should emphasize increased engagement through employee satisfaction and contribution.

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5 Essentials to Modern Performance Management

  1. 1. 5 ESSENTIALS TO MODERN PERFORMANCE MANAGEMENT @SabaSoftware
  2. 2. Hawley Kane Head of Organizational Talent & Leadership Development, Saba Software TODAY’S SPEAKERS Taylor Vaughan Solution Consultant Saba Software © 2017 Saba Software, Inc.
  3. 3. AGENDA What we’ll cover in today’s webinar: The 5 Essentials to Modern Performance Management 1. Goals 2. Feedback and Recognition 3. Development 4. Performance Check-ins 5. Managers and how to Transition from Old to New!
  4. 4. WHAT IS THE PROBLEM? Only 8% believe their PM process is WORTH THE TIME Over 70% want to REDESIGN and simplify the process Top 2 CEO concerns are RETENTION and ENGAGEMENT 4Sources: Bersin by Deloitte 2015, Gallup 2014, DDI leadership Forecast 2014/2015, Brandon Hall 2015 Companies are struggling to make their overly complex performance management process simpler, more coaching-oriented, and more focused on development
  5. 5. THE EVER CHANGING WORKPLACE Every aspect of an employee’s work life is experiencing profound change Ineffective collaboration - leading to burnout of “extra-milers” Growing use of contingent workforces Dealing with multiple generations, cultures, geographies Insufficient access to data to make talent decisions
  6. 6. Annual Fixed Centralized Assumption based Backward looking Rating focused Remediation THE EVOLUTION OF PERFORMANCE MANAGEMENT Ongoing Agile Local Data driven Forward looking Development focused Continuous improvement 6
  7. 7. DRIVING BUSINESS OUTCOMES INCREASED ENGAGEMENT INCREASED PRODUCTIVITY IMPROVED BUSINESS OUTCOMES SATISFACTION CONTRIBUTION
  8. 8. CHANGES IN CONTROL HR SENIOR LEADERS MANAGERS INDIVIDUALS TEAMS Change or decrease in historical approach to performance documentation Decrease in perceived control over goals resulting from reduction of cascaded goals Increase in managers' latitude to give continuous feedback based on their own and others' perspectives Increase in responsibility for performance, ranging from setting goals to appropriately accepting and responding to feedback, to bringing in manager / coach as appropriate to help respond to feedback Increase in team members' responsibilities to identify teams' goals, connect their own to them, and stay in sync with them throughout the year Decrease in formalization of performance review process Decrease in control over feedback provided to employees (in the form of ratings) Increase in expectation of managers' skills / capabilities as coaches; decrease in managers' command-and-control role Increase in responsibility for maintaining alignment throughout the year with overall company goals, team goals, and colleagues' goals Increase in necessity to identify team members, team objectives, and individual roles and responsibilities Decrease in extent to which HR has insight into where managers / employees are in the process (e.g., number of 1:1s, appraisal completion rates) Change in types of performance management data (e.g., decrease in data on evaluation completion rates, but potentially increases in other types / frequencies of data) Decrease in managers' responsibilities as ultimate accountability driver, and increase in responsibility as coach and leader Increase in responsibility to give feedback (positive and constructive) that helps colleagues / teammates improve their performance Increase in importance of team work to individuals' performance evaluations 8Source: Bersin, Deloitte Consulting LLP, 2017.
  9. 9. WHAT IS PERFORMANCE MANAGEMENT? An ongoing process intended to improve the performance of people in an organization. Performance Check-ins 4. 9 Feedback & Recognition 2. Managers5. Development 3. Goals1.
  10. 10. GOALS 1
  11. 11. 11Source: HCI | The Corporate Strategy Board | IDC | Brandon Hall Less than 50% of employees KNOW WHAT IS EXPECTED of them at work. MISALIGNMENT The average employee is spending HALF OF THEIR TIME on non-productive work. WASTED PRODUCTIVITY Employees that don’t fully understand their job costs companies $37 BILLION. HIGHER COSTS
  12. 12. Provides Focus Increases Motivation Improves Employee Engagement Increases Productivity Lower Costs STRATEGY EXECUTION IMPACT OF GOAL ALIGNMENT
  13. 13. KEEP PEOPLE ACCOUNTABLE AWARENESS
  14. 14. FEEDBACK & RECONGITION 2
  15. 15. 15 70% of employees state that they are recognized once per year or not at all. 70% YET… FEEDBACK HELPS EMPLOYEES GROW AND FEEL VALUED Source: Gallup
  16. 16. 16 THE IMPACT OF FEEDBACK Source: Feedback Is The Killer App: A New Market and Management Model Emerges: Forbes (Josh Bersin) Original data by Workboard ENGAGED EMPLOYEES DISENGAGED EMPLOYEES RECEIVE NO FEEDBACK RECEIVE STRENGTH- BASED FEEDBACK RECEIVE CONSTRUCTIVE FEEDBACK
  17. 17. The number one reason feedback falls off the radar – we’re too busy
  18. 18. HOW TO PROVIDE EFFECTIVE FEEDBACK Explain to your colleague exactly which behavior or action was observed and when it happened – the key here it to be specific. Communicate the impact the behavior or action had on the business/team and why the behavior did or did not support success. Collaborate to determine the best course of action to reinforce or remedy the behavior or actions taken. OBSERVATION IMPACT ACTION
  19. 19. DEVELOPMENT 3
  20. 20. TODAY AND TOMORROW… Building the capabilities of people who are meeting or exceeding job expectations… to ensure success in their current role and to prepare them for future opportunities.
  21. 21. 21 62% lower turnover rate among high performers. LOWER TURNOVER 64% of employees would like more focus on development EMPLOYEE SATISFACTION 2X the median revenue HIGHER REVENUE 2x 64% Source: Bersin by Deloitte THE VALUE OF LEARNING & DEVELOPMENT
  22. 22. ONLY 37% of leaders rated the quality of their organization’s development programs as HIGH or VERY HIGH. DID YOU KNOW? Source: Global Leadership Forecast (DDI) 2014 Survey
  23. 23. CHALLENGES FACING THE LEARNING TEAM 30% 70% 32% 80% © 2017 Saba Software, Inc. 23 HOW DO YOU REACH THEM? HOW DO YOU SUPPORT THIS? of employees work somewhere other than an office of employees are more likely to seek information via search engine vs. 50% in a course HOW DO YOU EMPOWER THEM? of employees report growth opportunities at work HOW DO YOU LEVERAGE THIS? of learning happens in on- the-job interactions
  24. 24. DEVELOPMENT Only 20% of today’s workforce has the skills needed for 60% of the jobs in the next 5 to 10 years © 2017 Saba Software, Inc. 24 Personalize development – WiiFM is just as important as what is in it for the organization
  25. 25. LEARNING DRIVES PERFORMANCE AND GOAL ACHIEVEMENT 25 PERSONAL GOALS/NEEDS Would like to develop skills to resolve higher-level issues. ORGANIZATION GOALS/NEEDS New strategic initiative to build customer loyalty. GROUP GOALS/NEEDS The customer service department’s goal is to increase customer retention by 2% this year.
  26. 26. HOW WE LEARN 10% 90% FORMAL LEARNING EXPERIENCE & EXPOSURE • Online training • Instructor-led sessions • Assessments • Feedback • Observation • Shared experiences • Job shadowing | rotation • Mentoring • Coaching • Networking • New job assignments • Cross-functional assignments • Stretch assignments • Professional groups • Books • Blogs • Wikis • Seminars or conferences • Webinars • Podcasts • Mobile apps • Communities of practice • MOOCs
  27. 27. Development plans are the intersection between many talent management disciplines Bersin by Deloitte, 2012 Performance Management Leadership Development Succession Management Career Management Learning CONNECTION TO TALENT MANAGEMENT INDIVIDUAL DEVELOPMENT PLAN
  28. 28. PERFORMANCE CHECK-INS 4
  29. 29. EMPLOYEES MANAGERS GOALS Help me stay focused and aligned Insight into progress and challenges COACHING What’s going well and where can I have a greater impact Offer real-time feedback for positive outcomes DEVELOPMENT Talk about my career growth Helping employees reach their full potential RECOGNITION My success is celebrated and I feel valued Celebrate success to inspire and motivate WHAT IS IN IT FOR MANAGERS AND EMPLOYEES? © 2017 Saba Software, Inc. 29
  30. 30. MANAGERS 5
  31. 31. 31 HALF OF EMPLOYEES have left their job to get away from their manager at some point in their career. Employees whose managers hold regular meetings with them are almost 3X AS LIKELY TO BE ENGAGED. MANAGERS ACCOUNT FOR AT LEAST 70% of variance in employee engagement scores. 3x 70% Source: State the American Workplace – Gallup
  32. 32. HOW TO TRANSITION FROM OLD TO NEW
  33. 33. FIVE STEPS TO CHANGE UNDERSTAND if you are culturally ready to make this shift COMMUNICATE the value to employees and leaders – what’s in it for them? ALIGN implementation to strategic priorities and set realistic milestones PROVIDE TRAINING – a critical component SOLICIT FEEDBACK to refine the process
  34. 34. PERFORMANCE needs to be “part of” your unique business rhythm and the heart of your talent strategy!
  35. 35. LEARN MORE DOWNLOAD THE FEEDBACK TOOLKIT bit.ly/feedback-toolkit
  36. 36. THANK YOU

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