The past few years have been a difficult journey for most organizations. To manage, orgs have had to dramatically change their practices, especially when it comes to performance management. While we heard from leaders and read articles about how different companies are approaching performance management in 2021, we wanted to understand in-depth how performance management is evolving in current times, and specifically how is it different from 2019 in terms of philosophies, practices, and approaches.
Our latest study compares our fall 2019, fall 2020, and new fall 2021 data on performance management practices. We also conducted a literature review of more than 60 articles, a roundtable discussion with over 25 leaders, and a quantitative survey of 621 HR leaders and employees and conducted over the summer and fall of 2021.
As you will read in the report, there are some very exciting changes happening in orgs, such as:
- Employees having a much clearer understanding of their goals and expectations
- More frequent conversations between employees and managers
- Increased transparency in terms of compensation and feedback
Yet, there are some real concerns, too. For example, managers’ openness to new information and providing employees with autonomy have both declined since the fall of 2020. Further, less than half of employees indicated that the performance assessment process is consistent and fair.
Clearly, there’s still a lot of work to be done on improving performance management and we hope this report will help you more quickly identify areas of needed focus.