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The latest HR study reveals that a mere 45% of organizations report that their performance management (PM) processes effectively meet critical outcomes to a high or very high degree, including:
meeting organizational PM goals
improving employee performance
enhancing employee development
providing better legal protection
HR.com’s HR Research Institute (HRRI) has unveiled a new research report exploring the current state of PM practices, highlighting key trends and strategies for improving performance management efforts today and in the future. The research underscores the challenges many organizations face in achieving effective PM plans while also spotlighting areas where positive strides are being made.
These findings indicate that there is still much room for improvement in performance management processes across the board. However, the future of PM looks promising as organizations have shown increased efforts in key performance leadership areas over the past two years, such as:
more frequent one-on-one meetings with managers: 41%
greater employee input into performance goals: 36%
managers aligning employee goals with business objectives: 36%
In fact, investigating what’s working and what isn’t, the organizations that are better at performance management are:
over 2X more likely to have leaders who view PM as crucial for improving performance
almost 2X more likely to use digital technology for PM to a high/very high
