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Performance Management

Performance Management

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Performance Management

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  1. Performance Management

  2. One of the largest global longitudinal Human Capital surveys on record with over 10,400 respondents across 140 countries Organization size (employees) Respondent job level Respondent job function DeloitteUniversityPress|

  3. Underlying concept to the trends This year’s theme is Rewriting the rules for the digital agebecause we are not merely dealing with change but change at an accelerated pace encompassing society and demographics Technology Individuals Businesses Rate of change Public policy HR’s opportunity is help close the gap among technology, individuals, businesses, and society and governments 1970s Today 1990s 2000s 2010s 1980s

  4. An overview of the 2017 Deloitte Global Human Capital Trends The organization of the future is arriving now • The Future of HR • The Future of Work • Invent the future through the augmented workforce • Disrupt leadership by pushing the boundaries • Cultivatethe employee experiencethrough culture, engagement & beyond • The Future of the Workforce • Create a more diverse & inclusive workforce to close the reality gap • Evolve the careerjourneyso that it’s real time, all the time • Constantly manage and developperformanceto play a winning hand • Embrace digital by combining platforms, people and work • Recalculate the route for peopleanalytics • Tackle the talent issue at the source through the cognitive recruiter

  5. Ranking of 2017 trends by importance - NZ Organisation of the future Employee experience Leadership Careers and learning Performance management Diversity and inclusion Talent acquisition People analytics Digital HR The augmented workforce Robotics, cognitive computing, and AI Percentage of total responses Note: Ratings for “The augmented workforce” and “Robotics, cognitive computing, and AI” both relate to the broader trends on “The future of work” discussed in this report.

  6. Performance management:Play a winning hand 78% Very important or important Organisationshave radically changed the way they measure, evaluate, and recogniseemployee performance 65% integrate performance ratings with compensation and rewards decisions NZ Ranking Global Ranking 42%are focused on continuous performance improvement and coaching 50% of organisations rate their current performance management system as excellent or good 71% review promotion annually

  7. Performance management: Play a winning hand Lessons from the Front Line What can organisations do? “ “ The focus has shifted from talking about people to talking withpeople in open conversations Approach GE removed ratings, adopted ongoing touchpoints and collected horizontal and vertical feedback. It focused on performance management rather than appraisal. It developed an app to gain insights from employees and managers at all levels. Identify a strategy and philosophy for performance management 1. Look to peers in your industry or region that face comparable challenges and opportunities 2. Results This firm found that new practices empower local leaders, create better relationships among teams and help teams work more closely together. There was an improvement in employee engagement and faster time to market and speed of innovation. Tailor to strategic and organisational needs especially when it comes to adjusting the speed of change 3. Upskill managers in coaching skills 4. Look more holistically how the changes influence rewards, promotion and succession processes 5.