Has performance management really changed that much since World War I? I would have to say Yes, but not because of the new fads making headlines. The companies and leaders that have successfully led people towards a shared purpose will beg to differ perhaps. And I would understand their difference in opinion – the three pillars of successfully leading people have not changed. But the systems supporting these pillars have.
Visible: after implementing numerous HR Technology systems over the past decade, unfortunately most companies still fail to make visible their strategy and what they expect from their people to execute it. This is disappointing given most employees seek ‘purpose’ in everything they do. Without knowing how their role fits within the big plan, employees are highly unlikely to support the organisation (and their own) success. A common failure in making strategy visible is focusing purely on individual objectives. Most HR systems have functionality to cascade objectives, but PeopleStreme goes beyond this, it allows companies to upload their strategy and present it to their employees while they are writing their own objectives. This gives employees a birds-eye view of where the company is headed and how they are contributing to get there. In addition to this, PeopleStreme’s Strategy Dashboard gives insight into the number of people aligned to the strategic objectives of the organisation.
Accountable: SMART Goals: this is no secret, in fact, not much has changed since 1981. Most employees and leaders still fail to write SMART objectives. While most performance management frameworks refer to writing objectives in this style, it is disappointing to see the quality of objectives still lacking. Without SMART goals, it is likely that measuring performance and success will be challenging and prone to biases. More importantly, it creates a lack of accountability. It is great to see though that systems like PeopleStreme cater for this exactly with their Verb Quantity Time and Quality (VQTQ) method. The system has an inbuilt framework to guide employees who struggle with writing SMART goals. In addition to that, every development plan provides the employee and manager with the ability to select learning activities based on the 70/20/10 model. This way, when managers and employees catch up, they can discuss areas of improvement and quickly note feedback in the system using the inbuilt feedback writer.
Sustainable: say goodbye to companies that only focus on succession planning, and welcome to the new wave of companies that actively pursue retention. While succession planning is important and part of the Talent Management module that PeopleStreme offer, their research into flight risk and its management really stands-out. After all, the sustainable way to run an organisation is to deep dive into the existing pool of talent and develop them to meet the needs of the future.
The talent management modules of most systems stop at capturing the career aspirations of employees and matching or adding them as successors to roles. But PeopleStreme goes well beyond this. In fact, their joint research with multiple parties (including universities, the Performance Management Institute, etc.) looks at unique criteria to identify your employees’ flight risk. Coupled with their engagement assessments and employee engagement survey tool, it is easy to identify how the employees are feeling and whether they would like to stay.