HIGHLIGHTS FROM THE RESEARCH:
Over the years, performance management practices have tended to evolve from highly subjective conversations led by employees' managers (and the use of paper-based review forms) to more sophisticated systems that may include components such as key competencies, performance targets, self-appraisals,360 reviews, and more. Traditionally, the review process had occurred on an annual or biannual basis. More recently, some experts have begun advocating for a more frequent review and feedback process.
Getting employees to correctly use any system—whether it's technology-based or not—can be a difficult process. So, what factors motivate employees to use a PM software? About one-third (34%) of participants say employees are most motivated by linking the PM software to career trajectory and promotions. However, some cite other factors, with about one quarter indicating that employees will use the software when other managers and leaders use it (25%). Similarly, others said employees will use it when it is tied to bonuses and rewards (24%).
Continuous performance management (CPM) is defined as performance management that occurs on an ongoing basis rather than just once or twice a year. It includes processes such as as-needed goal setting, regular check-ins with managers and real-time feedback. Of the two-thirds who responded that they are not currently using a CPM system, only 15% plan to implement one. Interestingly, though, about half say they are exploring the idea. This suggests that, because the concept of CPM is relatively new, some practitioners are still unfamiliar with it or trying to figure out if (and how) it will improve employee performance.
However, the majority of respondents (89%) think continuous performance management is superior to the annual or bi-annual review process. Some experts argue that by using CPM, employees will get more growth-oriented feedback about goals and, as a result, will be more likely to achieve those goals.
To learn more about Continuous Performance Management and to get 8 key takeaways from the survey and research, please read the report here:
