Embracing Continuous Performance Management
Here at Tugela we welcome the continued move to continuous performance management among our clients as they embrace the new functionality introduced in the recent Nautilus update of Sage Business Cloud People.
Continuous Performance functionality update
The new release consolidates key components required for performance reviews to a single place. Objectives can be reviewed and updated with all the relevant info to hand, giving a better, more informed / interactive performance review experience.
It now also facilitates continuous review type conversations that allows you to capture and manage two-way feedback on an employee's performance throughout a review period. Managers and employees can add comments, actions and goals - they can either keep it informal, or add a formal check-in process.
Factors driving the shift to Continuous Performance Management
Here are some of the main reasons the traditional yearly appraisal is being phased out:
- Managers are embracing continuous performance management they are finding that the regular one-to-ones or 'check-ins' with their staff enable them to give real-time feedback and reduce Recency Bias that could skew the annual appraisal. With these more frequent interactions they can also address performance issues and deliver recognition in a flexible, timely way. According to CEB, roughly 90 percent of HR managers believe that the traditional review process does not give an accurate picture of an employee's performance. While continuous performance management collects feedback data throughout the year so managers enjoy a more comprehensive picture of an employee's actual performance.
- Employees expectations are shifting. They not only live in an increasingly self-service world where immediate feedback is the norm but expect more in terms of career development Also, as Generation Y's preferences and motivations filter into the workplace this is set to continue.
- Technology is facilitating this shift away from the laborious annual review process. For example, the next generation of software like Sage Business Cloud People's Nautilus release is helping to make the transition easier. In part because the interface is already familiar and easy to use but mainly because it saves time and with global screens adds value for all the users in the process.
- On a broader scale, organisations recognise the benefits to their bottom line as this increased communication and interaction results in heightened employee productivity and performance, whilst also reducing employee turnover as a result.
We believe continuous performance management is an effective, cost-efficient way to boost morale and increase productivity and is here to stay as the next generation of HR software makes the process relatively painless and easy to manage. And we're pleased to see this transition being so wholeheartedly embraced by all involved in the process.
If you would like to discuss any of the points raised in this article please contact us.