Next Gen Performance Management System is touted to be the future of performance management. This stream of management is undergoing a major change with more and more businesses being shifted from yearly appraisal policies to this system. This system known as the ‘Next Generation Performance Management’ monitors and evaluated the performance of employees on an ongoing basis. As the performance management system has been about annual appraisals for decades now, many HR heads are still in doubt as to why a change in appraisal system is needed. Quercus app is a handy tool for managers in such situations of a change.
Necessity of Next gen Performance Management System and Apps Like Quercus App
- Employee Engagement
Employee engagement is becoming one of the biggest problems for the HR departments due to decreasing concentration span of employees, thanks to distractive media. In 2015, a U.S. Employee Engagement poll by Gallup Daily showed that only 32 percent U.S. employees were engaged at work. Major blogs have written innumerable articles for positive employee engagement at work. This sensitive topic remains a big issue for companies.
- Varied Cultures and Generations
From teenagers working since a young age to senior citizen continuing to work, the employee culture scenario has changed over time. With the industries growing on a large scale and employment done globally, managing multiple expectations and cultures with the employees is becoming tough for the HR.
- Slow Decisions
It is necessary that companies have a quick access to the data related to hiring, promotion and development of employees. While opting for a yearly appraisal this data gathering becomes a slow process. To provide development and success strategies to the employees, the HR department needs to create faster data collection processes.
Continuous Performance Management
Shifting from an annual performance management policy to a continuous one is surely a challenging task. But the benefits it can garner are really worth.
On one hand the annual appraisal policy uses a separate system where the Hr carries out all the processes at the end of the year. This creates an additional work load for the managers and HR department. Even more, it does not help create a big impact on the performance of your workers as they get appraisal only once in the whole year.
On the other hand, a continuous performance management policy becomes an integral part of your business. The HR can carry out this process quarterly, tri-monthly or half-yearly. You are on regular performance checks so it does not create extra work-load at the end of the year. Moreover, your workers also get a dash of motivation more than once in a year directly giving a positive impact on their performance.
Thus, opting for a continuous performance management process is a crucial aspect if you want to get the most out of your employee talent fund. Along with this, the regular performance management system can help organizations overcome various big challenges.
An Integrated Performance Management System
Reinventing the whole process of performance management is not as easy as climbing a stair. You need to make it so integrated in the daily routines that it provides the foundation for talent management, coaching and development. In 2014, a study by Brandon Hall Group found that the companies who opt for continuous performance management have a better ratio of employee retention and customer satisfaction. It also leads to better outputs in business. You can base your next gen performance management system on the below mentioned aspects –
Flexibility in Employee Goals
Every business certainly works with a goal in mind. Organizations combine the employees and necessary materials to achieve that goal. In the same way, your employees also work with a goal in mind.
When you integrate the performance management process with day to day activities, managers get clear about the progress of their workers. Also, you can co-ordinate these goals with the organizational targets. Being clear about employee and company goals gives the managers and HR a chance to discuss goal progression on a regular basis. You can revise or reframe the goals at the correct time also giving the benefit of zero time loss.
Future Focused Performance
Once you get through with the insights of past performances, focus on the present and future outputs. Your system should be such that it enables the employees to think towards the future goals and successes.
For a future focused performance, it is necessary that you boost your employees on an ongoing basis. You can focus on the projects at hand rather than analyzing all the projects at the end of the year. Follow-up and assess your employees performance after one project and motivate them for a new one. An energized start every time from your workers will enhance the results of your business outputs.
Meetings and Updates
When you shift from a traditional yearly appraisal system to the next gen performance management system, it becomes necessary to determine that how often the review meetings should be held.
Even though there is no fixed time-gap, it is advisable that managers and employees should hold meetings as regularly as possible. It is totally up to the managers and HR department to fix the time-gap according to their needs.
Some organizations also opt for a system where after regular performance evaluation they track the highlights of the entire year at the end of the year. It is noteworthy that regular meetings and assessments also help build the trust and engagement between the workers and managers positively. It also gives a reason to celebrate various milestones, target achievements, and successes, be it small or huge.
You can also motivate your employees by creating team leaders, keeping in touch with them, nurturing healthy manager-employee relationships and by making everyone believe that they are a part of one big united company.
Next Gen Performance Management with the help of QuercusApp
The most important aspect of a successful next gen performance management system is its process. Create a smooth process by implementing a system which will allow you to inter-connect your management systems, database, and employee progress charts. It will also help you to gain clarity on the progress at both, individual and organizational levels.
One of the best ways to create a smooth next gen performance management system is with the help of QuercusApp.
What is QuercusApp?
It is a cloud based application enabling real time feedback among employees all the year round. Its helps collect feedback from employees in real time from any location. The app also tracks the performances of employees and improves their effectiveness, not just once a year but every day.
QuercusApp reinvents the system of performance reviews helping you adopt next gen performance system effectively. It serves as an efficient process enhancing the success of business by proper collaboration and coaching. It also gives your workers a clear idea of where they stand and how to improve their performance by giving them real-time feedback. Your workers remain continuously aligned with your goals driving your organization towards success and greater heights.
Concluding Highlights of QuercusApp
QuercusApp is a powerful tool that you can use for next gen performance management in your organization. Below listed are some of the major benefits it delivers-
- Develops leaders effectively
- Identifies skill gaps
- Builds on your strengths
- Focuses on relevant competencies
- Relieves your managers
- Gives real-time feedback
- Collects 360-degree feedback
- Keeps all your data safe
During the phase where organizations are adopting the next gen performance management system, QuercusApp can prove to be a major benefitting tool for practicing this system.