Renewed Focus on Performance Management
While the application of Artificial Intelligence (AI) in almost all fronts of our lives is the common conversational theme now a days, interestingly, the industry board rooms are sharing the AI buzz with an equally important management theme – that of a renewed focus on employee performance management – across industries and across geographies.
Listening to the CEOs, CXOs and HR Managers in the region, we believe the renewed focus is a result of many factors including the perceived (and in many cases claimed/observed) post-covid productivity concern as employees return to work.
In addition, the business landscape has changed significantly in the last three years as a result of a) covid induced newer business/operating practices, b) information technology advancements and c) the overall enhanced speed of business and global connectivity.
All these, unsurprisingly, warrant a close re-look into the way businesses operate and perform on a day-to-day basis.
Some of the questions bothering the CEOs and CXOs being:
- Are we optimally configured from a business process point of view ?;
- Are we at the risk of loosing competitive advantage on account of non-adaption of new technologies ? ;
- Are our employees engaged or we are operating at lower productivity levels ? ;
- Does our performance management process support business excellence and does it help us identify good performers versus poor performers in a timely way….
As we partner with our regional clients assisting them answer some of these questions and in their quest to set-up a more effective Performance Management system, we are uncovering interesting facets of post-covid employee, employer, performance and job-market paradigms.
In conclusion, the CHROs prioritising Performance Management are clearly ahead of the curve. Others need to re-visit their 2024 agenda, as Performance Management at the workplace certainly needs a review if not a total re-start post-covid.
