Change is underway
In recent years, companies have been on a mission to explore and implement best, simplest and effective mechanism to create a high performance environment. Process for employee driven feedback has been emphasised if the Millennials are concerned as Millennials are quickly becoming the most influential population in the job market.
Millennials want straight forward feedback. Creating a continuous feedback mechanism for the start up with continuously changing priorities is quite challenging. Having said that, here are the 5 trends which are going to be very critical to manage talent and performance in 2016:
1. Growth:
Having more millennials in the system demands you to think and act like them. They are more critical thinkers and embrace an entrepreneurial mindset. So they look for advanced and challenging opportunities. They would not stick around if you try to stop or bind them. Instead, if they feel you have invested in their growth, they likely to keep strong relationship not only with company but people in it.
Combining it with performance reviews, Millennials want straight forward feedback. So the process which might not include year end ratings but across the board, they tend to focus more on agile goal setting, continuous improvement, regular feedback, coaching and development.
2. Environment:
Creating and sustaining an environment where employees feel supported and valued by leadership is critical to have today. Which means relationships statistics of employee and employer must grow beyond just formal annual work reviews. Having said that all cannot be treated alike as not all are star performers, strong employee - employer relationship is the key as they don't want to work for you, they want to work with you.
The biggest issue with the annual performance review is the emphasis on the overall delivery than on the focus to look on the opportunities to have continuous learning and improvement.
And as HR plays a critical role in rolling out the review forms, rating mechanism, instead have should shift the focus from this outdated model to more towards helping the managers to coach their teams to succeed. This emphasis shift assures the required transformation in the overall performance management approach.
3. Engagement and Alignment:
Bringing right talent, right strategies, practices and goals altogether assures the organisation's success. Irrespective the industry, the success of the organisation rely on the agility it has in terms of the defined processes, practices, strategies and goals along with ensuring the agility while growing fast.
Here comes the question. How the people in the organisation are aligned with all those processes, practices, strategies and goals? When people understand the goals and directions their company is taking, they are more inclined towards achieving their goals.
Now there are two parts of this arrangement. First part, we need people, people to contribute some sets of goals, goals which are critical to organisation's success. And the success which acknowledges the hard work of the people. Now these employees are also expected to understand as to how their individual contribution in form of their job responsibilities is going to contribute towards the success of overall organisation's goal accomplishments.
And the second part which is largely ignored. Let's talk about the team, department and organisation dynamics in terms of goal alignment. An individual must be given the transparency of team goal, the impact it is going to have on department's goal and the overall organisation's goal.
But that doesn't mean that you create a wall of goals for them to be confined and perform as they would not like to be confined and limited. They like flexibility as much as they do like the directions. The aspirations give them motivation whereas their daily work lives may become cynical which may result into poor performance.
Bringing right talent, right strategies, practices and goals altogether assures the organisation's success. Irrespective the industry, the success of the organisation rely on the agility it has in terms of the defined processes, practices, strategies and goals along with ensuring the agility while growing fast.
Here comes the question. How the people in the organisation are aligned with all those processes, practices, strategies and goals? When people understand the goals and directions their company is taking, they are more inclined towards achieving their goals.
Now there are two parts of this arrangement. First part, we need people, people to contribute some sets of goals, goals which are critical to organisation's success. And the success which acknowledges the hard work of the people. Now these employees are also expected to understand as to how their individual contribution in form of their job responsibilities is going to contribute towards the success of overall organisation's goal accomplishments.
And the second part which is largely ignored. Let's talk about the team, department and organisation dynamics in terms of goal alignment. An individual must be given the transparency of team goal, the impact it is going to have on department's goal and the overall organisation's goal.
But that doesn't mean that you create a wall of goals for them to be confined and perform as they would not like to be confined and limited. They like flexibility as much as they do like the directions. The aspirations give them motivation whereas their daily work lives may become cynical which may result into poor performance.
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