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Room for improvement on performance management programmes

Sep 23
 
Tags: Mercer
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Room for improvement on performance management...

Although an understanding of the importance of talent being key in order to gain a competitive advantage, many organisations are still finding the setting up of an effective performance management programme to be a challenge.

That is the finding of Mercer's Performance Management Survey, which found that only three per cent of global organisations claim that their overall performance management system offers them exceptional value.

The survey included the responses from performance management leaders at over 1,050 organisations within a wide range of industries across 53 countries, each varying in size from those with fewer than 1,000 employees to firms with over 10,000.

As well as common factors in many performance management programs, such as the setting up of employee goals and conducting formal end-of-year reviews, Mercer also managed to identify a number of other key drivers of successful performance management. These include manager skills, executive commitment calibration and technology.

According to the findings, roughly one in three organisations around the world say that improving a manager's ability to have candid dialogue with their employees would have the greatest potential for having an impact on the overall performance of a company.

However, it is not just the performance of managers that is seen as important, as the survey also found that organisations with a higher levels of executive commitment were more likely to have effective programmes for performance management, while another two drivers are calibration and technology.  

Another interesting finding of the survey was the fact that there does not appear to any one country that can claim to be a global leader in the implementation of such programmes.

Mercer's senior partner Colleen O'Neill said today's business and economic environment can be challenging for many companies, which often struggle to achieve important outcomes such as focusing on employees and helping them reach higher levels of performance.

"Even though there is a lot of talk about workforce segmentation and innovative performance management practices, few effectively support dynamic performance and career development processes, and a minority of companies has made revisions to their practices in the last few years," she continued.

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