The traditional approach to performance management, consisting of a bi-annual/annual review process and the notion of employees spending endless amounts of time gathering evidence to show if they have met objectives, or not, is outdated.
In a recent report from Workhuman¹, the percentage of workers who said their company used an annual review has fallen from 82% in 2016 to 54% in 2019.
The introduction of an improved model of giving and receiving continuous, real-time feedback throughout the year isn’t a new concept. However, the model of continuous feedback lends itself well to the new era of “work from anywhere”, helping remote workers to stay engaged with their line manager and companywide objectives. It can be more challenging to monitor performance with remote workers as you have less day to day interaction and a quick view on employee performance.
Periodic review, the challenges:
- Facilitates managers to check-in less frequently with their team – workers who check-in with their manager at least weekly are five times less likely to be disengaged than those who never check-in¹
- Evidence gathered becomes out of context
- Feedback is outdated, long after a project has come to completion
- The ‘annual review’ can be daunting to employees and doesn’t facilitate natural conversation
Continuous feedback, the benefits:
- Encourages in the moment, two-way, future focused feedback
- Increased engagement between employees and line managers
- Facilitates 1:1 conversation to be centred around personal development and wellbeing
- Helps objectives to be reflective of the needs of the business and recognise ongoing change
- Collecting objective performance data through systems with real-time analysis
Case Study: HRA Pharma
DBLX have been working alongside long-standing client HRA Pharma, to achieve their mission to create a tool for developing, engaging and retaining top talent across their business as it grows. HRA utilise a bespoke development and performance system called iDevelop. Within iDevelop are five distinct components; one of which is the performance management tool iPerform.
Through iPerform, managers and employees work together to plan, monitor and review work objectives. The bespoke system built by DBLX, with a chat feature, allows the employee to have active ongoing conversations with their manager throughout the year, keeping talent engaged and development front of mind.
“I have been working with DBLX for 6 years, I have continued to go back to them for support and guidance on a multitude of projects in different roles at different companies.
Their honest, can do approach is both inspiring and refreshing. I am proud to say the projects we have worked on together, have had a lasting legacy and continue to be used and developed after I have left to take on new roles at different companies.
They can adapt their working style based on preference which for me, was very important.
I now see DBLX much more as an extended part of my team, rather than a contractor that I choose to pay.”
Adam Hodgkinson, Global Head of People Development, Talent Management & Communication at HRA Pharma
Why should you change up your performance management process?
- Employee reviews take a significant amount of time and effort from your colleagues, managers and leaders – make sure the time is invested wisely!
- They hold colleagues accountable for current performance and help shape talent for the future, both of which are critical for long-term business success
- Regular conversations about performance keep business focus relevant and ahead of time
- Pushes employees to constantly improve, engaging talent and helping businesses to be more competitive
DBLX and HRA work together continuously improving and advancing the service of iDevelop.. If you’re ready to get ahead of the curve, and shake up your performance management tools like HRA, get in touch with us today.