In the future of work, performance management will need to adapt in order to keep up with the changing workforce. With so many developments happening, such as the increase in contract and freelance work, traditional methods of performance management may no longer be effective. Performance management needs to change.
Annual reviews and goal setting may not be the best ways to measure and manage employee performance in a more fluid workforce. In order to be successful, companies will need to find new ways to assess and improve employee performance. The traditional performance management system is based on an annual review cycle. Employees are usually given a rating on a scale of one to five, with five being the highest. They are also given written feedback from their managers.
However, this system has been criticized for being too subjective and ineffective at measuring employee performance. In a more fluid workforce, this system may no longer be feasible.
Alternative Methods of Performance Management for a Changing Workforce
Performance management will need to adapt in order to keep up with the changing workforce. One way that business and HR leaders can do this is by practicing alternative methods of performance management. Some of these alternative methods include:
- Continuous feedback instead of, or in addition to, annual reviews.
- Goals that are set in collaboration with employees, rather than unilaterally.
- Feedback that is given more frequently, rather than infrequently.
- Development plans that are created with input from employees.
- Opportunities for employees to give feedback to their managers.
If you’re looking for a more flexible and adaptable performance management system, consider implementing some of these alternative methods. They may be practical and efficient in remote and hybrid work environments.
Change Your Performance Management to Focus on the Future of Work
As the workforce continues to change, traditional methods of performance management may no longer be effective. Alternative methods, such as continuous feedback, goals set in collaboration with employees, and more frequent feedback, may be more suitable for a changing workforce.