79 percent of executives rate performance management a high priority
90 percent of companies that have redesigned performance management see direct improvements in engagement1
1David Rock, Beth Jones, and Camille Inge, Reengineering performance management: How companies are evolving PM beyond ratings, NeuroLeadership Institute, 2015.
A large number of organizations have been struggling to get this vital cog right. The struggle is in the proper implementation of the performance management system at every stage.
The challenge is, Performance Management is treated like a tool for reviewing and rating the performance of employees at the end of the year. The core principle behind Performance management is setting a system for driving performance amongst employees for achieving business results. Right from setting Goals and assigning clear measurable KPIs at the start of the business year to the performance rating and feedback at the end of the year, the performance management works across the year and needs to be designed and executed accordingly.
Acumen’s Performance Management approach seamlessly ties up all the levers that play a role in the performance management process to achieve the results that the organization envisages from the process.