An overwhelming majority of our respondents (96%) believe that Performance Management is important for their organisation yet only 64% reported having either an effective or very effective approach. In fact, not even a third of this group reported that their approach has caused a marked improvement in employee performance, despite this being a key driver for almost 80% of respondents.
Our December 2013 survey gathered data on a wide range of topics relating to Performance Management from over 100 UK based organisations representing a wide range of industries. So what lies behind this headline? Our report reveals more about how Performance Management is actually used in organisations today. We see a striking degree of similarity in the features of Performance Management processes across organisations despite a reported wide range of drivers for having it in the first place. Furthermore, we see very little tailoring of the process to meet the diverse needs of different employee populations. Although Performance Management is widely used to identify high potentials, for example, it is not used to manage their performance any differently than the rest of the employee population.
Has ‘best practice' meant a uniformity of practice which, despite the bullish rhetoric, has made Performance Management just another box to be ticked? Is there an opportunity to revisit the process and tailor it for different segments to better meet their individual needs?