Reimagining Performance Management for the Future of Work - Performance Management Exchange

Meeting Highlights

i4cp's 2024 Priorities and Predictions

Katheryn Brekken, Senior Research Analyst, shared i4cp's 2024 predictions that inform how performance management leaders can prepare for the future:

1. High-performance organizations will step up HR’s involvement in AI strategy
2. Forward-looking organizations will create future-of-work leadership roles
3. Culture measures—both quantitative and qualitative—are now expected
4. Macro pressures will drive workforce divisiveness and challenge HR

Performance Management 2024 Priorities:

⚒️Skills-based performance: Organizations are shifting toward evaluating employees based on the skills they possess and contribute. 

Implementing skills councils can transform performance evaluations, emphasizing a skills-based approach as organizations grapple with diverse skill sets. The collective insights highlight the importance of identifying and developing relevant competencies, fostering scalable growth across departments, and staying ahead of evolving software capabilities. By incorporating skills into teams and leveraging external resources for skill validation, HR professionals can establish a dynamic skills foundation, ensuring adaptability and alignment with the evolving needs of the organization.

🔀Agility and work fluidity: Organizations are adopting more flexible and iterative approaches, allowing for adjustments to goals, objectives, and work assignments.

The group underscores the common challenges of overcoming silos, fostering collaboration, and identifying high-potential talent. Creating visible spaces for project scaling reflects a shared goal of moving from independent work to streamlined collaboration, ultimately enabling diverse units to achieve their goals more efficiently.

The adoption of loop surveys serves as a dynamic tool, facilitating comprehensive feedback across the organization and transcending team boundaries. This approach fosters a culture of continuous improvement by uncovering both strengths and opportunities. Addressing the HR-data paradox, there's a collective recognition of the need to balance people-centric roles with the analytical demands of data. The proposed solution involves innovative upskilling through external partnerships, using real challenges as case studies in team meetings

⚙️Technology integrations: Artificial intelligence and other technologies can streamline processes, provide real-time insights, and enhance the overall efficiency of performance management systems.

Focus on leveraging artificial intelligence and other advanced technologies to enhance performance management systems. The integration of Textio adds a unique dimension, extracting insights from feedback forms and offering valuable feedback on biases or areas requiring attention.