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Reinventing Performance Management Techniques during COVID-19
Developing complicacies in business functions have direct to the appearance of new and comprehensive ideas in the management of business. Covid-19 outbreak has also proved to be one of the big game changer and a disruptor all over the world economy. As the function of HR all over the companies revisits concerns to jump out of the present crisis, it will require for making sure a robust system of performance management ready, which administers and assesses employee performance in a work from home and virtual working settings successfully. However, it is the time to define what author stated about performance management. According to Aguinis (2009), performance management is a notion in the domain of HRM. It is a consistent method of recognizing, assessing and developing the individuals’ performance and lining up performance with the strategic organisational goals. Performance management is often mistaken as performance appraisal however the latter is only an element of the former.
Many experts have explained the notion in their own techniques and hence there are many universally accepted model of performance management. There are essential five components which recommend how system of performance management should be applied in a company and these include: objectives setting, performance measurement, performance output feedback, reward system on the basis of performance outcomes, and adjustments to objectives as well as activities.
According to the present situation, i.e. during Covid-19 outbreak, work from home has become mandatory and it is quite not possible to monitor individual employees physically but the leaders or the HR managers should be adaptive in nature because uncertain business environment can bring in any kind of situation before them and hence they should be flexible enough to adjust in any type of models of performance management. Salaman, Storey and Billsberry (2005) asserted that there are generally two theories that underlying the concept: goal setting theory and expectancy theory.
The former theory of performance management has been suggested by Edwin Locke in 1968 and this theory recommends that goals of an individual set by a worker act an essential role in inspiring him for better performance (Van der Hoek, Groeneveld and Kuipers, 2018). It is due to the workers keep maintaining their goals and if such goals are not obtained then they either enhance their performance or adapt the goals and make them more pragmatic. In case the performance enhances it will cause gaining of aims of performance management system.
The latter theory has been introduced by Victor Vroom in the year 1964 and this theory is on the basis of hypothesis that people alter their behavior in the company based on the anticipated satisfaction of valued goals place by them (Barba-Sánchez and Atienza-Sahuquillo, 2017). People change their behavior in such a process which is majorly possible to direct them to achieve these goals and this theory inspires the notion of performance management as it is considered that performance is affected by the prospect concerning imminent events.The system of performance management will help to make sure of productivity in a remote workplace.
Apart from this current pandemic situation, a case study of Deloitte will help us to answer the following question: Why and how a company can reinvent their performance management? Deloitte is the biggest professional services network in the globe as per revenue and number of experts. During 2013 to 2014, they achieved $34.2 bn USD in revenue which is a record. Thus if such a big company in the globe takes on evolving their performance management then they execute it with a bang.
Deloitte explored that their present approach to PM annual 360 feedback was desecrating a shocking two million hours each year. Even more considerable, they recognized that their system was not involving workers at all. The levels of performance were declining severely. In a stress to combat this, the company developed something more nimble, real time and personalized. They desired something that was concentrated on fueling performance in the current than just evaluating it in the past (Ott, 2020). They have realized that they should shift their performance evaluation aim from the past to the future; ratings show more of the rater than they make of the rate and thus feedback should be frequently provided rather than giving annual ratings. The organisation also recommends that the superior technique to make sure of frequency is to have frequent check-ins of near time work began by the members of team.
The performance of Deloitte is further getting effect from a consumer technology medium that is planned to be simple, fast and above all, involving. Individuals incline to be interested in themselves- their personal insights, gains and effect thus they consider that using such a technique would involve a worker around their individual performance in a manner they had not done (Ott, 2020). From personal perspective, members of team should get a weekly progress report where there are four distinctive indicators that associate into the weekly score. For conclusion, Deloitte recognized that conventional, 360 reviews were not efficient. Moreover, they do not provide a transparent opinion of the present working condition. Therefore, it is time to recreate the process of performance management. In addition, employee performance snapshots have to be frequent and the technology have to be designed in simplest, quickest and engaging to employ.
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