Gone are the days of yearly performance reviews and goal setting. Nowadays, employees expect regular feedback and guidance to help them reach their peak potential. But this new environment presents a unique set of challenges for employers when it comes to tracking progress.
A recent Deloitte survey showed that a huge 58% of Execs don't think their current performance management is doing much to increase their employee engagement or promotes high performance [Harvard Business Review]. To fix this, employers need to find ways to give useful feedback tailored for each individual's needs. This means having an effective system that can track employee growth over time and adjust guidance as needed - one that works across all teams in the organization, no matter where they are or what device they're using.
The trick is finding a solution that meets these criteria while being easy enough for both managers and employees alike to use daily, without feeling overwhelmed by complexity or data overload. With the right tools in place, organizations can get real-time insights into employee performance and engagement, so they can make informed decisions about how best to support their teams' growth going forward.
Make Employee Performance Count: The Benefits of Smarter Performance Management systems.
Performance management is essential for success. It helps organizations align their employees, resources, and systems to meet strategic objectives [Mckinsey]. Everyone's held accountable and rewarded fairly - leading to increased employee engagement, satisfaction, and productivity, while reducing employee turnover. A study by Quantum Workplace, found that organizations with effective performance management are 12x more likely to have strong business outcomes than those without, and had 31% lower turnovers thanks to implementing employee recognition.
If your organization is looking to get the most out of its employees through performance management, an intranet-based system may be the way to go. Cloud-based intranets like The Hub make it easy to store all of your company's data in one place - from individual personal development plans, to company-wide initiatives. This makes it so much simpler for managers and employees to access what they need quickly, and track their performance.
Greater access and visibility into how your organization's performance management program is performing over time; allows adjustments as needed. And intranet systems are highly customizable so you can tailor them specifically according to your organization's needs - ensuring each employee receives personalized feedback just for them!
Reimagine Performance Management: Rethinking Old-Fashioned Models for a More Efficient Future.
The last few years have made it clear that traditional performance management models are no longer suitable. With digital transformation and remote work on the rise, companies must find new ways to measure employee success. This means ditching outdated metrics like annual reviews, and leveraging technology for tracking progress, setting goals, and providing real-time coaching.
Companies must take action to keep up with the ever-evolving digital age to ensure future success. Investing in new employee-focused tools, strategies, and processes to create a more comprehensive performance management system is essential to ensure your business stays ahead of the curve and maximizes its potential, and the potential of your employees.
The advantages are numerous:
higher productivity,
improved job satisfaction,
increased trust in management,
better staff retention,
safer workplaces,
higher-quality products/services.
If organizations want to stay competitive in 2023 and beyond, they will need to embrace these digital changes - or risk falling behind as their competitors move forward with modern employee performance management strategies.
The Potential of Intranet-Based Performance Management: Understand How it Works and How Your Organization Can Benefit.
Intranet performance management systems (PMS) like The Hub are invaluable tools for businesses to track and measure employee performance. These tools allow companies to empower employees and drive their continued success, giving employees direct access to their own private group space that houses everything they need to track their performance, including details on their job roles and responsibilities, personal development plans, appraisals and company expectations. Systems like Hub offer managers a powerful way to set employee goals, measure progress, provide feedback, and recognize employees for their hard work and achievements.
Managers can then use this system to track progress against company objectives over time, as well as provide feedback on individual or team performance in order to help employees reach their goals more effectively.
With intranet performance management systems like The Hub, businesses have the power to monitor and measure individual performance, so they can better understand which employees are achieving their goals, and how needs support.
Benefits of an intranet-based performance management system.
Workplaces are always changing, so new tools to manage employee performance are a must. Popular performance management tools like The Hub include 360-degree feedback, employee wellness schemes, and clear goal-setting. An intranet-based performance management system could be the way to go for businesses looking to streamline their operations. Managers and employees get all the information they need, including employee performance, all in one digital workplace.
Most importantly, intranets can provide real-time feedback - whether thats using quickfire polls, surveys, peer recognition, or group forums. The primary benefits of intranets are their ability to facilitate effortless two-way communication between employees and managers. By providing a centralized platform where feedback can be shared in real-time, this system allows managers to quickly identify areas where improvement may be needed and address them accordingly, while also easily sharing success stories of jobs well done in real-time.
Moreover, employees are able to access important information about their job performance without having to wait for periodic reviews or meetings with supervisors.
Similarly, systems like The Hub come equipped with features like automated reporting capabilities which allow you to easily track progress over time and ensure that goals are being met on schedule.
How The Hub makes performance management a breeze:
Smart tools for easy setup. When a new employee joins your company, you can quickly spin-up a new personalised performance management group space in just 3 clicks. Hub's smart tools allow you to save template groups, complete with all the information folders and form workflows you need to build a performance management plan - saving you the time and effort of having to manually recreate for a new group for every new employee. This means your employees can hit the ground running and know their goals from Day 1.
Tailored to each employee. Hub's personalised group spaces allow you to deliver fully personalised performance management plans for each individual employee. These private group spaces house dedicated information folders covering their role, objectives, appraisals, development plans, 1-2-1s, etc. This means every employee knows exactly what they are doing and where to go to find their performance information, and track their development progress.
Easily accessible from anywhere. No more wasting time tracking down people who are away from their desks. With The Hub, managers can log into their accounts and give feedback right away. Plus, employees don't need to install any software - they just go online whenever it's convenient for them, from any device.
We couldn't be more pumped to announce that Hub's employee intranet has officially been ranked in the top 3 best employee solutions in the industry according to peer-review tech site G2. Our customers have spoken and they've given our platform some of the highest ratings for employee communication features, including search, file sharing, version control, user permission management - and most importantly - unbeatable pricing!
Intranet performance feedback: 7 ways to do it.
Online performance evaluations: Employees can submit self-evaluations, and managers can provide feedback and ratings.
Peer review: employees can share and receive feedback from colleagues, managers, and subordinates.
A goal management system on the intranet allows employees and managers to track their progress on goals.
Instant feedback: On the intranet, employees can get real-time feedback on their work.
Feedback forums: Employees can exchange feedback and discuss performance-related topics.
Recognition programs: Employees can be recognized for their achievements through an online recognition program on the intranet.
Dashboard: Employees can view their performance metrics, such as sales figures or customer satisfaction scores, on a dashboard accessible through the intranet.
The Challenges of Implementing an Intranet-based Performance Management System
Integrating multiple systems, such as a CRM or HR, to track and reward employee performance is no simple feat. Finding the right tool that speaks to all your systems and collates the data can take time, so find the best solution that's flexible enough to suit your needs.
Everyone needs proper training and support so they can know how to use the system proficiently, and understand the tools and processes in place to conduct performance management on your new employee intranet.
Any changes or updates should be communicated clearly as well, which thankfully is a simple task thanks to Hub's news alerts and must reads.
Security protocols must also be in place before launching a performance management system on an intranet. You want to ensure the permissions are setup correctly so that private employee performance group spaces are just that - private. Unauthorized access could have serious repercussions for employers and employees alike - better safe than sorry!
Implementation challenge #1: Cost
The cost of setting up a dedicated performance management system can sometimes be high, especially if you're looking to build and maintain one yourself. Businesses have to think hard about the costs and weigh them whether its worth having a standalone PMS.
On the other hand, incorporating a PMS into your employee intranet can have significant cost savings and is a bit of a no-brainer. By centralizing project information and having a single platform to log into, it makes it easier for employees to access, cuts down on paperwork and emails, and boosts communication between team members, leading to more efficient and effective management. Plus, it can improve collaboration and productivity - all of which adds up to major cost savings in the long run.
Given this, The Hub intranet is a great option for businesses on a budget who want their performance management systems up fast. It's cloud-based and can scale as needed without any extra hardware or training requirements - plus its scalability and flexibility mean its features can be easily adapted to your changing needs.
Implementation challenge #2: Resistance to change
Introducing new performance management systems can cause resistance among employees and managers. But, it's up to leaders to communicate the value and ease the transition by providing support. Fortunately change is inevitable and usually for the better.
To increase success and drive results, organizations should communicate the advantages of intranet-based performance management systems effectively. That means providing training, support, gathering feedback, and involving employees in the process. Taking a proactive approach to any hesitations around change will help ensure successful implementation and improved employee performance.
In light of this, The Hub intranet platform makes implementation and new product adoption easy with its cloud-based nature, scalability, and dependability. Perfect for businesses on a budget, the user-friendly interface makes training simple and efficient. With The Hub intranet platform, your team will be more productive, organized and collaborative - key to successful system implementation that helps you reach your business goals!
Now, you might be thinking, "But won't implementing a new system disrupt my business's day-to-day operations?" - The answer is yes, it will to a certain extent, but only under the premise of change, as you'll have to learn a new way of doing things, but the end result might be that the 'new way' is quicker and easier, so ultimately less disruptive in the longrun. Furthermore, the benefits of a streamlined and centralized performance management system far outweigh the temporary inconvenience of implementation. With The Hub intranet platform, you'll be able to improve communication, collaboration, and productivity among your team members - all key factors that contribute to the success of your business.
Unlocking the Secrets to Successful Implementation:
You’ll want to equip your employees and managers with the support they need to use the system effectively. Get them involved by asking for their input on how it can be tailored to fit their needs. Show them the benefits, like increased efficiency and better tracking of performance, so they don't worry about change. Offer incentives or rewards as an extra push towards adoption, plus ongoing support and resources for a smooth transition. Keep monitoring feedback too - that way you'll know if your system is meeting organizational goals.
5 ways to ensure a smooth implementation:
Make sure your employees and managers know how to use the new process - don't assume they know what to do.
Get your team involved - ask for their input on how the system can work best for them.
Show them the benefits - explain how the new system will make their lives easier and help the company run smoother.
Offer incentives or rewards to encourage adoption - it'll give them that extra push they need.
Keep an eye on how things are going - ask for feedback and make adjustments as needed to make sure the system is meeting the company's goals.
Implementation challenge #3: Ensuring data security and compliance
When implementing an intranet-based performance management system, you want to keep your data secure and compliant. Any system you choose needs to have robust security measures in place, like secure login protocols, encryption of stored data, and regular security audits.
Plus, industry data protection regulations like HIPAA and GDPR must be followed - this includes getting consent from employees for the collection and usage of their info as well as providing safeguards against unauthorized access or misuse. It sounds complicated, right? Thankfully systems like Hub make this easy. As an ISO 27001 certified solution in Information Security Management, you know your data is in safe hands. Plus we're regularly audited and penetration tested, to ensure our platform is robust and secure...and what can be more secure than being Google Cloud Platform hosted! Hub also has peace of mind for your employees over their data protection, with dedicated Personal Data Reports, allowing employees and your Hub Admins to run a report to disclose all data held on that employee. It's all about striking a balance between improved performance and benefits and protecting sensitive employee information, and thankfully at Hub we feel we've managed to do just that.
Implementation challenge #4: Addressing concerns about bias in performance evaluations
When it comes to performance management, bias and subjectivity can be a real challenge - especially for remote or virtual teams. To tackle this, organizations need to design their performance management system with objectivity in mind. This means setting rigorous criteria and metrics, as well as training managers on how to conduct unbiased evaluations.
For example, organizations can design a system that allows for 360-degree feedback from colleagues, customers, and other stakeholders, in order to provide a more balanced evaluation of an employee's performance.
It's also important to give employees the chance to provide their own feedback so they feel heard and valued. Tools like Hub's Polls, Surveys and Forms are a perfect way to do this, allowing employees to voice their opinions, provide feedback and share their concerns - anonymously if they choose. Taking a proactive approach here helps companies benefit from more efficient and effective performance management systems - something essential in today's ever-changing business landscape.
It's Time to Shake Up Your Performance Management Process: Here's Why.
It's time to rethink how we handle performance. According to research by Gallup, employees who are involved in setting goals with their manager are almost four times more likely to be engaged [Lattice].
Too often, managers focus on criticizing employees instead of motivating them - and that can really damage morale and productivity, and can lead to an increase in quiet quitting and staff turnover. It's like a teacher only ever punishing their students instead of rewarding their hard work - it'll only create resentful, unengaged students who won't want to learn.
Instead it’s vital to take the time to review performance management programs with the aim of creating an atmosphere where everyone is empowered to reach their highest potential. The Hub, with its customizable collaboration features, is designed to showcase employee successes and help us make the shift towards a culture where everyone is encouraged to reach their full potential, for a happier, more motivated, connected working environment.
Transform your organization's performance management to make it continuous, engaging, and in line with objectives.
Performance management is a cornerstone of HR, outlining roles, responsibilities and expectations for employees at all levels. It's also a guide for managers when discussing how their direct reports can improve or take on new roles. But what sets performance management apart from appraisal?
Performance appraisal is part of the larger concept known as "performance management," both helping employees develop skills and move into new positions - but there are some key differences!
Performance Appraisal is all about looking back at what you've done, but Performance Management creates a cycle of regular feedback so employees can speak up without worrying about being punished if things don't go as planned. It's like the difference between driving while looking in the rearview mirror and having a navigator in the passenger seat, keeping you aware of what's ahead and where you're going.
Too often performance reviews can be rigid and one-size-fits-all, but social intranet systems can offer more flexibility with continuous feedback. Similar to a tailor-made suit compared to an off-the-rack suit – a tailor-made intranet can fit the organization perfectly and can be far more comfortable for staff. It lets you give real time feedback after projects are done or get anonymous input from coworkers so managers can identify areas for improvement before interviews.
It's time to take performance management to the next level. By reimagining your approach, you can help ensure your employees stay focused on the right objectives, receive timely feedback and recognition, and create a culture of accountability and ongoing improvement. It leads to higher levels of motivation and improved performance, which is a win for everyone.
Final thoughts.
Performance management is key for any organization looking to thrive, and employees are their most valuable asset. Providing them with the tools they need to grow and succeed is key. With real-time access to relevant information, continuous feedback loops and the right infrastructure your team can stay engaged and feel supported in their growth - helping you stay focused on what really matters.