Despite an understanding that talent is a source of competitive advantage — and the fact that performance management programs have been an established business practice for more than 50 years — organizations today still struggle to establish effective programs, according to Mercer’s latest Global Performance Management Survey. Performance management leaders from 1,056 organizations representing 53 countries indicate that their programs share a number of similar design components — and agree that these programs are not as effective as they could be.
“In today’s challenging business and economic environment, companies are struggling to achieve important outcomes — like focusing employees on the ‘right’ things and driving them to perform at higher levels — with their current performance management programs,” said Colleen O’Neill, Senior Partner at Mercer. “And even though there is a lot of talk about innovative performance management practices, few organizations made revisions to their practices in the last few years.”
Learn more about trends in performance management.
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For more information about enhancing performance management programs, visit www.imercer.com/performance.