Drive individual & team performance
Enable Employee Self Actualization through Continuous Performance Management
Performance Management is one of the oldest organizational concepts that is amongst the most relevant even today. Having already seen plenty of overhauls to the approach, strategy and governance of Performance Management frameworks over the last 3 decades, it is once again at the cusp of a major transformation.
And PossibleWorks is at the heart of this generational change with its Employee Performance Management Software
So what has changed?
- Traditional Employee Performance Reviews were rooted in the past but now they are becoming continuous with a focus on the present
- Negative Feedback was a mainstay in traditional employee performance review methods, but we have realized that they only create defensive reactions and thus the modern approach frames the feedback around learning and impact
- Ratings used to be arbitrary and biased in the traditional approach but have now transformed into holistic feedback that is aligned to organizational objectives without broken chains
- Digitization has tremendously helped performance management re-shape itself to assimilate the changing mindset. And this makes performance management look different.
Digitization has tremendously helped performance management re-shape itself to assimilate the changing mindset. And this makes performance management look different.
So here’s what you might want to look for in your current practice
- OKR based & agile Goal Management whose foundation is built on break-free alignment of objectives from the top to the bottom of the organization
- Feedback that is continuous (round the year) and arising from multi-directional sources that span all 360 degrees of an employees’ range of professional influence
- Real Time goal tracking that brings greater predictability to desired organizational outcomes and creates learning portfolios
- Mechanism to drive regular conversations that are logged, tracked and measured
- Ability of your organization to continuously innovate through a concoction of collaboration, mentoring & recognition
- Greater predictability on business metrics being driven by employee contributions
Look at what PossibleWorks Employee Performance Management Software has to offer
OKRs - The Objectives & Key Results (OKR’s) approach is key to ensuring break-free alignment across all members of the organization. The OKR process enables setting goals at Organizational, SBU/Department, Team & Individual levels with clear mapping/ cascading that is visible in real time through the progress it goes through. This approach helps in keeping OKR’s at the top of each employees’ mind and our AI driven insights ensure more accurate measures are taken at the right times and using the relevant organizational resources.
The OKR process also plays a pivotal role in improving collaboration. The increased visibility and alignment between one’s own goals and the teams collective goals drive team members to work together with out external stimulus to achieve collective objectives.
Research suggests that less than 5% of employees can name their company’s top 3 priorities with reasonable accuracy
Instant Check-Ins – Now, you no longer need to scout through email threads, long spread sheets and files of paper documents. Instant check-ins are a simple way to track progress, potential & pulse in real time, thereby having the leverage to take necessary actions before target timelines expire.
It is a known fact that often the identified paths to success need to be altered in accordance with dependent factors. Check-ins thus become a great communication tool that ensures there is regular review, assessment and progress without delay in deliverables. Just think of how much that could translate into in monetary benefits?
360 Degree Feedback - Traditional feedback systems have relied on uni-dimensional or at best bi-dimensional perspective. This clearly leaves a lot of uncovered grey area that results in inaccurate performance assessments. With PossibleWorks 360 Degree Feedback solution, real-time feedback can be obtained from all relevant stakeholders, covering every degree in a 360-degree span. Managers, Peers, Vendors, Customers can all be triggered a structured set of targeted questions from our pool of competency-based questionnaire at a custom defined period, at random times with an admin defined frequency or at the beginning or end of pre-defined milestones or events.
The perceptions of others within our circle of influence, whether those perceptions are accurate or inaccurate, often impact our level of success. This is where 360 feedback comes in
Custom Playbooks - A leading indicator is a predictive measurement, for example; the percentage of people wearing hard hats on a building site is a leading safety indicator. Lead indicators play a critical role in ensuring the accuracy of desired outcomes and in investing the right resources based on early signals that these indicators could reveal.
Imagine, if this could be embedded into your performance management system to guide all employees to stay on course or if required correct the course, all at the right time and well before a negative verdict on the outcome can be written?
With PossibleWorks’ Performance Review Software, lead indicators can be created for every goal.
And it doesn’t stop there. With PossibleWorks, Custom Playbooks can be created and assigned to different goals. These playbooks can serve as ideal paths/ critical paths as defined by past experiences for a similar set of goals. Employees can then track in real time, how closely they are functioning to the playbook and predict if that might alter any cascaded goals.
1-on-1 Interactions – PossibleWorks’ Employee Performance Management Software lets you digitally simulate 1-on-1 interactions. And that too at a goal level. Each goal has an inbuilt chat functionality that allows focused conversations for every goal covering progress status, suggestions on approach and tactical changes between the reviewers and the goal owners. Exchange of files and tagging colleagues who might hold an expertise related to specific goals provides the ideal platform for a higher success rate. The ability to have regular 1-on-1 interactions ensures you are driving ‘Continuous Performance Management’
Individual Development Plans
Effective performance management should lead to the identification of development plans that are targeted, relevant and based on individual experience while delivering specific goals. These developmental plans should then translate into future goals and get embedded into a structured learning plan for each employee. This enables continuous learning and results in sustained improvement in the individual employees’ performance
Embedded Rewards & Recognition – Rewards and Recognition programs highlight key round the year information about employee contributions both to and above set KRA’s. Traditionally, these programs ran independently and did not influence the overall performance profile of individuals and teams. With the PossibleWorks platform, recognition badges are aligned to each employees’ performance and can be viewed in real time along with their progress on KRA’s. Manager’s thus have visibility of an employees all round contribution which in turn helps them in leveraging an employees’ unknown skills and knowledge in future performance goals.Good Performance Management processes should contain critical opportunities for recognition and therefore motivation
Performance Dashboards – With so much information flowing around how an employee is approaching and working on goals that impact organization success, it is imperative to translate all that information into meaningful insights that can influence management decisions. PossibleWorks uses the power of AI to create real time performance profiles of individuals and teams that reveal crisp yet critical insights about how the workforce is contributing to the organizations’ progress.
Our dashboards contain standard metrics as well as the potential to embed company specific metrics that are relevant to the leadership priorities within a given time period.
Our Performance Dashboards thus empower CEO’s to directly drive Continuous Performance Management and derive real time insights on how their workforce is contributing to the overall company vision.According to PWC’s 17th Annual Global CEO survey, chief executive officers are well aware of the extraordinary challenges in talent management, performance and engagement but are uncertain about how to tackle them. 93% say that they recognize the need to make a change, or are already changing, but there’s still an enormous gulf between intention and action; a staggering 61% of CEOs haven’t yet taken the first step