The new Subscribe-HR, Performance Management solution, ∏ (Pi), is about to be released, with the first inclusion based around real-time feedback. Real-time feedback can be given to anyone within the organisation, by anyone within the organisation, making this process a horizontal one, not vertical. The benefit of real-time feedback is that both Managers and HR can review and analyse data evenly across a period, rather than waiting until the actual review time, to collect relevant data, in order to make a decision about performance. The best performance management systems enable the creation of formulae, to automatically score the required attributes of Employee/s. Examples include; number of absences, grievances, response to surveys, length of Service, action plan management, and more. Instead of there being a skewed result, what business is seeing is a much more consistent participation of employees with one another.
The review of performance does not just have to be about tangible output; it works better in fact when feedback can be linked to culture and values. Doing this creates a more engaged workflow and a happier workforce, which ultimately impacts positively on the bottom line of a business. Whatever the business values or culture statements are, they need to be made visible to people. Hiring the right fit candidates to start with obviously helps with this effort. Real-time action plans are also very important in generating the ability for employees to be able to perform appropriately. Giving employees the awareness of what's required, as well as the tools to be able to perform, reduces stress about having to perform tasks that they might otherwise not know about. With the Subscribe-HR 'Organise, Supervise, Deputise' (OSD) model which has been spoken about by Chris Walker, employees can engage with their managers in a meaningful way. The OSD model allows Employees or Managers to set-up and highlight skills, that they would like to improve or obtain, for example, learning the Subscribe-HR Developer Solution. Once the skill is identified, the Supervise part of the process takes place. This is done over a period of time decided by both the Manager and Employee, which is appropriate to the learning. How, these 'skills' will be obtained, is also linked to the Supervise stage e.g. mentoring, knowledge base learning, training courses, Amazon book purchases, e-Learning etc. Mentor analysis can be performed directly from within the e-Recruitment Software, HR Software and Performance Management software solutions.
The Performance Management solution enables the calculation of scoring, the parameters of which can be decided at the end of the Supervise period. This process is called 'Deputising the Employee' for that skill, and is based on an evaluation rating / assessment e.g. 5 stars, badges, words etc. Each of these 'scores,' can be tagged to be included in the formulae that the system then uses to automatically calculate the overall performance of each employees during that period. Once Deputised, the employee may then become a mentor for this skill themselves. Successor Readiness can also be tagged in the system and calculated in a similar way. Rewards can also be allocated by Managers to Employee more frequently in smaller lots. Once again, delivering thanks in real-time and more frequently provides deeper levels of engagement. The reward does not have to be financially based, it can be as simple as a thank you at the Friday afternoon lunch. If a financial reward is provided, Managers should be able to manage a budget for this purpose themselves. Studies have shown that between 1% to 2% of total wage bill should be used as a guideline for this purpose.
The Subscribe-HR Performance Management solution's real-time feedback is not supposed to be implemented to totally replace traditional performance reviews. They are to be used together, in alliance with each other. The purpose of utilising technology in this proces is to allow tech to connect people and encourage all people within a business to communicate and share. HRIS software technology will greatly reduce the amount of time it takes to run performance management processes, which have been notoriously disliked by Managers and seen as a waste of time. The Subscribe-HR Performance Management (Pi) solution is being released in stages. The first stage 'Performance Feedback,' will include real-time feedback capabilities, followed by 'Review Builder,' which will use the SHaRe survey tool. Easy reference 'Dashboard Dials' are also being incorporated into this system, as well as a familiar user interface, to ensure maximum engagement and ROI.
There is a great book on performance management which I highly recommend you read if you have time: It's called 'The Crowdsourced Performance Review: How to use the Power of Social Recognition to Transform Employee Performance,' by Eric Mosley.