Blog
#HR:Changing – Continuous Performance Management
- 14/11/2020
- Posted by: Ajith Bopitiya
- Category: HR-CHANGING
The Performance Management Policy with once-in-a-year feedback and ratings is long gone. With the expectation of achieving high efficiency, increased staff participation and acquisition of talent, companies have experienced a major change in performance management. “As a tech vendor and business insider, when we worked with over 200 multinational organisations in 2019, we knew this,” said Tushar Bhatia, CEO of Empxtrack. Organizations engage in Continuous Performance Management (CPM) software to help streamline their corporate operations and inspire workers.
“The biggest problem in a typical assessment method is that input is given to staff at the end of the year or at unique pre-ordained deadlines,” Bhatia reiterated. This does not work with workers, it is counterproductive to the productivity of employees in several respects. Continuous Success Improvement facilitates daily contact with the worker and the boss, providing prospects for course adjustment, timely input, coaching and growth focused on company requirements. By applying the CPM methods, efficiency will go up by as many as 15 per cent.
The use of CPM processes is projected to increase expansively in 2020. HR tech providers, such as Empxtrack, are now providing CPM solutions to foster a work community where there is a proliferation of ongoing coaching and mentoring, positive suggestions, comprehensive evaluations, professional growth plans, impartial praise and appreciation.