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.
This information is 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.”
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Infographic by Mercer Insights