The workforce has fundamentally changed rather than gradually changing. It's now characterized as "more digital, global, connected" with "highly talented millennials that are more motivated by work experience than a paycheck." The business landscape is evolving rapidly.
A key statistic: "Millennials will make up 75% of the global workforce by 2025."
The Performance Management Movement encompasses: Annual reviews being replaced by frequent feedback touchpoints. Leaders shifting from evaluation/rating to coaching and feedback. Self-directed, on-demand learning replacing traditional programs. Integrated mobile platforms with data/analytics replacing separate systems.
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"80% of executives rated the employee experience very important" according to 2017 Global Human Capital Trends.
Key challenges companies face include: redefining talent, understanding skill gaps, creating employment brands, integrating sourcing with HR, aligning goals with development, preparing leaders, creating performance-based learning, measuring impact, and replacing legacy Learning Management Systems.
"Only 24% of companies feel excellent at aligning employees with corporate purpose and only 14% understand emerging skill gaps" according to 2017 Global Human Capital Trends.
Free Guide: Is Your Workforce Ready for AI?
Download our assessment checklist to evaluate your organization's AI readiness.
Step 1: Sanity Check - Executive leadership must fundamentally believe talent investment drives different results.
Step 2: Redefine Performance - Organizations must define job role performance by answering five critical questions about results, indicators, performance requirements, necessary knowledge/skills, and personality attributes.