With FY 2020-21 coming to an end, the New Year marks a new beginning of the upcoming decade. Employees across the globe are preparing themselves for new challenges. It isn’t hidden that many jobs have come to an end in this pandemic, but it is also a fact, that new job opportunities are flowering up resulting in new vacancies in the upcoming years.
To mark this new beginning we have enlisted some trends which are rapidly transforming the way we work. These trends will impact your all current talent strategies and processes. But for this particular blog, let’s discuss how these trends will impact your appraisal system. So let’s get started:
#Trend 1: A diverse workspace
With the advent of anti – interracial movements and the promotion of equal employment of people of different roots, many companies have opened their vacancies for international/ national job seekers.
The stated measure has been taken to promote and escalate diversity in the working culture of the office. This step will not only allow people from under developing or developing countries to seek their desired career but also lessen the discrimination among the people.
Not only this, a diverse workspace would bring enriched minds from different ethnic backgrounds together to yield optimum output leading to an increase in sales and expansion of business.
But with talent spread across geographies, how will the organizations drive performance towards common business goals and take other crucial decisions regarding promotions and pay hikes. Businesses will have to narrow down on a combination of performance management systems that work for their diverse workforce. What we fore see is a need for more real-time and continuous feedback mechanisms integrated in the very system of the organization.
#Trend 2: Upskilling for the future of work
It is a much known saying that change is the only constant. And it is!
When someone decides to outgrow themselves with time, they evolve for their better, just like caterpillars pop from cocoon to be butterfly. It is evident from the web searches that the number of people who have been taking online courses to uplift or boost their resumes has increased rapidly. Today, there are many online courses, from paid to free just a click apart available on the internet.
But how does learning anything new, especially from short online courses link with appraisal systems. To ensure continuous learning for everyone in the organisation, many companies are now linking appraisals with learning goals. Linking learning goals with performance appraisal benefits not only the employees but also the business. It boosts the self-esteem of the employee and also opens the door for a better future: There people who are stuck in their unfavourable work environment because they fear that won’t find a better job than their current one. Well, that’s not true. There is always a scope to play well doesn’t matter wherever the person is, if they are confident enough they will carve their way.
#Trend 3: Go digital
In the recent two years, many companies have put their best to expand and establish their digital presence. Almost millions of big to small companies have their openings and presence on digital platforms which tells a lot about the power of digital presence.
Remote working opportunities are high in demand because as discussed above, it opens the gate for people of any nationality to bid for their career at the expense of their skills. Besides, to support the work from home opportunities, many companies have started providing digital tools to manage the responsibilities. Hence, a digital world of work requires digitized performance appraisal systems. Today many new HR tech solutions are available to help companies conduct virtual feedback sessions, record goal sheets, document feedbacks, and facilitate the entire appraisal process.
#Trend 4: Welcoming new ways of work
Working from home has its challenges; there is a reason why people try to keep their workspace physically separated from their homes. But unfortunately, this cannot be possible for remotely working people which has put a toll on the physical and mental health of the employees. There is a tremendous hike in the number of cases of depression, anxiety, stress and other mental ailments in this pandemic period.
Keeping this thing in mind many companies have started remodeling their work ethics to ensure better health and stability for their employees. How do these changing work ethics impact the appraisal systems is important to understand. For instance, the goals must not be over-stretched to the expense of employees’ health. Further, the entire appraisal system must be looked at holistically and should take care of the needs of both business and employee. Another example, the new world of work also requires the elements of upward feedback and peer-peer feedback, giving a larger view of challenges and opportunities present in the organization.
#Trend 5: Coaching, mentoring and feedback for all
A bicycle cannot move forward unless both of its wheels agree to march together at a consistent pace. Similar is the situation within work life, not only employees but managers and seniors too should learn new things with time and take steps to reduce the friction. When we talk about creating a culture of continuous feedback, it is not only for the employees but also for the managers.
All business leaders must initiate performance discussions and also seek feedback from their reports to know how they can better support them. The ultimate goal is to drive performance towards common business goals and also attain personal growth in the process. A holistic appraisal system can make this possible.
Contact Headsup Corporation, if you are looking at creating or revamping Performance Management System.