Continuous Performance Management (CPM) is an appraisal process that provides detailed assessment and continuous monitoring of an employee throughout the cycle in organization.
Importance of Continuous Performance Management and why it was not successful earlier
Companies are putting so much efforts to make Continuous Performance Management successful for many years. However, managers were rarely taken it seriously, held accountable or recognized for engaging in on-going discussions. I agree that Managers have so much commitment and involvement in all other activities like productivity, profitability etc., to move forward and neglect resource development for long run. In contrast, a continuous performance management embraces processes that encourage more frequent feedback conversations and proactive discussions about development in all respect.
The success of CPM hinges on managers and employees actively engaging in effective on-going dialogue about performance and development. Managers and employees know they should have these sorts of on-going feedback discussions, but many fails to do so. This is one of the primary challenges associated with continuous performance management.
Some of other major challenges are
- Growing of Employee Attrition Rate continuously
- Short supply of talented & qualified resources for future leadership role
- Low Employee engagement
What next and way to succeed with Continuous Performance Management?
SuccessFactors began series of discussions and interviews with customers in all industry and to identify the conditions for successful move to CPM. SuccessFactors had come up with eight conditions which shows the growth and deployment of CPM.
- Buy-in and Motivation – CPM works only when leaders have strong commitment to its values as worthy of their time, energy and resources. There may be organizational change in business process due to CPM in place.
- Feedback-rich Culture – Feedback Culture plays big role. If people are already accustomed to regularly giving, seeking and receiving feedback, it is easy to go with CPM and accustom within no time.
- Goal-oriented Culture – CPM is easy to move forward where people goals are well defined, communicated and people are held accountable.
- Quality Relationships – Team Culture, motivation and Spirit paves a way for CPM. If there is a strong level of relationship between Employee and Manager and both are ready to share their view, feedback, commitments and achievements.
- Training on Receiving and Giving Feedback – Trainings and Open discussions on culture and feedback sessions will add value to move ahead with CPM easily
- Transparency of Data and Talent Decisions – People should be more transparent on how CPM works better and how talent decisions are made.
- Feedback Systems – As mentioned earlier, CPM depends on regular feedback conversations. It is important to have defined structure of feedback process that triggers and encourages routine dialo..
- Effective feedback has benefits for the giver, the receiver, and the wider organization
- Program Evaluation and Management – It is very important to have triggers that encourage routine dialogue and feedback, and maintain an accessible record of what is discussed.
Introducing SuccessFactors Continuous Performance Management (CPM)
SuccessFactors has come up with a unique method of Continuous Performance Management process that helps you and your manager to have meaningful and structured discussions and connects those discussions to the SuccessFactors suite, and allows you to capture your most celebrated achievements in real-time.
CPM has a very flexible process that drives “Continuous Engagement”. It is a continuous process with activities, Goal alignments, feedback, reward and achievement etc.
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Key Features of Continuous Performance Management
- Easy to capture day to day working activities and their achievements
- Better transparency to the managers
- Continuous and more feedback
- Tracking of each activity
- Support and provide coaching wherever necessary
- Run Ad-hoc reports
- Activate notifications wherever necessary
- Capture Achievements
- Request Feedback
- Integrate with other SF solutions (PM/GM/Calibration)
It is very important to determine how a continuous Performance Management solution would fit into your existing processes or any elements of your process to be replaced/amended.
Please do remember that There is no single “Best Practice”. The uniqueness of CPM is that It can be used supplement or even streamline or replace elements of your existing Talent Process.
This technology offers the flexibility to pursue any number of paths as per customer requirement.
Design customer own best Path using Continuous Performance Management
Many companies looking to retain their approval process for legal/record keeping purposes with best possible flexibility of process.
Some of best approaches using Continuous Performance Management are
a) Full Process
Establish Goal ->Continuous Performance Process (Conversations) -> Lightweight Assessment-> Calibrate -> Reward
Continuous Performance Conversation (cycle) defines on-going goal activity, activity alignment, coaching and feedback.
b) Process with Performance Management Form
Establish Goal -> Continuous Performance Conversations->Calibrate-> Reward
c) Limited process with Continuous Performance Conversation
Establish Goal -> Continuous Performance Conversations->Reward
Pilot Survey before Big Bang is always recommended. Customer can raise below survey questions and understand the added value of Continuous Performance Management