The latest from Lighthouse Research on what successful companies are doing differently in performance management.
Performance. It’s the goal of every company to have its employees operating at optimal performance, yet paradoxically some of the practices used to manage workers actually reduce their performance and engagement. By taking a more strategic view of employee performance practices, businesses can not only enable better individual performance, but better company performance as well. Sixty percent of employers have made changes to their performance management practices in the last 24 months and another 25% are planning to in the near future, so now is the time to capitalize on the available research to improve your own approach.
In the 2017 Lighthouse Research & Advisory Performance Management, Engagement, and Business Results survey, we analyzed what practices are being used most often in performance management. However, we also broke out what high performers are doing differently from the rest. For our purposes, high performers are those companies with improving KPIs year over year, such as retention, revenue, and engagement levels. The data paint a very interesting picture detailing how high performers differ from other companies, both overall and with regard to specific practices. It turns out that high-performing employers use different types of practices to evaluate, track, and encourage employee performance.