{"id":603,"date":"2018-04-27T05:28:58","date_gmt":"2018-04-27T05:28:58","guid":{"rendered":"http:\/\/grosum.com\/topTalk\/?p=603"},"modified":"2018-07-18T07:56:58","modified_gmt":"2018-07-18T07:56:58","slug":"soumyasanto-sen-performance-management","status":"publish","type":"post","link":"https:\/\/grosum.com\/topTalk\/soumyasanto-sen-performance-management\/","title":{"rendered":"Soumyasanto Sen, Co-Founder & Partner, People Conscience"},"content":{"rendered":"

\"Performance<\/a>Soumyasanto<\/strong> is an Advisor in People Technologies, Management & Transformation | HR Technologies.<\/p>\n

> Evangelist Future of Work, People Analytics<\/p>\n

> 30+ Top Global Influences in HR Tech of 2018<\/strong><\/p>\n

Soumyasanto is currently engaging in AI-driven Analytics, Cultural Analytics, Blockchain, Gig Economy and Future of Work for People-Centric businesses & Transformations. Over 13 years of experience in HRMS, Strategies, People Analytics, Products, ERP, UX, Innovation, Leadership, Management advisory with large enterprises around the world.<\/p>\n

He has worked in more than 15 large HR IT Transformation projects from design, development, testing, integration and full delivery. Engaged with various companies worldwide in US, Europe, Asia-Pacific and the Middle East for Implementation, Optimization, Rollout, Migration and Support projects.<\/p>\n

He is also an Investor<\/strong>, Mentor<\/strong>, and Advisor<\/strong> for potential Startups on HR Technologies.<\/p>\n

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How important is Performance Management (P.M.) in today’s high-flux organization?<\/strong><\/h2>\n

If we try to understand the definition, the Performance management\u00a0is an ongoing process that provides feedback<\/em>, accountability<\/em>, and evidence<\/em> for performance outcomes to ensure that employees, teams, and departments are meeting strategic organizational goals.<\/p>\n

Performance management, when handled skillfully in an organization today, can increase job satisfaction<\/em>, employee retention<\/em>, loyalty<\/em>, and overall performance<\/em> of the organization.\u00a0It\u2019s has been seen that employees are happier, engaged, motivated and more dedicated to organizations.<\/p>\n

Today, organizations are rethinking fundamental aspects of the performance management process, including the frequency with which reviews are done, methods of manager training, and goal alignment. Recently we have seen an explosion in Performance management with\u00a0continuous employee feedback,\u00a0pulse surveys, and\u00a0people analytics\u00a0tools like ONA designed to improve the employee experience and organization performance as a whole.<\/p>\n

Organization is also focusing today on a high-performance team that can be defined as a diversified group of people with specific roles and complementary talents and skills, aligned with and committed to a common purpose, who consistently show high levels of collaboration and creativity, that produce superior results.<\/p>\n

Today organization needs a new paradigm to demonstrate trust, passion, commitment, transparency, flexibility, and cooperation that can reach high standards in terms of performance and for better a sustainable future. Recently I have contributed to a book written by entrepreneur and thought leader Miguel Reynolds Brandao<\/a>.<\/p>\n

The sustainable organization \u2013 a paradigm for a fairer society: think about sustainability in an age of technological progress and rising inequality<\/a><\/p>\n

Whose responsibility is Performance Management?<\/strong><\/h2>\n

Performance management is much more than a simple annual review. So both employee and manager need to be constructive and more responsible. An effective performance management ensures that an employee receives regular, valuable feedback to assist in the pursuit of furthering career goals and supporting the organization.<\/p>\n

Leaders have more responsibilities than to their people management accountabilities; leaders are responsible for linking performance management with the organizational planning, systems, and processes.<\/p>\n

If we see a High-performance team, they are more pull than push. Leaders in high-performance teams know\u00a0how to create energy and enthusiasm in the team. Team members should feel\u00a0inspired, that they are\u00a0on a purpose and what they are\u00a0doing is\u00a0of great importance.<\/p>\n

What are the key gaps in current industry practices in managing employees\u2019 performance?<\/strong><\/h2>\n

There are practically many gaps in current industry practices when considering performance management. The biggest gap is the right balance between the synchronization of organization goals along with employees and the growth opportunity for the employees through learning and upskilling. On one side organizations try to sync with employees goals<\/a> with the company\u2019s vision and strategy. On the other hand, it\u2019s also a responsibility for an organization to provide meaningful and positive work environments to their employees. Along with the right reskilling opportunities (much needed in this Digital Era) by relevant learning and motivated engagements.<\/p>\n

\u201cPerformance management is a complex process that is evolving to focus on relating individual goals to corporate values and priorities.\u201d<\/em><\/p>\n

Another gap one can see is the trust in leadership, as there is a demand for open and transparent management style today, these need to be reflected throughout the entire organizational structure.<\/p>\n

Organizational Culture plays a very important part here, as they have a role in the organization\u2019s goals, performance measures, standards and expectations, policies and procedures, rewards & benefits, decisions, organizational learning, and continuous improvement programs.<\/p>\n

Other than better pay or job roles, what are the main reasons why people change\u00a0jobs?<\/strong><\/h2>\n

Glassdoor<\/a>\u2019s statistical analysis reveals the top three factors that matter most for employee retention<\/a>.<\/p>\n