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In the post-recession business reality, performance management is becoming a key enabler of high performance.
Accenture explores the practices of leading companies to help provide a blueprint for a more effective approach to performance management.
One of the effects of the recent recession is a renewed focus on how to think about and manage workforce performance. After a spate of cutbacks and redundancies, many workforces are leaner. Organizations are relying on a smaller pool of (hopefully) more effective talent. In managing the performance of these workforces, organizations are focusing on risk, sustainability and cost management—all components of the new business reality.
Performance management is set to play an increasingly important role in organizations’ ability to achieve business goals and ultimately attain high performance in this new world. However, many organizations lack an effective approach to performance management. To help organizations overcome this challenge, Accenture explores the performance management practices of leading companies.
Accenture’s experience and research indicate that performance management is more than an annual review conducted by the HR department. Rather, it is a pervasive part of corporate life, comprising a continuous cycle of setting expectations, managing, coaching and developing. The practices of leading organizations have five characteristics. For these companies, performance management is:
July 29, 2010
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