Ease into effective performance management with Ceridian's simple -- yet powerful -- new solution
From the November 2009 issue of Ceridian Connection.
As the end of 2009 approaches, organization leaders will reflect on successes and challenges of the past year. Certainly, 2009 will be a memorable year with its far-reaching impact on business performance -- from a historic "Great Recession" and subsequent record-breaking unemployment numbers to the unveiling of unprecedented employment and labor legislation.
As the economy hints at pulling out of a protracted nose dive, company leaders will sharpen their focus on hiring and developing talent, according to a survey of more than 450 senior executives on LinkedIn by Right Management, a Manpower company. The survey indicated that 94 percent of executives said talent management is a top priority for 2010 and 36 percent will focus on developing current talent. The survey also indicated that 20 percent reported that increasing employee engagement is a top priority. Career development opportunities and efforts to increase engagement typically improve retention, which may explain why only 4 percent of senior leaders indicated they would be focusing efforts on retention.
The jury is still out on when unemployment will return to prerecession rates -- some reports predict it won't occur until late 2010. However, employers will need to take proactive steps now and look for ways to enhance employee performance and productivity.
"Performance management is one of the first automated tools that a company will choose when looking at a talent management suite of products, which also typically also includes tools for goal management, compensation planning, learning management, succession planning and 360 degree reviews," explains Lisa Hart, Human Capital Management product manager for Ceridian. "An automated tool provides a way to rank performance based on certain metrics that are defined within the company or by the employee's manager."
Performance management is an effective method for employers to grade their employees based on specific competencies as well as standards and metrics associated with their position. Before the advent of performance management products and services, however, performance reviews were not an exact science due to the limitations involved in using manual review methods. And some small to midsize companies are still reluctant to get their feet wet by switching from manual performance management processes to an automated tool.
"Manual processes have the tendency to be short-term focused, such as looking at performance within the past month or quarter," says Pramod Mathur, Ceridian's vice president of product management. "An effective performance management system provides accurate employee data that helps organizations find areas of weaknesses and strengths, which helps them better evaluate their employees' performance over time."
Key in on success
In an economy where companies are faced with difficult workforce decisions, companies must take advantage of a good performance management system.
"You really need to work the system in order for the system to work for you," urges Mathur. "A lot of people fail at that, especially if the system is more complex than what they are used to. If they have been using pencil and paper, it is difficult for them to make the switch to the system. Ceridian's idea with our newly released Performance Management Express solution is to give our clients a simple system to start with and then grow them into the more complex features."
Mathur also noted that companies already using an automated performance management tool may not use it effectively -- such as being overly conservative when entering data into the system or entering it at certain points in time rather than on a continuum. With Ceridian Performance Management Express, employee performance data becomes relevant and useful because the tool captures, monitors and reports on all employee goals as well as a company's achievements.
"A solution such as Performance Management Express can ensure goal alignment throughout the organization and show employees how their efforts impact the company's broader goals," adds Hart. "It is a proven fact that effective performance ties directly to an employee's bottom line revenue and helps them achieve their top performance goals."
The engine driving Ceridian Performance Management Express is built on the industry's finest streamlined talent management platform, powered by SuccessFactors. Performance Management Express provides employers and employees with a Web-based, intuitive yet powerful automated performance review system. Built-in best practices and no implementation fees mean companies can be up and running with state of the art automated performance review management at virtually the touch of a key. Contact your Ceridian representative to learn more about how we can help tailor talent management strategies for your organization.
As the end of 2009 approaches, organization leaders will reflect on successes and challenges of the past year. Certainly, 2009 will be a memorable year with its far-reaching impact on business performance -- from a historic "Great Recession" and subsequent record-breaking unemployment numbers to the unveiling of unprecedented employment and labor legislation.
As the economy hints at pulling out of a protracted nose dive, company leaders will sharpen their focus on hiring and developing talent, according to a survey of more than 450 senior executives on LinkedIn by Right Management, a Manpower company. The survey indicated that 94 percent of executives said talent management is a top priority for 2010 and 36 percent will focus on developing current talent. The survey also indicated that 20 percent reported that increasing employee engagement is a top priority. Career development opportunities and efforts to increase engagement typically improve retention, which may explain why only 4 percent of senior leaders indicated they would be focusing efforts on retention.
The jury is still out on when unemployment will return to prerecession rates -- some reports predict it won't occur until late 2010. However, employers will need to take proactive steps now and look for ways to enhance employee performance and productivity.
"Performance management is one of the first automated tools that a company will choose when looking at a talent management suite of products, which also typically also includes tools for goal management, compensation planning, learning management, succession planning and 360 degree reviews," explains Lisa Hart, Human Capital Management product manager for Ceridian. "An automated tool provides a way to rank performance based on certain metrics that are defined within the company or by the employee's manager."
Performance management is an effective method for employers to grade their employees based on specific competencies as well as standards and metrics associated with their position. Before the advent of performance management products and services, however, performance reviews were not an exact science due to the limitations involved in using manual review methods. And some small to midsize companies are still reluctant to get their feet wet by switching from manual performance management processes to an automated tool.
"Manual processes have the tendency to be short-term focused, such as looking at performance within the past month or quarter," says Pramod Mathur, Ceridian's vice president of product management. "An effective performance management system provides accurate employee data that helps organizations find areas of weaknesses and strengths, which helps them better evaluate their employees' performance over time."
Key in on success
In an economy where companies are faced with difficult workforce decisions, companies must take advantage of a good performance management system.
"You really need to work the system in order for the system to work for you," urges Mathur. "A lot of people fail at that, especially if the system is more complex than what they are used to. If they have been using pencil and paper, it is difficult for them to make the switch to the system. Ceridian's idea with our newly released Performance Management Express solution is to give our clients a simple system to start with and then grow them into the more complex features."
Mathur also noted that companies already using an automated performance management tool may not use it effectively -- such as being overly conservative when entering data into the system or entering it at certain points in time rather than on a continuum. With Ceridian Performance Management Express, employee performance data becomes relevant and useful because the tool captures, monitors and reports on all employee goals as well as a company's achievements.
"A solution such as Performance Management Express can ensure goal alignment throughout the organization and show employees how their efforts impact the company's broader goals," adds Hart. "It is a proven fact that effective performance ties directly to an employee's bottom line revenue and helps them achieve their top performance goals."
The engine driving Ceridian Performance Management Express is built on the industry's finest streamlined talent management platform, powered by SuccessFactors. Performance Management Express provides employers and employees with a Web-based, intuitive yet powerful automated performance review system. Built-in best practices and no implementation fees mean companies can be up and running with state of the art automated performance review management at virtually the touch of a key. Contact your Ceridian representative to learn more about how we can help tailor talent management strategies for your organization.
