Performance Management in 2020 | Talent Strategy Group

Talent Management

As organizations continue to determine 1) how and if they should adjust performance goals and, 2) how and if they should adjust how they evaluate and reward employees, in response to the coronavirus pandemic, this article by Marc Effron provides guidance. And while there are several insights in the article, a central premise is that organizations will fall into 1 of 3 categories, and each category should help guide organizations to make PM decisions that fit their situation rather than simply adopt what other companies are doing. The three categories include: 1) Damaged: the company is in an industry (e.g., airlines, hotels, restaurants, etc.) that have suffered severe, long-term damage from the global shutdown. It will not recover or be on a clear path to recovery by the end of 2020. GUIDANCE: It’s an “all bets are off” situation companies in this category. Restart goal process and likely adjust the what/how to balance when they evaluate results. 2) Challenged: the company is in an industry (e.g., manufacturers, portions of retail, professional services, etc.) that temporarily lost a meaningful percentage of its revenue, but it will be able to mostly return to business as usual in the 2nd half of 2020. GUIDANCE: These companies need to walk the fine line between adjusting goals when warranted and giving a free-pass where existing goals are still valid. 3) Fortunate: the company is in an industry (e.g., health care and pharmaceuticals, technology, etc.) that either experienced little impact or thrived during the shutdowns. GUIDANCE. These companies need to manage expectations for evaluating performance in a strong year that they had no part in creating. Aside from the “process” side of PM, there is also the human element that must be factored into decisions. There have been job losses, the strain on emotional and physical wellbeing, and the stress of working at home while caring for children, to name a few. These factors need to be considered when determining how to handle PM in an unprecedented year. Said differently, “2020 will need to be a year where the crisp lines of meritocracy are balanced with the unique challenges that individuals have faced.”

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