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Performance management audit

Make it better and make it matter

Performance management audit Make it better and make it matter

Performance management audit

Make it better and make it matter

It’s clear that performance management isn’t working: Close to half (46%) of employers in Asia said that they were not satisfied with their performance management process, according to our 2015 Talent Management & Rewards Pulse Survey. However, most organisations do not know what is wrong, and therefore they are not sure how to fix it.

Performance management is not delivering the way it should

Both managers and employees like to see changes the way performance is managed

employees like to see changes the way performance is managed Only 42 % managers and 36

Only

42% managers and

36% employees are generally satisfied with

the performance management process.

60%

feel they spend too little time on important activities e.g. ongoing conversations with employees and collecting feedback from colleagues.

But companies struggle to figure out how to improve the process

Trends shaping the future of performance management

29%

Companies have no formal measurements to gauge the e ectiveness of their performance management process

the e ectiveness of their performance management process Spend more time on the right activities (discussions,
Spend more time on the right activities (discussions, calibration) Focus on improving manager capability and
Spend
more time
on the right
activities
(discussions,
calibration)
Focus on
improving
manager
capability and
Change
performance
management
from once/twice
a year to
ongoing
e
ectiveness

31%

Companies report that line managers do not see the value in the performance management process

Source: Willis Towers Watson 2015 TM&R Pulse Survey – Asia Pacific

Core Te chnical competencies competencies KPIs Performance Management Reward Development Training Promotion/
Core
Te chnical
competencies
competencies
KPIs
Performance
Management
Reward
Development
Training
Promotion/
Succession
decisions
plans
needs
Progression
planning

The importance of getting performance management right

Performance management is essential for effectively managing the talents in your workforce. Having the right performance management process will enhance the entire talent cycle and facilitate employee motivation, development and growth.

Proven business case to get it right

Performance management and manager effectiveness are closely linked to the top talent engagement and retention drivers, including relationship with supervisor, goals/objectives, and career advancement.

 

Engagement

 

Rank

Drivers

Retention Drivers

   

Relationship with supervisor/

1

Empowerment

manager

2

Image

Career advancement

3

Supervisor

Base pay/salary

   

Trust/confidence in senior

4

Communication

leadership

5

Goals & Objectives

Caliber of co-workers

Source: Willis Towers Watson 2014 Global Workforce Study

A Performance Management Audit helps organisations to identify the gaps and opportunities in their current performance management approach

A Performance Management Audit is a review of existing process and program elements to identify opportunities for improvement, and help devise a set of ideal performance management guiding principles going forward.

Our Performance Management Audit packaged solution includes a review of 13 key elements of performance management:

Design

Process

 

Link to Business

1. Performance measures (e.g. competencies, KPIs)

5. The entire performance management cycle

9.

Analysis of the goal setting process

(goal-setting, feedback and evaluation)

 

2. Performance category definitions (e.g. meets, exceeds)

6. Compliance (degree of adherence to and the quality of the process)

10. Comparison of individual goals versus organisation’s strategy

3. Mechanics (e.g. rating scales, weighting)

7. Manager capability and effectiveness in managing performance

11.

Year-over-year comparison of performance improvement for annually measured components

4. Historical distribution of performance ratings across organisation/divisions (rating differentiation)

8. Current forms/technology used throughout the process

 
 

Link to Rewards and other HR Programs

12. Link to compensation and other rewards across the organisation

13. Comparison of performance ratings and merit increases

Combined with Willis Towers Watson research and experience, we will present a holistic heatmap for each area and detail current strengths and opportunities:

we will present a holistic heatmap for each area and detail current strengths and opportunities: Sample
Sample Outputs
Sample Outputs

The way forward

After identifying the strengths and opportunities for improvement, we can assist in redesigning the overall performance management program, such as:

ƒƒManager training

ƒƒScorecard development to cascade business objectives throughout the organisation

ƒƒReward program redesign to link to performance

ƒƒImplement performance management technology platform

Essentially, we help take your company through the transformative journey to achieve the ideal state
Essentially, we help take your company through the transformative journey to achieve the ideal state of performance
management.
Partnering with you
along this journey
Transitional
Transformative
Transactional

The Unique Willis Towers Watson Approach

Proprietary

Market Data

Communication and Change Management
Communication
and Change
Management
Global Industry Consulting Technology Experience Expertise
Global Industry
Consulting
Technology
Experience
Expertise

About Willis Towers Watson

Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 39,000 employees in more than 120 countries. We design and deliver solutions that manage risk, optimise benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.

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Further information

Please contact your local Willis Towers Watson consultant or

Wen Wan wen.wan@willistowerswatson.com

Further information Please contact your local Willis Towers Watson consultant or Wen Wan wen.wan@willistowerswatson.com