Social performance management may address the collaborative needs of modern businesses in a way that employees enjoy rather than fear. There are few rituals as universally dreaded in companies as the performance review. While reactions range from being merely annoyed by the process to detesting it, overall the traditional annual review—like some of the employees gauged by it—consistently fails to meet expectations. Managers complain about how time-consuming performance reviews are. Meanwhile, employees are unsatisfied with the paltry feedback and support they receive and the lack of a line of sight between their goals and the broader objectives of the organization. Many workers—particularly those among the feedback-conditioned Millennial generation—want more-frequent dialogue about their performance. As the workplace evolves, we need to find new processes that support contemporary business challenges.
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Agile Performance Management
In fact, even people who can talk about the three terms often refer to them incorrectly, mistakenly naming one when they mean another. Performance Management focuses on leadership, development and the performance of the people within a given organisation. It arose from a need to make the workplace more efficient. By encouraging communication to promote organisational alignment in both production and mindset, it was theorised that monetarily measurable improvements in company performance would take place. At the time of its conception in the s, Performance Management was novel in theory but crude in practise, constrained by both technological and cultural limitations. However, its importance cannot be understated as it forever changed the philosophy of running a business. No longer were managers and employees to remain isolated from each other. Their interaction was to be encouraged, albeit on a very limited basis, through new schemes like the yearly performance review or the annual company picnic.
Integrating the power of social networking into the modern workplace is a process that has only just begun. The near-future result will be a complete makeover of the way modern corporations work. Traditional management styles and hierarchies will give way to a new way of doing business that is chaotic, collaborative, highly productive and very fast. Social Performance Management is new enough that many executives are still unfamiliar with the term. The power of SPM will be impossible to ignore, resist or undo. SPM is the future of workplace productivity, and the future is arriving now. The first SPM providers began popping up five years ago.
EIN: Through SPM, we are expanding our collection of data on who we serve and how their lives are changing. That data is then analyzed to assess how well we are aligned in our mission and how we can perform even better. As part of the SPM process, we have adopted the Universal Standards for Social Performance Management, a set of industry best practices that help us continually define, monitor and improve our social goals. Discover more in our most recent Social Performance Management Report. When you sign up to receive email from Opportunity International, we'll keep you informed with updates, news, and stories from our work around the world. We will never sell, rent, or exchange your email address with a third party. Make a difference by creating jobs through the work of Opportunity International. You'll complete your donation on a separate page.