Business

Top 3 Performance Management Trends in Business

In 2018, performance management went through a major transition. Many businesses have now started to veer away from more traditional methods, paving the way for much simpler performance management systems. As we enter into 2019, there’s set to be new, exciting trends within the sector.
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Here, we’ll look at the top 3 performance management trends in business to watch out for this year.

  1. More focus on employee wellbeing

In recent years, there’s been a lot of interesting research carried out on employee wellbeing and performance. One of the most recent studies revealed that one third of workers within the UK, suffer from anxiety, stress or depression. Worryingly for businesses, 40% of workers have also needed to take time off due to mental health issues. So, one performance management trend which is set to really take off this year is focusing on employee wellbeing.

Identifying mental health issues early on and incorporating methods into the workplace to help employees deal with their issues, is therefore going to be key to enhancing their happiness and performance.

  1. Managers will start to handle performance management

While HR has largely dealt with performance management in the past, things are certainly starting to switch. Now, managers are starting to take over the performance management process, allowing them to quickly provide support, feedback and praise in order to improve employee performance.

Incorporating performance management into their daily schedules, means managers will also be able to address any issues early on.

  1. A focus on effectiveness

For years now, HR teams have known that employee engagement is key to loyalty and productivity within the workplace. So, that’s largely what they focused on improving. However, throughout 2019, it’s thought HR will now move away from encouraging more engagement, to actually focusing on improving effectiveness.

This will include, making sure employees are kept happy, and empowering managers to be more effective. Ensuring processes such as Payroll are reliable by using specialists such as Moorepay, is one thing that’s going to increase employee satisfaction. A focus on effectiveness, along with better wellbeing initiatives within the workplace, are going to really enhance performance within the company.

The above is just 3 performance management trends in business to watch out for this year. If your company hasn’t thought about performance management yet, no is definitely the time to do so. When done correctly, it can help to eliminate poor performance issues and encourage much better productivity.