Over the last two days I have been running a workshop in Zurich on talent management with senior HR folk from some of europe’s top companies. I think the session went well. Innes did a fabulous job organising….
No one left early, and they all promised to come to the next one! Once I have got my thoughts together I’ll post something vaguely coherent about it…. There is alot of cool stuff going on at the moment, especially in the performance management space.
I found this quote this morning, and I wish I had found it earlier. It would have made for a great discussion topic.
Leaders need to put their money where their mouths are and let HR do its real job: elevating people management to the same level of professionalism and integrity as financial management.
He stresses the need for a strong performance management system.
They make the company better, first and foremost by overseeing a rigorous appraisal and evaluation system that lets every person in the organisation know where he or she stands, and monitoring that system with the same intensity usually applied to Sarbanes-Oxley compliance
Read the full article here.
Let me know what you think. I’ll be including Jack (well his quotes) in my next meeting.
just as I posted this, I then found this survey from workforce.com (v useful HR site)
IDC says spending on software and services for performance management in 2005 was $973 million and forecasts that spending will reach $1.8 billion by 2009 growing at a compound annual growth rate of 16 percent.
Apologies for the long cut and paste
Some key findings of the survey:
4The happy respondents are not all that happy: Only 5 percent of the respondents are very satisfied overall with how performance management is handled in their organization; 41.5 percent are somewhat satisfied.
4The highest level of satisfaction—66 percent—is with how the performance management process identifies top performers. The second-highest level of satisfaction—just under 66 percent—is in goal setting. The areas respondents saw as most lacking are the performance management system’s integration with succession planning, and performance management as a tool for retention.
4Nearly 65 percent of the organizations say their performance management systems employ only a little automation. 4Of those that are formally automated, 21 percent are using their enterprise resource planning system or HR information system to manage performance. The remainder are using either a separate “best-of-breed” system, such as SuccessFactors, or a best-of-breed system that’s part of a larger talent management suite, such as those provided by companies like Softscape or Workstream. (Best-of-breed performance management vendors focus exclusively on offering performance management or performance management in conjunction with other performance-related talent functions such as succession planning.)
4Of those not automated today, nearly 45 percent plan to make a change in the next 12 to 18 months. 4Of those that are automated, 26.5 percent say they plan to change their system in the next year or so. That’s a situation indicating “ample room” for performance management vendors who want to court new customers. Rowan says the level of dissatisfaction with the current performance management processes and the market opportunity it represents are the two most striking points in the survey.
Opportunities and unknowns
If best-of-breed companies see golden opportunities in the dissatisfaction among respondents, they may be in for a shock: Nearly 57 percent who say they are going to automate their system plan to use their ERP or HR information system to do so. Only 6.5 percent plan to go for a best-of breed system.
We have some work to do on our performance management solution, especially on ease of use, but it looks like things like Duet, Muse and Webdynpro are giving customers the options to make their performance management apps look how they want. As more global customers leverage these tools, I except us to give the best of breed guys a really tough time. We need to apply all that SOA and Netweaver stuff to some core business processes like performance management.