New advances in technology, evolving business models, globally dispersed workforces and changing demographics are all influencing how we work today. Yet most performance management strategies remain quite traditional — a time-consuming, rigid annual effort with an uncertain ROI.
A new era for performance management
Your leaders and employees are seeking the opportunity to take ownership of their roles in driving organizational results. Willis Towers Watson can partner with you to enhance your talent value proposition (TVP), design performance management processes that reflect your desired culture and implement strategies that help your people drive accountability and boost performance.
Our solutions include:
Performance management strategy
Improving business performance involves developing a systematic approach to aligning performance outcomes with organizational goals. We can help you define performance measures that are truly reflective of your organization's unique culture and industry in order to drive the desired behaviors.
Performance management design
With the changing nature of work and how work gets done, companies have an opportunity to reimagine performance management program design and processes. We help you design your performance management program across key design elements, including objective setting, ongoing feedback and assessment. What worked for your organization in the past likely won't be impactful in the new world of business.
Performance management program audit
To make performance management more effective, it's important for employers to focus on the core enablers of performance and create an environment that fosters a positive employee experience. We can review your existing programs, link them with your performance and reward strategy, and recommend technological solutions that drive more continuity and efficiency.
Performance management training
Many employees have a poor perception of performance management due to a lack of manager capacity and capabilities. We partner with the business to ensure leaders and managers have adequate training and their contributions are recognized so they'll be empowered to focus on activities that promote high performance and continuous improvement.
Delivering value to employees and employers
Organizations that offer a positive performance management experience are more likely to have employees who are highly engaged. Our 2016 Global Workforce Study found that over half of employees (58%) who say their performance review helped them improve their performance are highly engaged, In addition, 55% of employees who indicate their performance was accurately evaluated in their last review are highly engaged.
Another positive outcome of a modern performance management strategy is the ability to differentiate rewards for key employee segments, which supports pay-for-performance programs. These programs are a critical component of an evolved TVP and essential to attracting, retaining and engaging top talent — a win for employees as well as employers.
Ready to modernize your performance management strategies and programs?
Let's work on it together.