Talent Management Needs Improvement
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Insights from Betterworks Research
Managers Say Their
Your business needs to grow and innovate
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Your workforce is your company’s single largest expense
3Paycor
70%...and its largest asset
Improving productivity comes down to how businesses organize, develop and align people at work
Deloitte’s Global Capital Trends - 2017
Pro
du
ctiv
ity
Time
Business productivity
Technology change
Gap in productivity
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of HR pros agree there is solid evidence linking employee engagement to performance
5HR.com: State of Employee Engagement 2019
90%
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Gartner: Get Ready for the Convergence of Employee Performance and Engagement
Gartner is predicting the convergence of Employee Performance and Engagement
Goal Management
Frequent coaching sessions
Social feedback and recognition
You need a workforce who:
Is Agile, Aligned and Working on What Matters
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Less than half of managers feel good about the state of goals setting and alignment
Just 41% said that “all of the people at their business had a clear understanding of the company’s mission and vision”
Just 40% said that “corporate, departmental and team goals are transparent and shared openly at all levels of the organization”
Just 42% have a way to measure goal alignment on an ongoing basis
Just 38% said their organization communicate goals and priorities very clearly so every employee knows what they are accountable for
41% 40% 42% 38%
Betterworks Research: Managers Say Their Talent Management Needs Improvement
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MIT Sloan: With Goals, FAST beats SMART
Specific, ambitious goals lift individuals and teams to elite performance levels
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Effective Performance Management starts with Agile Alignment to Top Priorities
Source: Betterworks 2018 State of Continuous Performance Management
Aligning everyone’s goals is critical to business growth
Cross functional goal visibility allows teams to work more
effectively together
Cross functional goal alignment is critical for
business growth
In my company, our priorities can change quickly and it is
important that we quickly re-align
% S
tro
ngl
y A
gree
< 1,000 Employees 1,000 > Employees < 1,000 Employees 1,000 > Employees < 1,000 Employees 1,000 > Employees < 1,000 Employees 1,000 > Employees
50% 62% 51% 64% 49% 59% 42% 55%
Larger enterprises need this alignment more
91%agree employee performance is enhanced when employees and managers create goals together
82%agree team members who have more frequent conversations with their managers perform better
89%agree goal alignment requires conversations between managers and employees
More Conversation is Necessary
11Source: Betterworks 2018 State of Continuous Performance Management
You need a workforce who:
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Is always Improving
Managers just aren’t having these important conversations
have regular discussions with employees about their career growth and aspirations
Only 43% are “held accountable for developing their people”
37% 43%
Betterworks Research: Managers Say Their Talent Management Needs Improvement
There is a huge disconnect at the top...
People managers are held accountable for developing their people
Senior Leaders
First line% Strongly Agree:
51% 37%
Betterworks Research: Managers Say Their Talent Management Needs Improvement
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McKinsey: Harness the Power of Performance Management
68% say on-going coaching and feedback has the most positive impact on individual performance
You need a workforce who:
Is getting and giving peer feedback and social recognition
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Source: Deloitte Human Capital Trends 2019
31% operate almost wholly in teams while 65% perform some of their work in teams
Your Workforce Needs:
Alignment Progress Development Recognition
Everyone’s work is agily aligned to the company’s top priorities for sense of purpose
Progress is encouraged through check-ins and regular coaching and feedback
Personal development is prioritized with a focus on building skills for the future
Business impact is recognized and rewarded by their peers and managers
Intuitive, seamless and social
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Continuous because engagement isn’t a one time event
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Companies with continuous performance management...
... outperform on their company’s top goals
+50%higher than companies with annual programs
Source: Betterworks State of Continuous Performance Management 2019-2020
+26% effectively communicate goals
+23% align workforce to top priorities
... communicate priorities and align their workforce better
Source: Betterworks State of Continuous Performance Management 2019-2020
+32% better able to communicate progress toward those goals
... effectively staff cross functional teams
+42% staffing the cross functional teams to address top priorities
Source: Betterworks State of Continuous Performance Management 2019-2020
... effectively communicate progress toward goals
+32% effectively communicate progress toward goals
Source: Betterworks State of Continuous Performance Management 2019-2020
... successfully hold individuals and teams accountable
Source: Betterworks State of Continuous Performance Management 2019-2020
+42% hold individuals accountable
+34% hold teams accountable
... are more agile and solve problems more creatively
Source: Betterworks State of Continuous Performance Management 2019-2020
+36% agile and adapt to changing business req
+35% able to solve problems creatively
... attract and retain top talent more effectively
Source: Betterworks State of Continuous Performance Management 2019-2020
+39% attracting top talent
+44% retaining top talent
... develop the entire workforce at every level
Source: Betterworks State of Continuous Performance Management 2019-2020
+40%developing the workforce at every level
... develop better people managers
Source: Betterworks State of Continuous Performance Management 2019-2020
+44% supported by HR to become a better manager
+50% HR supports them in managing the performance of their team
+40% say their HR teams are “excellent”
Your continuous performance program creates the employee experience that sustains an engaged workforce
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Continuous performance management is not doing the same heavy, annual process more often
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Continuous performance management is a guided cycle of lightweight conversations
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HR agrees managers have an outsized role in retaining top talent
86%Agree that team members who have more conversations with managers are more likely to stay with the organization.
90%Agree team members need to feel comfortable about talking with managers about both work and life.
Source: Betterworks 2018 State of Continuous Performance Management 33
Managers also recognize their relationship with team members is important
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72% 88%Know their team wants to be able to talk with them about both work and life
agree their relationship with a direct report has a direct impact on the employee’s performance
Source: Betterworks 2018 State of Continuous Performance Management
Trust is Needed Between Managers and Employees
HR agree team members
need a positive relationship
with manager
92%
Source: Betterworks 2018 State of Continuous Performance Management
of HR pros rate their managers as average or worse at giving quality feedback and delivering it at the right frequency
Source: Betterworks 2018 State of Continuous Performance Management
50%
Managers Struggle To Provide Feedback
89%agree their boss would say they do a good job coaching or mentoring
76%agree are confident that they know how to best coach their team
87%agree with the statement, “I am a good coach”
Managers give themselves high marks as managers
37
And the bigger the team the manager has, the higher marks they give themselves
Source: Betterworks 2018 State of Continuous Performance Management
HR Pros disagree...
38
Just
27%Strongly agree their managers do a good job coaching and developing their teams
29%Strongly agree their managers know how to best coach their team
29%Strongly agree employees find their manager’s coaching and feedback helpful
32%Strongly agree employees all have development plans
Source: Betterworks 2018 State of Continuous Performance Management
#motivateyourworkforce
Betterworks is the complete solution for Continuous Performance Management
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Calibration, Succession, Promotion
Productivity
Engagement
Career Growth
Culture
Insights
Goals/OKRs
Conversations
Social Recognition
Confidential HR Questions
Competency Assessments
Feedback
Betterworks powers your unique continuous performance program so it delivers needed business results
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Intuitive and seamless
HRISProductivity/Communications
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With You Every Step of the Way
100% invested in the your program’s success
Best practices for program design and roll out
Customized for your unique organization
Industry leadership and innovation
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Josh BersinGlobal industry analyst;Dean, Josh Bersin Academyand Betterworks Board of Directors
How people work within and for enterprises is evolving quickly and growing ever more complex. Organizations of all sizes and industries need to uplevel their talent and performance management practices in order to remain competitive.
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#motivateyourworkforce
QUESTIONS?
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Tech is necessary for effective continuous performance management
Source: Betterworks State of Continuous Performance Management 2018
Less than ½ of HR pros are using tech for their performance management
In companies with continuous performance programs, HR asks for more from their performance management technology
Source: Betterworks State of Continuous Performance Management 2019-2020
Able to be configured to for their company’s unique needs (+58%)
Seamless for employees -- in the flow of work (+75%)
Help with program design (+74%)
Help with training (+38%)
Help with change management (+34%)
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Source: Deloitte Human Capital Trends 2019
On Internal Mobility: more than 50% thought employees would have an easier time finding a new job with a new employer than within their current organization