Insights for What’s Ahead

• With a more diverse workforce that goes beyond just full-time employees, and with the nature of work changing, companies need to adjust their performance management systems to respond to the evolving needs of their organizations and the expectations of their workforces. Introducing changes step-by-step through a more gradual approach rather than a more revolutionary one has proven to be an effective way to manage these changes.
• Developing a culture of continuous feedback creates a more effective performance management system, but it takes time to develop. Companies need to equip both managers and employees to give and receive more open and candid feedback. One approach is to promote regular conversations focused both on performance, personal development, and employee well-being to strengthen trust between managers and employees. Consistent and clear feedback helps create a pattern of learning and growth for employees.