Global Human Capital Trends 2014
CEOs and HR leaders see talent as a major challenge to growth. Where should you focus? Our survey of 2500+ leaders in 90+ countries reveals 12 critical trends shaping the human capital agenda.
Talent 2020 is Deloitte’s global survey series conducted to explore talent strategies and unfolding trends that are expected to influence the next decade and beyond. The series features results from large businesses worldwide in the Americas, Asia Pacific, Europe, the Middle East, and Africa.
The performance management puzzle
Some say traditional ways of managing employee performance are irrelevant in today's fast-changing work environment. Others argue that these methods drive accountability and differentiated compensation. Both are right.
Current performance management systems are receiving a failing grade. Yet, year after year, managers fill out goal forms, track progress, conduct a formal annual assessment, and then fill out more forms. But when it comes to motivating and engaging people, these conventional processes seem increasingly obsolete.
While the way work gets done has changed dramatically over the last few decades, most performance management processes have remained essentially the same. In this new world of work, team relationships often influence an individual’s performance more than a supervisor. For team members, on-the-spot improvements based on immediate feedback from their peers can have a big impact on performance. Plus, the fiscal year is increasingly becoming less relevant as goals are increasingly tied to project. Add in the matrix organization, and performance management can turn into chaos.
What has not changed is what leaders and employees want from performance management: A broad view of the organization’s human resources and a fair and valid assessment process, respectively. To achieve these somewhat paradoxical goals, some leading organizations are ushering in a new era of workplace democracy and leveraging social tools to access in-the-moment feedback. While no single answer has emerged, the search for innovation in performance management is accelerating.
Life at Deloitte
People make Deloitte one of the best places to work. What’s great about the people? That’s an easy answer. They are exceptional. Each person is unique and valued for that, among the best and brightest in the business, and takes pride in his or her achievements and the success of others.