The 360° Feedback method has been around for about 30 years in business, as an annual and static review process. However, we are now in the Digital era. Work has changed. Not many processes take a year. We cannot afford to do so. We need rapid and continuous change. As a consequence we need to learn new skills and competencies. Do we have the talent and potential to do so? We’re wondering about its implementation in today’s digital era.
In the Digital era much of how we work has changed. Much attention is brought to the concept of feedback nowadays. We work in a network of teams and in different roles. Also, we need to learn and acquire new skills quickly. For that you need continuous feedback.
Performance management is an essential tool for every organization as it ensures that the company’s goals are met adequately. As an umbrella term, performance management focuses its attention on many things, including the whole organization, a department, an employee, or even the process of building a product or service, among many other things.
Many organizations are looking for digital leaders who have an understanding of different technologies, business functions, and industries, along with impeccable interdisciplinary skills. These digital leaders can manage teams that include full- and part-time workers and can drive a company culture of continuous improvement and learning. They take risks and embrace innovation. However, not many organizations have moved quick enough to cultivate this kind of leaders. Fostering them is especially important for organizations undergoing IT and business transformation.
Today’s workplace is changing almost beyond recognition. The traditional model of rewarding an employee with life-long employment is no longer the norm, nor is a strict hierarchical system. In today’s world, information is available anywhere and at any time. New networks of teams are being created to adapt to this trend, and the most sought-after talents are adaptability, agility, and the motivation to learn and grow steadily.
HR technology is evolving like never before. From talent analytics to assessment science, social and referral recruiting, mid-market core HR systems and online learning, new and improved tools are helping HR teams better manage employee communications, recognition, engagement and overall wellness in the workplace.
A business is an organism. It is small when brought to the world and requires much attention and nurturing to maintain and thrive. However, as it grows, the system and culture behind it become stronger and more complicated. In its growth essence, knowledge and experience are what businesses use as food for growth. To be able to learn quickly is the best tool that leaders can use to manage their companies.
Technological advancements brought major shifts to the way people lead their businesses. This landscape is also expected to change greatly over the next decade. However, we should not get too stuck into these transformational aspects of the tech itself.
No matter how difficult it may be to hear the truth, everybody wants to know it. But we humans are contradictory beings because we don’t look on those occasions with much pleasure, even though we want a direct and honest feedback.
The age of annual performance review is long gone. It is a traditional model of performance engagement that doesn’t work today when it comes to increasing the engagement among the Millennial generation of workers. We feel like in the dark or blindsided without continuous feedback.