These positive changes are offset by an area in which we see significantly less change – the quality of the CHRO’s team. Even CHROs who have aggressively upgraded other elements of their organization have hesitated to make the often-obvious talent changes needed in their direct reports.
After the most challenging four months for business in a century, many companies can start to focus their attention more than a few days in the future. This turn towards normalcy raises questions about how to manage and reward performance in such an unprecedented year. We suggest that there are no clear rules but that there is a logical approach that can guide how to best (re)-set goals and fairly evaluate at the end of the performance cycle.
It’s understandable that HR’s recent focus has been on employee safety and security. The function has responded admirably to unprecedented demands and unforeseen challenges. As we see the global situation starting to turn, it’s important to refocus our efforts on helping our companies to win through talent.
If you believe that having a growth mindset means that if you try harder you can accomplish more, you don’t need to read this article. We agree and the science in areas from self-efficacy to goal setting to motivation supports that exerting more effort often leads to better results. However, if you believe that growth mindset means that different outcomes in life will occur if someone has a Fixed Mindset or a Growth Mindset, or that it’s possible to increase one’s intelligence or change one’s personality, please keep reading.
Our experience shows that it’s not the usual suspects – troublesome technology implementations, challenging budgets, etc. – that undermine the success of HR transformations. The real culprits are both softer and far more controllable.
While the popular dialogue is focused on ratings, ranking and reviews, the power in performance management comes from great goal setting. Invest your time productively by building your organization’s capability to set fewer, bigger and more powerful goals.
It’s the missing foundation of talent management in most companies. Does your executive team agree about the best way to manage talent to achieve your business strategy? How do you know?
Companies can manufacture talent in the same way that they manufacture any other product – using a structured and disciplined production line.
Our experience conducting hundreds of talent reviews and building the process for complex global companies shows us that six factors create a successful talent review. We believe that it’s less about the tool and more about the process.
The secrets behind HR success lie beneath the organization design. How you bring that structure to life, through the people within it, will differentiate your success far more than the design ever can.