Over the past 5 years, organizational trends in Performance Management have significantly impacted the way we solution Oracle Fusion Performance Management for our client organizations. Since more and more clients have become unhappy with the rigidness of their current Performance Management process and solutions, Apps Associates has been challenged to think “outside the box” during the discovery and design phases of a new or existing Oracle Fusion Performance Management implementation.
According to a case study conducted by Deloitte, annual performance goals are too “batched” for progressive organizations and conversations about year-end ratings are generally less valuable than real-time or ongoing conversations about the employee’s actual performance. The study also found that Business Leaders within organizations similar to Deloitte are spending over 2 million hours a year on the entire Performance Management process which consist of completing forms, creating ratings and conducting meetings. As a result, 58% of Business Leaders in leading organizations do not believe that their current Performance Management strategy and process drive high performance or employee engagement. There is a tremendous need for a Performance Management strategy and process that supports a more real-time, nimble and individualized approach – an approach that directly fuels performance in the near future versus wasting valuable time on assessing the past.
To tackle this issue, HR Business Leaders Executives have adopted and implemented a new approach to Performance Management within their business organizations. This new approach consists of a fast paced, individualized, one-size-fits-one approach to evaluating and managing talent within the organization. Instead of mid-year and annual performance reviews, Business Leaders are encouraged to conduct Quarterly Connections with their direct reports. These Quarterly Connections are future focused and promote an environment of constant learning and ongoing feedback.
To support this new approach, Apps Associates has designed the Oracle Fusion Performance Management solution so that there are no cascading objectives, no annual performance reviews and no 360-degree feedback sessions. Mostly importantly, the solution has been designed to support a “No Rating” model approach to Performance Management. This approach promotes snapshots of an employee’s performance at the time each Quarterly Connection. These Quarterly Connections, in turn, allow Business Leaders to set expectations for the upcoming week, review priorities and comment on recent work while providing feedback on course correction. Please contact me if you are interested in learning more about Oracle Fusion Performance Management and this unique approach driving to high performance within your organization.