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  Performance Management-'DISCOVER Framework for unlocking high-performance.' The world is changing rapidly, and the future of work is intriguing. With a workforce that includes Gen X, Millennials, and Gen Z talent, performance management in the next decade will require a different approach than in the previous decades. They're not just buzzwords anymore: agile, ,continuous feedback, human-centered design, data-driven design Emergence and rapid expansion of new-age businesses are reshaping workforce expectations. The mature organizations are reinventing themselves; globally distributed teams are quickly becoming the norm. A significant change in how organizations and their leaders have managed performance for the last decade is required to unlock performance management for the next decade. Performance is a function of ability, motivation and environment. That means, that one’s performance is dependent on his or her ability, inner motive to work, environment conditions like ...

  50 and going strong: The journey from 'mid-life career crisis' to 'mid-life career opportunity The employees in their 50s are not necessarily sitting back and preparing for a relaxed life after retirement. Many wish to explore new careers, some wish to work longer and for some working for more years is more of a necessity, given the increased life expectancy. So, what does this mean for business and HR? Research shows nearly a third of those aged 50-65 are unemployed. A million of them lost their jobs due to layoffs, caring responsibilities, or illness. Whereas the trend is most prevalent in western countries like the US and UK, many Asians in their 50s experience a mid-life crisis, such as in Japan, Singapore, and India. Some are tired of working for years and want a break, while others want to keep working but try something new. Retirement has evolved dramatically over time. In the 50s, people are switching careers and looking for new employment opportunities for anothe...

    What HR Can Do Now and After the Pandemic to Improve Employee Wellness The COVID-19 pandemic has increased the impact of work on personal lives. Stress from the financial crisis, widespread layoffs, and high unemployment have increased. Creating and maintaining positive and supportive relationships with coworkers has become more difficult when working remotely. Due to the lack of entertainment and socializing options, many people who work from home feel like they live at work. Recent research conducted by Oracle and Workplace Intelligence found that 2020 was the most stressful year people have ever experienced in their working lives. 78% of the employees surveyed said that the pandemic has negatively affected their mental health and 85% reported that new work-related stress is affecting their home lives. Companies must identify their overarching cultural challenges and design holistic support systems that address specific forms of stress and...

  The Hidden cost of employee turnover Employee turnover is costly, negatively impacts business performance, and is difficult to control. Unfortunately, some businesses underestimate the true cost of employee turnover. Some of these costs are immediate while others are long-term. Here are five hidden costs of losing employees, as well as steps to avoid or mitigate these losses. 1. Turnover can damage  employer brand All organizations must deal with turnover. The way they manage it makes a big difference in how employees, partners and customers perceive it. 2. Company may lose valuable knowledge and relationships Each of  employees builds knowledge over time that’s unique to them and helps the company. For example, a sales team that loses a key player also loses the detailed knowledge that employee had about: Customers’ needs Budgets Contact preferences   "The financial costs mainly involve the cost of people’s time, cost of materials and...

  Reasons for high employee turnover Change is inevitable, but it can be costly for business. Employee turnover is an element of change that directly affects the bottom line. As such, it is important to identify the motives of departing workers and devise an effective retention strategy. Organizations that compete globally aim to gain a large market share, but it depends on less employee turnover and more loyalty, which is associated with hard work, productivity, and high quality (Al-Kahtani, 2002). Here are turn over predictors many good employees resign: Turnover Predictor: Stress Stress makes people leave their jobs. Highly stressful environments usually involve more turnover than environments with less stress. Stress factors explain up to 9% of turnover. Indicators are: Role clarity Role conflict Role overload Overall stress ·           Turnover Predictor: Job content Job content is all about how people experience their job. Routinization Promo...

  Upskilling and Reskilling – The Future of Workplace Recent surveys indicate that new skills and organizational knowledge sharing are critical for tackling the skills revolution. HR leaders will need innovative solutions for upskilling. The post-pandemic, 21st century workplace demands a new strategy for HR. According to The Wall Street Journal, “The novel coronavirus pandemic led to a reworking of the economy unlike any other since World War II.” This requires an innovative response from HR professionals in business. Innovative strategies are needed in order to address these issues. New strategies should include previously under-explored options. What follows are four strategies for  consideration. They are not prescriptive, rather these recommendations are meant to spur further thought.  In order to adapt to these unavoidable shifts in the workplace, talent upskilling to keep up with digitalization trends is becoming more important than ever [Ramasamy, 2018]. 1....

What is Learning and Development? Learning and development is a systematic process to enhance an employee’s skills, knowledge, and competency, resulting in better performance in a work setting. Specifically, learning is concerned with the acquisition of knowledge, skills, and attitudes. Development is the broadening and deepening of knowledge in line with one’s development goals. “The goal of learning and development is to develop or change the behavior of individuals or groups for the better, sharing knowledge and insights that enable them to do their work better, or cultivate attitudes that help them perform better (Lievens, 2011)”. Learning, training, and development are often used interchangeably. However, there are subtle differences between these concepts, which are shown in the table below.  The most important thing HR can give an employer is a company that wins in the marketplace. The question is, what are the learning and development strategies that help to do this? ...

  Future leaders are heavily reliant on analytics. To maximize the value of this flood of data, companies must use data analytics and artificial intelligence (AI). Employers are always looking to make more data-driven decisions, but industry leaders have only scratched the surface. Data and AI can do a lot for employees in terms of career and life goals. Employers will find ways to channel personalization in an effort to attract and retain talent. By analyzing the right data sets, employers can offer employees benefits that are tailored to their specific needs, increasing employee engagement and satisfaction. Companies can now design effective learning and development activities that cater to the needs of individual employees. The cloud-based learning management systems help employees collaborate, create communities of interest, and engage in mobile education whenever and wherever they want. Employers will find value in moving away from a ‘one size fits all' approach. Sustained eff...