If you’re a new CEO, you may be tired of hearing that you’re taking the helm in unprecedented times. However, it is impossible to deny the truth behind the sentiment. CEOs in 2021 are navigating new ways of working in the form of hybrid and remote models and often leading teams who feel physically and emotionally exhausted.
One of the most effective ways to boost morale and motivate employees is to embrace agile performance management. Agile leaders recognize their team members as people rather than simply employees and seek to develop an organization that harmonizes business and personal goals.
Here, we examine the core trends affecting workplace performance in 2021 and suggest ways you can get the most out of your staff and your business moving into 2022.
Use a whole person view of your team members
Viewing team members as “employee X” and “employee Y” as well as being terrible for morale, isn’t conducive to talent retention, productivity, or profits. With increasing numbers of millennials seeking both personal and professional fulfillment from their careers, the CEOs of 2022 (and beyond) need to have a holistic view of their employees.
According to Gartner’s research, companies that support employees with achieving work-life balance have a 23% increase in employees reporting good mental health and a 17% rise in staff members reporting better physical health.
Even the most profit-driven CEOs may be interested to learn that research from Oxford University found that workers are 13% more productive when they report feeling happy at work.
Annual appraisals are outmoded
Let’s face it, the trend of giving employees feedback on their performance in a one-off meeting every year needed an overhaul long before the pandemic. These meetings often achieve little and are dreaded by the employee who may feel too nervous about processing the points being raised or candidly discussing their career goals.
Perhaps more worryingly, figures cited by Forbes revealed that 80% of time spent in current appraisals is focused on discussing past events. Adopting a practice of agile performance management could be much more effective instead.
Under this model, leaders and their direct reports engage in the process of continuous feedback (or the gap between feedback sessions is drastically reduced), with the focus shifting to projects happening in the moment and ways in which the employee can contribute to the company’s future goals.
Encourage managers within your business to give regular one-to-one updates on their team’s performance. The frequency of these meetings will depend on your organization, but remember that not all feedback needs to come from the top. A survey of the CareerPoint coachees found that 75% of employees preferred quarterly career appraisals.
Encourage all members of your team to recognize and praise a strong contribution when they see it, regardless of whether or not they are that person’s manager.
Future proof your business by standing behind a cause
When it comes to driving performance among Millennial workers, leaders need to understand the social causes their staff feels passionately about and, more importantly, the intersection between these values and workplace performance.
According to Gartner, the number of employees who were considered highly engaged increased from 40% to 60% when their employer responded proactively to social issues.
It’s no longer enough to say that your company cares about protecting the planet. You need to demonstrate how your business actively promotes sustainability and attempts to lower its carbon footprint.
Having high-performing and engaged workers is perhaps the most crucial ingredient in ensuring your business thrives following the turbulent events of the past 18 months. Being willing to embrace new ways of thinking is undoubtedly the first step on the road to innovation.
CareerPoint coaching can help your team members prepare for performance reviews, recognize that career advancement isn’t always about a promotion, and how the value they drive at works impacts their advancement opportunities.
Ready to take your team to the next level? Book a 15 min discovery call