With every passing year, evidence supporting the effectiveness of continuous performance management continues to mount. As a result, more businesses than ever are reassessing their performance processes. But overhauling performance management – something that impacts every single employee in the company – is no small task.
It’s safe to say that Continuous Performance Management is here to stay. In a relatively short space of time, it’s become the go-to model for companies looking to get the most out of their employees, improve engagement and decrease attrition.
The performance management revolution is well and truly under way. What was once a trickle has become a flood, with many businesses opting to replace traditional performance management practices with the development-driven continuous performance model.
The last five to ten years have seen nothing short of a revolution in the way organisations tackle performance management. During this time, the once universal annual appraisal has been replaced with a more modern, iterative approach – the continuous performance management model.
For many years, performance management was handled in the same way by organisations across the globe – the annual performance appraisal. This process saw employees sit down with their line manager once a year to discuss feedback, set targets, and ultimately receive a rating based on their performance.
Ascendis Pharma is a progressive Danish biopharmaceutical company which has experienced major growth over the past couple of years. The company has boomed after being listed on the Nasdaq stock exchange in 2015. They are now bringing their 160 employee strong company from start-up to grown-up, expecting to grow the company significantly over the next couple of years.
The Danish government-backed fund shows by example how to optimise their core HR processes and simultaniously prepare for GDPR compliance with a long-term investment in the CatalystOne HCM software platform.
In partnership with CatalystOne, a leading HR software vendor in the Nordics, Nordnet digitalised their HR processes throughout 2017. And today the hard work payed off as Nordnet and CatalystOne were announced as winners of "HR System Implementation of the Year 2018".
Having recently surpassed the first revenue milestone on a 5-year growth plan, increased the number of employees by 100% in 2017 – and at the same time managed to be ranked as Norway’s 6th best place to work on their first attempt – Nordic HCM leader CatalystOne Solutions has had a tremendously good year.
In the race for great talents companies are willing to spend vast amounts of money to attract and hire new employees, and now at the beginning of the year onboarding is in full swing. Or is it?
