Trends In Performance Management! Even though we’re not that far into the new year, it’s always good to check up on how predicted trends are going. We had our ideas of which trends would garner the most attention for the new year, and it’s amusing to see where we stand.
What predictions are panning out the way we thought, and which ones completely blindsided us? In this article, we’ll take a look at what the top trends are for the first quarter of 2022.
The following section contains the hottest trends in performance management heading into the second quarter of 2022.
1. Millennials for the Win Again
This is nothing new and can hardly be considered a “trending topic” because it’s been trending for several years now. We just thought it was worth pointing out that millennials seem to be pushing toward another win for 2022.
Millennials have single-handedly forced entire organizations to switch their structures and workflows to match the versatility and value that this generation of workers has brought to the table.
Now, millennials make up the biggest percentage of the workforce in the United States. This means that their mindset is only being passed down to younger generations as they begin to take leadership roles within the companies they work for.
Many people would point to the pandemic for driving a large portion of the change that’s affected the corporate landscape. However, what seems to make more sense is the pandemic forced a change that already needed to happen. It was a change that millennials were already lobbying for.
Changes like increased versatility, project-based environments, remote work, and collaborative work environments were all things millennials wanted to happen. When the pandemic arose, the millennials were there to pick up the pieces and keep things moving.
2. Job Hopping
Job hopping is at an all-time high, and it seems like it may continue to grow as time goes on. The numbers have shown that millennials are remaining at jobs for an average of about two years before exiting.
Surveys have shown that these employees tend to stay at an organization much longer when they’re surrounded by peers who think the same way they do. When you focus on your corporate culture, the chances of retaining talented millennials grow exponentially.
3. Working with Freelancers
So far, in 2022, there will be nearly 60 million people working as freelancers. If you don’t understand the sheer magnitude of this number, it means that almost 40% of the entire American workforce has picked up freelancing jobs.
You may think this spells bad news for many companies. However, this couldn’t be further from the truth. When organizations have the ability to work with temporary freelancers, they don’t pay as much in onboarding, payroll, and taxes.
This also provides them with a huge talent pool to choose from and gives them a new level of flexibility when choosing certain talents and skills. Working with freelancers has become so popular that some companies provide spaces just for these types of workers, allowing them to onboard with the rest of the team.
4. Mobile Still Critical
It’s been predicted that in the next few years, the team management will be done on more of a mobile basis. The last few years have demonstrated the importance of mobile learning and remote access for any corporation.
A huge majority of corporate workers have stated that engaging with coworkers and learning via mobile is a critical part of their satisfaction at work. Additionally, most workers have stated that using mobile devices reduces job completion times by up to an hour.
A combination of the speed of our world and the yearning to constantly be connected has led to mobile becoming the leading platform for learning and team projects. Even for managers, using mobile is the perfect element because of its ability to keep an eye on the team and their workflow.
5. Annual Performance Continues to Phase Out
Continuous feedback is still gaining traction and is forcing annual performance reviews out of the way. We believe that as the rest of 2022 progresses, we will see many organizations do away with annual performance reviews altogether.
Don’t be surprised if these types of reviews are completely phased out in the next five years. In the end, it makes too much sense.
For example, what do you think employees appreciate more – a pat on the back at the end of the year or continuously being praised for a job well done year-round? You don’t have to answer. It’s a no-brainer.
6. Goal Alignment Continues
Goal alignment will continue to grow in popularity when it comes to performance management. It’s already been a major trend since the latter half of 2021 and continues to be in the first quarter of 2022.
This goes hand in hand with organizations placing more emphasis on the wellbeing of their employees and ensuring they not only hit professional goals but personal ones as well. In the end, this pays huge dividends to the employees and the companies involved.
When organizations allow team members to link personal goals and plans with the company’s goals and visions, it creates synergy and an atmosphere of collaboration that will take both parties over the top. This takes us to our last trend of 2022.
7. Employee Happiness
This goes right along with the previous offering, and it’s one we’re glad to see. Employee happiness is at the forefront again, as organizations realize that happy employees are productive employees.
More emphasis is placed on employee mental wellbeing, and this will continue to be a growing trend toward the end of the year. It’s been a long time coming, and we can’t wait to see further developments regarding this dynamic.
Honestly, most of the predictions that were made in recent years seem to be spot on with what’s actually taking place. The only one that’s rising that wasn’t included on a lot of lists was the incorporation of freelancers, which brings a lot of value to many industries.
We’re excited to see what the rest of the year brings as companies continue to rebound from the pandemic and find new ways to hit their goals. Stay tuned for the next set of trends and predictions! The eLeaP continuous performance management system provides organizations with powerful options to attract and retain high caliber team members.