New models of working driving innovative talent management practices
PwC rated as an ALM Intelligence* Vanguard Leader for performance management
Performance management is moving away from simply being a compensation-driven discipline, with innovative new models redefining how businesses set goals, evaluate performance, and deploy new technologies for a simpler, more engaging process, according to ALM Intelligence’s Performance Management Consulting report [May 2016].
The report finds that as organisations rethink performance management, their focus is shifting towards talent management and how to improve the employee experience. Performance management is becoming less about rating someone and more about managing the workforce in a way that helps individuals, teams, and leaders achieve their best outcomes.
Bhushan Sethi, PwC partner, who leads the firm's global performance management offering, part of its People and Organisation practice, agrees, he commented:
“An effective workforce is a key driver of organisational success, and so new models of working are requiring businesses to rethink their talent management practices. Employee performance now needs to be aligned to organisational performance, as well as connected to purpose and values. Businesses should demand fewer and more fluid objectives, with processes and tools that are aligned to culture, yet differentiated to the needs of workforce segments, with frequent communications enabled by digital technology.”
Organisations are therefore looking to performance management consultants to help them take a broader view of compensation as a strategy for optimising workforce programmes that attract, retain, and engage talent.
The report looks at the consultants who are playing a central role in rewards-based compensation strategies and rates PwC a global ALM Intelligence vanguard leader for performance management. It recognises that PwC combines a strategic approach to talent management and organisation design with deep expertise in job architecture, competency modelling, rewards, and career pathing, providing clients with a full service, talent architecture capability.
Liz DeVito, associate director and lead for human resource consulting research, ALM Intelligence, and author of the report, noted that PwC excels in its ability to leverage a vast internal ecosystem of consulting services, solutions, and research to help clients connect their performance management strategy to execution impact on a global scale and at all levels of the organisation. She commented: “The firm views performance management as a core strategic process that is elemental to organisation transformation and most effective when it is centred on the employee experience. This view is brought to life in a design-led consulting approach focused on creating a modern, transparent, and simplified process that fosters trust and engagement.
“For clients seeking a digitally enabled process, PwC delivers exceptional strength in customizing the full range of HR platforms and software suites to clients’ unique needs and solutions development. Overall, PwC goes to market with a business-led, evidence-based, and innovative approach that is workable, as it was honed in the firm’s own journey to performance management transformation.”
Commenting on achieving the Vanguard rating, Bhushan Sethi, Global Leader for PwC’s Performance Management offering, said: “We are delighted to be recognised as being at the forefront of helping clients view performance management as an enabler for delivering on business and people outcomes, through integrated business and people strategy, talent management, learning, rewards, digitisation and analytics solutions.
“As we work with clients across industries and geographies, and continue our own talent transformation journey, we see performance management continuing to be a hot topic that will further evolve, given changes in the economic and regulatory environment, workforce preferences and technology innovation.”
*ALM Intelligence, formerly Kennedy Consulting Research & Advisory.
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