This Week: Talent-First Tact, Doubling Development, and Gen Z Needs
This week, we explore how CEOs are waking up to the power of a talent-first approach, how companies are ripping out rating systems and replacing them with something better, what Gen Z (probably) wants from work, and a simple secret to managing performance.
What does it take to lead an organization that truly unleashes its human capital? If anyone knows, it’s probably these three advisors from McKinsey. They’ve spent a cumulative 90 years consulting executives and they write that they have never seen a time like today when so many CEOs asking themselves the exact same question.
Twenty percent. That’s how many companies have ditched performance ratings according to research firms DDI and Ernst & Young. But, those companies haven’t given up on managing their employees’ performance altogether – they’ve found that by replacing ratings with key elements of continuous performance management®, they develop higher quality leaders.
Say what you will about the imprecision of generational analysis – there’s no denying that new generations alter the workplace. Millennials, many of whom are now old enough to be in middle and upper management, made their mark. Now Gen Z is here and they hold contrarian views on individuality, pay, and social skills.
Just because a manager meets their job requirements doesn’t mean they’re necessarily doing it right. Seventy-nine percent of employees who quit their jobs cite “a lack of appreciation.” The encouragement they need to stay isn’t prescribed in an employee handbook – but here’s one secret to retaining and growing talent.
Want to double down on your org’s development? Try with your team.
A BetterWorker wrote this. At BetterWorks, we are on a mission to empower organizations to replace traditional performance management with real-time feedback, peer recognition and manager-employee conversations.