Louie V.’s Post

HARVARD BUSINESS REVIEW The Performance Management Revolution Hated by bosses and subordinates alike, traditional performance appraisals have been abandoned by more than a third of U.S. companies. The annual review’s biggest limitation, the authors argue, is its emphasis on holding employees accountable for what they did last year, at the expense of improving performance now and in the future. That’s why many organizations are moving to more-frequent, development-focused conversations between managers and employees. The authors explain how performance management has evolved over the decades and why current thinking has shifted: (1) Today’s tight labor market creates pressure to keep employees happy and groom them for advancement. (2) The rapidly changing business environment requires agility, which argues for regular check-ins with employees. (3) Prioritizing improvement over accountability promotes teamwork. Some companies worry that going numberless may make it harder to align individual and organizational goals, award merit raises, identify poor performers, and counter claims of discrimination—though traditional appraisals haven’t solved those problems, either. Other firms are trying hybrid approaches—for example, giving employees performance ratings on multiple dimensions, coupled with regular development feedback. https://lnkd.in/gx9bGYTm

PEOPLE MATTERS How AI is ushering in the future of workplace communication While real-time translation is undoubtedly a game-changer, the influence of AI on workplace communication extends far beyond breaking down language barriers. https://lnkd.in/g_DPGt4p

STRATEGY + BUSINESS Five ways to avoid the pitfalls of binary decisions Before you decide, check how the question is framed to ensure you have all the information you need and have considered all your options. Deciding is easy: true or false? The first challenge in answering this question is that it’s impossible to know the answer without more information. Which decisions, with what stakes, and on what timeline—these are just a few of the contextual factors most of us would want to consider before answering. The second challenge is that it’s probably not a true-or-false proposition. https://lnkd.in/g2qpGRnb

PWC Does your audit plan tackle the risks that matter? A PwC internal audit survey shows that many IA teams aren’t addressing the threats CEOs deem most urgent. Closing that gap is key to building trust. Navigating an increasingly complex risk landscape is a key function of internal audit (IA) teams, but are IA plans adequately addressing the risks that management feels most exposed to? The findings from PwC’s 2023 Global Internal Audit Study, which surveyed more than 4,600 business leaders in 81 countries, suggests there’s progress to be made. CEOs polled in a separate PwC survey said that they consider macroeconomic volatility and inflation the top threats to their company, for both the near and the medium term. Yet only 48% of respondents in the IA survey said their company’s IA plan has addressed those risks. This suggests a significant misalignment—but also a significant opportunity. https://lnkd.in/gVKaSQ4p

An Invitation!

INSPERITY From buzzwords to benefits: The real impact of employee mentoring Employee mentoring programs aren’t just buzzwords to add to job descriptions and career pages. Creating a method that supports chemistry and lasting productivity through an effective mentorship program has a place in your strategic planning. We’ve spent the last few years re-learning what employees need and want. The Great Resignation has shown us that individuals are more than willing to make big career changes if it means moving somewhere they feel they’ll: - Be more valued - Have more flexibility - Get better pay - Grow in their career This has placed a critical focus on retention – and all efforts that go into supporting that. This is where having a strong employee mentoring program can make the difference between someone who may be quiet quitting at their desk and someone who’s feeling more plugged in to their team and the company’s mission than ever before. https://lnkd.in/gnq_irpv

STRATEGY + BUSINESS (A PWC Publication) Leaders should revisit the works of three corporate culture pioneers A trio of 20th-century thinkers yields insights into how to align culture with strategy and energize employees today. As consultants, we’ve been working in the world of corporate culture much longer than it has been popular to do so. Over the past ten years, culture has become a regular topic of discussion among leaders, and writing on the topic has exploded. And yet, even with these new and sometimes very insightful voices to draw from, we find ourselves repeating the wisdom of three 20th-century thinkers: Leon Festinger, Frederick Herzberg, and Daniel Goleman. https://lnkd.in/grSrDKkM

PWC Generative AI: The 21st Century Power Play Generative AI (GenAI) is poised to become the catalyst for era-defining transformation in the global economy. It stands to reshape industries, enhance productivity, and forge new paradigms of innovation and human–machine collaboration. https://lnkd.in/g5DC2GXs

CHIEF LEARNING OFFICER Soft skills are more valuable than hard skills It is becoming clear that executives appreciate soft skills but still don’t put them in the same level of value as hard skills. We have some work to do. https://lnkd.in/gfeXfSs5

DDI How to Design an Effective Learning Journey Explore best practices for how to create a learning journey and learn why this approach is crucial for a company’s leadership development strategy. The traditional approach to learning journeys is no longer cutting it. Learning journeys have traditionally been designed to solve a leadership challenge over the course of a predefined time—6 or 12 months, for example. But at DDI, we know that learning journeys must be comprehensive and continuous over the course of a career and flexibly fit ever-changing leadership challenges. In this blog, I'll discuss why it's important for organizations to evolve their approach to learning journeys and shift away from "one and done" leadership programs. I'll also provide best practices for how to create learning journeys to support modern leaders in a fast-paced business world. https://lnkd.in/gJt5f9CN