Large enterprise organizations are striving for more continuous and data-driven performance processes, according to respondents in Workday’s global “Employee Performance Management Needs a Promotion” study, conducted by Forrester Consulting on behalf of Workday. The study, which surveyed more than 600 employee-performance decision makers, also found that 87 percent of large enterprises said that helping teams succeed is one of their primary goals for shifting to continuous performance management (CPM).
The research, which gathered responses from businesses across 14 countries in North America, Europe, and Asia Pacific, found that 82 percent of large enterprises are actively looking to evolve their performance management approach. The reasons for doing so are compelling, with 51 percent stating that more continuous performance processes will better support employee development—and by extension, boost employee retention (45 percent). Additionally, 45 percent said they need to better connect employee performance to measurable business objectives.