Companies going through turbulent times have unique requirements when it comes to performance management training. Whether the company is undergoing change as a result of fast growth, Covid-19, or other reasons, their challenges will be bigger than those during calmer times.
For rapidly growing companies, a major part of the challenge is the fact that their talent requirements change so dramatically between the different stages of growth.In the startup phase the company usually simply cannot afford the high-end talent that they will require in later stages. In the growth phase, the company requires people who are flexible, creative, and adaptive. Experience may actually be a disadvantage in this phase. These people need to excel at “thriving on chaos” as the company finds its feet and strategic direction.
In later stages of development, however, the company may require a very different talent profile. During these later stages, the company will be seeking stability and maturity, requiring talent that is experienced and who can bring order to the chaos. Clearly this is a continuum that requires a wide spectrum of talent and it may not be easy to align everyone over time.
Similarly, changes to an organization due to the impact of things like Covid-19, acquisition, mergers or international expansion can all have a significant impact on performance management due to a change in talent profile. In the case of international expansion, for example, the organization may employ people from a completely different culture and with entirely different employment legislation. A one-size-fits-all approach to performance management simply will not work in this environment. A flexible and adaptive approach to performance management that is culturally sensitive and reflects the different legal requirements in the new jurisdiction will be necessary.
The same can be said for changed circumstances brought about by mergers and acquisitions. The acquired or merged company may have its own culture that differs significantly from your company. Similarly, it is likely to have a very different strategy. All of this needs to be aligned so that the new organization is working from the same page. This is where the role of performance management training delivers a crucial edge.
Companies that rely on a traditional model of performance management will struggle to achieve the necessary adaptation and alignment required for a successful transition. The traditional approach of the end of year performance reviews simply lacks the speed and flexibility required to support significant change.
Newer models of performance management are the key to achieving improved performance within organizations undergoing significant change. These models rely on a combination of the formal end of year reviews and informal check-ins along the way to ensure that everyone is consistently aligned with the organization’s overarching goals and strategy.
The organizational culture will eventually be reflected in which model of performance management is engaged. Using a more modern, flexible, and adaptive approach can lead to an organization that itself is faster and more adaptable to a changing world. For organizations that are undergoing significant change, whatever the cause, it is imperative to build a culture that will support high performance under challenging and changing circumstances.