Editorial
Performance management is more than just a buzzword—it’s a vital process that can supercharge both employee satisfaction and a company’s bottom line. By continuously identifying, measuring, and developing workforce performance, organizations can align individual goals with broader objectives, creating a cohesive and motivated team ready to achieve new heights.
In this edition of This Week in Consulting, we dive deep into the latest trends in performance management. We’ll cover the essential steps for implementation, the best practices from industry leaders, and the common challenges you might face along the way.
Plus, we’ll look ahead to future trends like continuous feedback and the integration of cutting-edge technology. We also explore how meaningful conversations and relationship-building remain crucial for effective performance management, even as automation takes hold.
Join us as we explore how to unlock your organization’s full potential. Dive in, share your thoughts, and let’s keep the conversation going.
Laurent THOMAS
Chairman Consulting Quest
This week’s must read
In this edition of This Week in Consulting, we delve into the concept of performance management and its transformative impact on both employee and company performance.
This article by Huron highlights the need to evolve traditional EPM systems into integrated business modelling platforms. It recommends unbundling EPM into financial planning and management, using modern technology to enhance real-time decision-making and cross-functional collaboration.
This week’s media
In this video by Goldman Sachs, David Landman and Julie Zide discuss how science-based performance management strategies enhance employee engagement and performance. They explain that adopting a coaching-oriented model can boost productivity, reduce attrition, and positively impact overall business success.
Thought Leadership
This article by Vantage Circle emphasizes effective performance management’s role in aligning, developing, and motivating the workforce to unlock an organization’s full potential. It covers the importance, processes, best practices, and challenges of performance management, offering real-world examples.
This article by Gallup critiques traditional performance management for focusing on weaknesses, advocating instead for leveraging employee strengths. Gallup research shows that engaged employees thrive when they spend more time using their strengths, especially in remote work environments.
This blog by Wrike highlights performance management’s role in aligning individual goals with organizational objectives. It covers key components like goal setting, feedback, and coaching, and discusses implementation steps, overcoming challenges, and future trends like continuous feedback and technology integration.
This article by Deloitte highlights the shift to team-based work, noting its performance benefits. It emphasizes effective teaming behaviours, psychological safety, and suggests eight strategies for enhancing team performance, advocating for a shift in performance management to better reflect teamwork.
This week’s consulting news selection
The team from industrial and manufacturing sector technology integration and support specialists Efficientia Solutions has joined Deloitte. The move will boost the professional services firm’s client offerings and market presence.|
Accenture has entered into an agreement to acquire Logic, a retail technology services firm that works with retailers to drive customer loyalty, boost revenue and increase agility through the use of technology.|
Andersen Global has expanded its global valuation capabilities by partnering with Bulgaria’s Advance Valuations, enhancing service offerings across real estate, business, and more, while boosting global reach and client service.|
Projective Group has announced the acquisition of Thede Consulting, a prominent German management consultancy specialising in Payments and digitalisation strategy.|
Laurent is the Chairman and Co-founder of Consulting Quest. Focused on greater value creation, and being thoroughly familiar with Consulting, Laurent has sourced and sold millions of dollars worth of Consulting over the course of his career. Prior to joining Consulting Quest, Laurent was Executive Vice President Oil and Gas at Solvay and Senior Partner Transformation at Oliver Wyman.
