Employee Performance Management

Part
01
of six
Part
01

Employee Performance Management: Trends

Some of the key trends driving the US employee experience/performance management industry include employing people analytics/using artificial intelligence to enhance employee experience, finding leverage and developing trust, and adaptation of customer experience successes to influence employee experience strategies.

Employee Performance Management

  • The increasing transparency catalyzed by the digitalization age plus influence from millennials has resulted in employees expecting engaging and enjoyable work experience.
  • Therefore, seeing how important it has become to improve the experience of employees, businesses are now focusing on ways to prioritize and better the employee experience.
  • Companies are no longer only focused on creating better customer experiences but also better employee experiences.
  • Organizations are shifting from corporate-centric practices to a more humanistic approach in order to focus on employee performance management to stimulate growth and satisfaction.
  • Focusing on employee experience integrates three core dimensions — engagement, culture, and performance management.

KEY TRENDS

1. People Analytics/Artificial Intelligence

  • 84% of leaders surveyed in the 2018 Deloitte Global Human Capital Trends report said analytics was one of the most important trends.
  • Other than reducing work pressure, AI will also help in intercepting and anticipating employee needs since it offers three key benefits — personalization, insights, and automation.
  • Personalization reinforces engagement and helps create a strong company culture.
  • Insights, on the other hand, can help individuals to gauge employee sentiment and make better decisions about how to keep their workforce engaged.
  • And automation relieves the burden of mundane, repetitive tasks on employees and frees them up to work on more complex, intellectual tasks.
  • To prove how this trend is driving the market, 70% of respondents of the 2018 Deloitte Global Human Capital Trends report said that they are currently in the middle of major people analytics projects that will be fueled by AI and robotics.
  • United Parcel Service (UPS) and Bank of America are some of the companies that have successfully implemented people analytics.
  • UPS trucks are fitted with more than 200 sensors that gather data on everything from whether the driver is wearing a seat belt to how many times the driver has to reverse or make a U-turn.
  • As a result of the monitoring, the company provides feedback and training where needed something that has led to a reduction of 8.5 million gallons of fuel and 85 million miles per year.
  • Moreover, UPS drivers now make an average of 120 stops a day compared to the previous less than 100 stops and as a result, the same drivers with the same trucks are now able to deliver more packages than before.
  • On the other hand, Bank of America discovered that its more productive workers were those allowed to take their breaks together, in which they let off steam and shared tips about dealing with frustrated customers.
  • The bank then decided to implement collective breaks, after which performance improved 23% and the amount of stress in workers’ voices fell 19%.

2. Leverage and Trust

  • Research by Bain and Company reveals how companies construct their teams is very critical to their productivity.
  • By extending trust to employees, it leads to improved productivity and supported employee growth and development.
  • Although the trust concept has been in the scene for quite some time now, many companies still fail to employ it. They continue to insist on their processes and rules. This is harmful because organizational rules and processes often prevent people from getting things done or improving in their role.
  • That is why few companies such as Netflix avoid a common process issue and expense management by trusting its employees to act responsibly.
  • An article by Forbes says that in 2019, trust will be the most crucial aspect in many businesses because leaders who are able to build trust will stand to benefit the most.
  • How companies like Apple and Google dedicate 95% of their top talent to key business functions, as opposed to spreading top talent across many areas proves how this trend of trusting employees is driving the market.
  • Apple, Google, and Netflix are 40% more productive than other companies by using a mix of employee performance management strategies that focus on organizational structure and trust-building.
  • Moreover, after finding leverage and trusting employees, it took 600 Apple engineers and fewer than two years to develop, debug, and deploy iOS 10 in contrast to 10,000 Microsoft engineers who took more than five years to develop, debut, and ultimately retract Vista.

3. Customer Experience Successes

  • After years of focusing on customer experience (CX), organizations have now realized that employee experience (EX) is also equally important.
  • Companies that lead in customer experience have 60% more engaged employees.
  • For some time now, companies have been focused on improving employee engagement, that is creating the right conditions for all members of an organization to give of their best each day and stay committed to their organization's goals and values coupled with a sense of their[employees] own well-being.
  • However, 83% of HR leaders agree that the employee experience is crucial for the success of their organizations and as a result, companies have been forced to rethink their strategies.
  • They have moved from the usual trying to engage employees and creating human-centric workplaces to include employee experience in their focus.
  • Companies now use sophisticated analytics that not only helps them improve employee experience but also correlate their investments in EX back to bottom-line results like reduction in turnover, profit/revenue growth, and customer service/satisfaction scores.
  • Studies have shown that investing in EX not only impacts the customer experience but can also generate a high ROI for a company.
  • Employee experience is more than simply the job or task an employee does. It is emotional and contains both high-impact moments and delicate, nuanced moments that build over time.
  • Therefore, to increase meaningfulness and the positive impact of employee experiences, organizations have now turned to the CX tactics that they have learned over the years to help them develop more thoughtful approaches.
  • Airbnb and Taco Bell are some of the companies that have adapted CX successes to influence EX strategies.
  • Taco Bell puts employees first by always providing them a way to contact management. It has a network of 1-800 numbers to field complaints, answer questions, and also alert management of potential red flags for its 175,000 plus employees and the metric of success is proved by how Taco Bell has grown to be a fast-food giant.
  • “Belong Anywhere” is Airbnb's mission statement and it extends beyond customers to also include employees. The company has worked/works to create a culture that sets employees up for success in their personal and professional lives, from having a flexible, open office space to being transparent with the goals of the company.
  • The company's $2.6 billion revenue in 2017, popularity, and success in general heavily relies on employee experience.
Part
02
of six
Part
02

Employee Performance Management: Key Players (1)

The Key Messaging point for Lattice is that it is the number 1 rated performance management solution and the number 1 rated in Customer Satisfaction, Easiest to Use and Ease of Implementation. While the Key Messaging point for CultureAmp is that it is the Culture First organization that is Culture-focused for companies everywhere.

LATTICE

Company Overview

  • Lattice is a San Francisco-based human resources software firm that uses surveys to shift the focus of performance management from employee evaluation to career development.
  • Lattice prides itself on being an organization that makes performance management software for forward-thinking organizations.
  • The firm helps companies to streamline their processes for performance management by providing software that helps to give people the best parts of performance without the pain.
  • More than 1,300 organizations put their trust on Lattice for performance reviews, feedback, OKRs, and employee engagement.
  • The company serves hundreds of customer around the world.
  • The firm is on Forbes' annual list of the Next Billion-Dollar Startups for the year 2019.
  • Lattice's founders are Jack Altman and Eric Koslow.
  • Lattice is the #1 rated performance management solution on G2.
  • According to Crunchbase, the estimated annual revenue for Lattice is $3.7 million.

Product Offerings

  • Lattice offers its products in two broad categories, performance and engagement. (Source 4)
  • The firm Runs engagement surveys to build a people-first culture by collecting feedback from all people in the organization.
  • Through its HR software platform, the firm helps organizations identify engaged employees and align performance review scores with employees as an end-to-end employee engagement solution.
  • The firm uses employee engagement surveys to get actionable insights.
  • The firm uses people analytics, company benchmarks and question templates to build culture together and motivate team members.
  • Lattice offers a survey launcher, which makes setting up engagement survey easy.
  • Lattice also offers a continuous performance management suite.
  • The performance management suite includes solutions for reviews, feedback, 1 on 1s, goals, praise and updates.
  • Through Lattice for Everyone, the firm is able to explore different perspectives of performance management software.
  • The firm can review the different perspectives of HR, Managers and Employees.

Key Messaging

  • According to its Twitter feed, the firm's mantra is "Develop engaged and high-performing teams."
  • Lattice boasts that it is the #1 rated performance management solution on G2's Spring 2019 Grid Report.
  • The firm says that Lattice is the highest-rated platform for people.
  • Lattice claims it is #1 rated in customer satisfaction, easiest to use and ease of implementation.
  • According to customers, Lattice is the only platform that surfaces actionable insights about HR.
  • Customers reviews posted on Lattice's website say that it is the performance management solution employees want to use and its flexibility allows for deep customization without being overwhelming.
  • Lattice uses webinars, books, library, interviews and articles in its messaging.

CULTUREAMP

Company Overview

  • CultureAmp prides itself as a truly new type of company that puts culture first.
  • The company promises its customers a platform that powers culture-focused companies everywhere.
  • They believe that for company to be customer-centric and financially successful, it has to put employee culture first.
  • The company is a leading People & Culture Platform that helps companies take action to improve employee engagement, retention and performance.
  • More than 2,000 organizations put their trust in CultureAmp.
  • Through the use of Culture Amp, organizations are able to uncover crucial relationships between performance and engagement.
  • The firm uses insights generated to create high-impact actions for an ideal employee experience.
  • The firm relies on data to make decisions and drive success in culture.
  • Didier Elzinga is the CEO of Culture Amp.
  • According to Crunchbase, the estimated annual revenue for CultureAmp is $30 million.

Product Offerings

  • CultureAmp offers its products in three broad categories, the people and culture platform, performance and engagement.
  • The people and culture platform connects the dots across the employee experience by taking action to improve employee engagement, retention, and performance. It is a holistic approach to the employee experience that has personalized dashboards for individuals, managers, and leaders.
  • The people and culture platform has been used by over 2000 companies to build better workplaces for more than 3 million employees. CultureAmp gives insights that can be turned into high-impact actions to create an ideal employee experience.
  • The platform uses machine learning algorithms to combine employee engagement and performance data. This platform helps to drive behavioral change since it is easy for everyone to use.
  • CultureAmp creates a high-performance culture by developing people through performance reviews, goal tracking, continuous development and 360s.
  • The company's performance offerings empower employees to improve through taking responsibility for their own development.
  • CultureAmp's engagement offerings help to strengthen the company culture by building a better company through diagnostic, deep dive and pulse surveys with powerful analytics and action planning.
  • The company used modern psychology to help build the feedback program.
  • Companies can use CultureAmp to send automatic employee surveys for each life cycle milestone, such as on boarding and exit.
  • Survey data can be compared with more than 62 benchmarks powered by real-world company data.
  • Each company is able to tap into employee insights to forecast employee turnover and uncover the reasons why.

Key Messaging

  • On its official Instagram page, CultureAmp tags itself as ''The People and Culture platform,'' while using the hashtags #peoplegeeks and #culturefirst on both Instagram and Twitter.
  • The company claims to be "the world’s top-ranked employee feedback and analytics platform."
  • CultureAmp includes customer quotes on its website, including "I love the fact that the tool enables me to keep what we want to benchmark over time and pulls things in and out that I’m using across a range of people culture activities.
  • "Culture First" is the key message for the organization.
  • The firm says it builds "engaged, high-achieving teams by tapping into the powerful connection between engagement and performance."
  • CultureAmp uses webinars, blogs, white papers, ebooks, interviews and articles in its messaging.
Part
03
of six
Part
03

Employee Performance Management: Key Players (2)

Quantum Workplace and Officevibe both offer software platforms that are designed to increase employee engagement. The revenues and key messaging points of each company are elaborated on below.

Quantum Workplace

  • Quantum Workplace is a provider of an "all-in-one employee engagement software" which empowers employers to take control of the workplace. The software's features include surveys, recognition, one-on-ones, ideas and alerts, goals, feedback, vitals, and analytics. Through these tools, team leaders are able to nurture employee relationships, track employee performance, and make strategic decisions with real-time insights.
  • Quantum Workplace's annual revenue is estimated as $10.3 million.
  • The company tagline is to "Make Work Awesome" and their main mission is to "make work better every day."
  • Quantum Workplace claims their software can transform every manager into a good manager. They also claim that their platform will seamlessly fit with any work process and can transform managers' leadership.
  • They put importance in the team over self while also putting value in workers' individuality. Moreover, the company promotes enjoyment in work and aims to make the workplace more human.

Officevibe

  • Officevibe offers a simple employee management software that helps employers to build stronger teams and enhance employee performance. It provides features such as pulse surveys, team reports, and feedback. Further, Officevibe utilizes Artificial Intelligence (AI) which gives team leaders expert advice for dealing with their challenges. The platform is built on the company's three core values: science, simplicity, and safety.
  • Officevibe's annual revenue is estimated as $0.64 million.
  • The company tagline is "Everyone should be happy at work." The company's core belief is that "the future of work is human", and their main mission is to support managers in their role.
  • Officevibe claims to reinvent the way management and employees communicate.
  • The company's program is marketed as a system that caters to all three parties in the workplace: HR leaders, managers, and team members.
Part
04
of six
Part
04

Employee Performance Management: Key Players (3)

Gensuite helps to provide various solutions for companies to improve safety and performance at the workplace, while Qualtrics helps to provide services to enhance customers' and employees' experiences.

GENSUITE OVERVIEW

  • Gensuite is one of the leaders in the technology industry, providing cloud-based EHS software solutions.
  • The company solutions help various companies to facilitate safe & sustainable workplaces.
  • Also, the company's solutions were designed to empower companies to protect their employees and to achieve functional program goals & objectives.
  • This company provides services to various industries such as automotive, chemical, construction, energy & renewables, pharmaceuticals & health care, aviation, oil & gas, entertainment & communications, among others.
  • This company is headquartered in Ohio, the United States.

GENSUITE OFFERING

GENSUITE REVENUE

GENSUITE MESSAGING POINTS

QUALTRICS OVERVIEW

  • Qualtrics provides a single system of record for managing organizations' "experience data" (X-data).
  • This enables organizations to manage their customer, product, employee and brand experiences effectively.
  • Qualtrics provides services to various industries such as retail, healthcare, financial services, travel & hospitality, media, automotive, among others.
  • This company is headquartered in Utah, the United States.

QUALTRICS OFFERING

  • Qualtrics offers a subscription software platform which enables notable companies to improve their brand experiences.
  • The company XM Platform provides easy access for any organization to collect, understand, and take action on experience data (X-data) which involved the beliefs, emotions, and sentiments of customers and employees.
  • Examples of Qualtrics solutions include CustomerXM, EmployeeXM, ProductXM, BrandXM, and ResearchCore.

QUALTRICS REVENUE

QUALTRICS MESSAGING POINTS





Part
05
of six
Part
05

Employee Performance Management: Key Players (4)

Transcend Engagement and VibeCatch focus on the improvement in employee engagement, and offer solutions for organizational leaders. The revenue of Transcend was found to be $40,000, with key messages of modern employment engagement strategies and claims of engagement improvement. VibeCatch, with a revenue of $592,000 also promotes key messages of improving employee engagement.

TRANSCEND ENGAGEMENT

  • Transcend Engagement offers solutions for top organizations looking to maximize the top drivers of employee engagement. Its solutions not only measure employee engagement but also provides tools that can be used to increase it.
  • With employee engagement being highly correlated to organizational performance, organization heads are putting great focus on engagement.
  • Transcend offers employee relationship management through the use of a communication portal, established recognition programs, employee development, and health and wellness. Utilizing recognition programs to establish appreciation, communication tools, employee engagement surveys, organization development, and performance management systems Transcend covers all bases in employee engagement.
  • The annual revenue of Transcend as documented by Hoovers is $40,000.
MESSAGING
  • The first line attention-grabbing line on the Transcend web page is the heading “Engagement in the Modern World,” branding the company as one of modern functionality and services. Following this, a further explanation is given as to what modern means to the company. This was inclusive of the company being mobile-friendly, with real-time engagement and intuitive programs.
  • On its homepage, Transcend promotes its service of increasing engagement, asking visiting customers the question of if they wish to increase engagement. Here the company further lists how its solutions work to help customers reach their goals. This message is further promoted on the page, with many references to increasing engagement.
  • The company also labels itself as supportive of employees, listing out the various advantages its services provide for employees.
  • The Facebook page of Transcend highlighted posts mostly surrounding leadership improvement in organizations showing their interest in this area.
  • The posts further speak to what leaders can do to improve employee engagement through improvement in trust, communication, and more. Posts were also seen surrounding the overworking of employees and toxicity in the workplace environment.

VIBECATCH

  • VibeCatch is an advanced employee engagement platform utilizing polls and analytics to help promote a better work culture for companies. VibeCatch collects anonymous feedback frequently from employees and automatically delivers a clear breakdown of the results to the organization heads.
  • Their service is based on the idea that listening to issues that employees may have before they become a problem will enforce a better work environment with happier employees and as such better productivity.
  • VibeCatch provides the only employee engagement tool that uses the effective Quality of Work Life (QWL) Index. This index uses job satisfaction metrics highlighting areas of improvement in an organization by detecting weak signals and undercurrents that most survey methods fail to detect. With this scientific-based platform, organizations can relate employee engagement to productivity and financial consequences.
  • A Forbes feature published in 2018 stated an expected revenue for the company of $592,000, a figure considered to be a significant increase from the previous year.
MESSAGING
  • The brand VibeCatch promotes the fact that its products and services will help improve the workplace through the use of employee feedback.
  • The feature in Forbes magazine is on the VibeCatch homepage as a way of adding validity to the company's services. VibeCatch further utilizes this strategy with the inclusion of brands that it claims have benefited from its services.
  • The company describes its developed QWL service as "scientifically proven" and "developed by leading academics." This further promotes the message of the proven validity of its services in the market.
  • Throughout the web page, the message of the correlation between engaging with employees to provide a better culture and increased financial standings is prominent.
  • When viewing the company's Facebook page it was seen that the brand promoted its high support for employees and their well-being. This is seen through the numerous posts about employee’s feelings towards work or their environment.
  • Facebook posts were also seen to cover pointers for leaders to run a better organization with more satisfied employees.

Part
06
of six
Part
06

Employee Performance Management: Key Players (5)

KaiNexus offers software solutions such as virtual coaching and implementation services to help their clients improve their workplaces and increase engagement. WorkTango's platform gathers insights from employee feedback for executives and provides tools for employee engagement. Both companies convey messaging about the advantages of their products through various platforms, including through social media and their websites.

KAINEXUS

OFFERINGS AND COMPANY REVENUE
  • According to their company website, KaiNexus provides software solutions to help clients drive workplace improvement, increase engagement, maximize impact, and partner for success. It is headquartered in Texas, in the United States.
  • KaiNexus offers virtual coaching services, in which the company's coaches monitor and review a client’s improvement activities.
  • KaiNexus offers on-site services through its consultants. The consultants coach managers or leaders and support workplace cultures of improvement by teaching strategies to their clients.
  • KaiNexus’s implementation services are offered through implementation specialists. The specialists use web meetings and group training sessions to help their clients.
  • KaiNexus has an annual recurring revenue of $276 million.
COMPANY MESSAGING, POSITIONING, AND TAGLINE
  • In its messaging, KaiNexus highlights the impact that their software solutions has on their clients. For example, on their website, the company has published financial improvement statistics that demonstrate the impact of KaiNexus services on their clients.
  • On their website, the company positions itself as a great provider of software solutions that help organizations capture workplace improvements. The company claims to help gather daily improvements from staff members, help clients improve their coaching abilities, help streamline the improvement process, and helps clients run their projects or events better.
  • The company tagline is“We're Only as Great as the Sum of Our Parts. Luckily, Our Parts Rock.” This demonstrates KaiNexus’ marketing strategy that claims its services are some of the best in the industry and that they have solutions that fit their clients' needs.
  • The company tagline also helps emphasize that KaiNexus is committed to improving the employee performance of its clients, if they use their services.
CHANNELS USED FOR MARKETING MESSAGING
  • KaiNexus uses social media to convey its marketing messages, especially on Twitter. The company posts demonstrative videos of their services on the company Twitter account.
  • The company also uses blog posts to convey information about their offerings and competitive advantages.
  • For example, KaiNexus shared an informative article called "The Motivation-Hygiene Theory of Employee Engagement " on their blog on August 15, 2019. The article demonstrated its focus on creating content and developing solutions the meet its client's needs.
  • KaiNexus also makes use of podcasts to convey its marketing messaging. In one of their podcasts with Jeff Rousell, the discussion painted a picture of KaiNexus as a company that offers value to customers through its high-end software solutions.

WORKTANGO

COMPANY OFFERINGS AND REVENUE
  • According to their website, WorkTango is a multi-purpose platform that helps employees have a voice and that aids companies in gathering information on any engagement or feedback initiatives they are running.
  • The platform uses data science and natural language understanding to gather information from employee feedback that is passed along to HR or other company leaders. The insights allow for a more engaged workforce and better people-related decisions, among other things.
  • The company provides services in areas such as employee engagement, diversity and inclusion, leadership feedback, and project effectiveness.
  • The company also offers consulting services, action planning, and people analytics services, with a focus on employee engagement.
  • WorkTango has an estimated annual sales revenue of $2.56 million.
COMPANY MESSAGING, POSITIONING, AND TAGLINE
  • WorkTango positions itself as a great provider of employee engagement solutions that improve employees' lives at work. In an interview, Rob Catalano stressed that WorkTango has a passion instead of a mission to improve employees' experience at work, since a mission ends.
  • WorkTango’s tagline is “Giving Employees a Voice and Leaders Actionable Insight.” Through their tagline, the company conveys a message about its commitment to employee engagement and empowering business leaders with pertinent insights.
  • According to the company website, customer service is one of WorkTango’s key selling points and their most important services. The company communicates this message through statements like they offer "Software-AND-a-Service."
  • On their website, the company has published a number of competitive advantages that clients can gain from using its platform and services. The advantages listed portray the company as having a competitive edge over other companies in the industry.
  • Some of the advantages of using their services that WorkTango promotes are seamless employee experience, customizable features, real-time actionable insights, and successful leadership.
  • The company also positions itself as the market leader in providing an effective platform for employee engagement.
CHANNELS USED FOR MARKETING MESSAGING
  • WorkTango uses blog posts and press releases to create awareness about its products and service offerings, along with providing useful insights into employee engagement best practices.
  • The company also uses Twitter to drive conversations about employee engagement and its services. For instance, the company has been using the hashtag #EmployeeEngagement lately to encourage conversations on the topic.


Sources
Sources

From Part 01
Quotes
  • "Senior leaders now think of employees in the same way they think of customers. Just like customers, employees have unique journeys, preferences, and needs."
Quotes
  • "If managers are able to effectively analyze and predict staff needs accurately, making the office environment more productive, improving career development, and implementing human resource processes should become much easier. "
Quotes
  • "Businesses recognize that to stay competitive, they must find ways to bring out their employees’ best performance, by ensuring that they feel a sense of belonging and purpose."
Quotes
  • "companies that have a dedicated focus on employee experience tend to also have a strong culture, heightened employee engagement, employees who feel proactively supported, a diverse and inclusive environment, and high levels of touch throughout the employee life cycle."
Quotes
  • "There is a undeniable link between employee experience and customer experience"
Quotes
  • "2019 is the year in which trust will become the most important currency for doing business, ultimately making or breaking a company’s success."
From Part 02
Quotes
  • "Lattice makes performance management software for forward-thinking organizations."
Quotes
  • "“At Culture Amp we are focused on building a new type of company—a company that truly puts culture first. It is this focus that allows our people to deliver on our promise of a platform that powers culture-focused companies everywhere.”"