02/09/2024 | News release | Distributed by Public on 03/09/2024 13:32
Director of Human Resources and Chief Human Resources Officer
Bennett Coleman & Co. Ltd. (The Times Group)
Mumbai, India
Connect
The traditional annual performance review is increasingly being viewed as a relic of the past. As organisations strive to adapt to rapidly changing market demands, the need for more dynamic and responsive performance management systems has become critical.
Today we see the ebullient entry of Artificial Intelligence (AI), a transformative force that is revolutionising how we manage and appraise employee performance in traditional systems. By enabling continuous feedback, real-time appraisals, and data-driven insights, AI is redefining the landscape in traditional systems of performance management. This makes it more agile, personalised, and effective.
Artificial Intelligence allows for real-time feedback and customised employee growth and development plans, but there should still be a human hand guiding these conversations.For decades, annual performance reviews have been the cornerstone of performance management in most organisations.
However, this once-a-year exercise may sometimes fail to capture the evolving nature of an employee's contributions and development needs. It tends to focus on past performance rather than future potential, leading to missed opportunities for growth and engagement.
AI, with its capability to process vast amounts of data in real time, offers a compelling alternative.
At Bennett Coleman & Co. Ltd. (BCCL; The Times Group), we recognised the potential of AI early on and chose to evolve our performance management system. We began exploring how AI could be integrated into our existing framework to foster a culture of continuous feedback.
Leveraging AI-powered tools, we shifted from a rigid, calendar-driven process to a more fluid and ongoing dialogue between employees and managers. This shift not only enhanced the timeliness and relevance of feedback but also empowered employees to take ownership of their development.
One of the most significant advantages of AI in performance management is its ability to provide real-time appraisals. Unlike traditional methods, which rely on periodic assessments, AI can continuously monitor and analyse employee performance based on a wide range of metrics. This real-time feedback loop allows for immediate recognition of achievements and timely identification of areas for improvement.
In my experience, implementing AI-driven performance management tools can have a profound impact on employee engagement. For instance, at BCCL introduced an AI-based platform that tracks key performance indicators (KPIs) and provides instant feedback to employees.
This allows us to highlight individual accomplishments and align them with organisational goals, creating a clear link between personal contributions and company success. As a result, employees feel more valued and motivated, knowing their efforts are being recognised in real time.
Moreover, real-time appraisals facilitate more meaningful and constructive conversations between employees and managers. Instead of relying on retrospective discussions, managers can now address issues as they arise, leading to quicker resolution of challenges and better support for employee growth. This approach can be particularly beneficial in fostering a culture of ongoing improvement.
One of the common criticisms of traditional performance management systems is the potential for bias and subjectivity in appraisals. Human judgment is inherently influenced by personal perceptions and experiences, which can sometimes lead to unfair evaluations. AI, with its data-driven approach, offers a solution to this challenge by introducing a higher level of objectivity into the appraisal process.
At BCCL, we utilise AI to analyse performance data across multiple dimensions, including productivity, collaboration, and innovation. This holistic view of performance, combined with predictive analytics, enables us to identify patterns and trends that might not be immediately apparent to human observers.
By relying on objective data rather than subjective opinions, AI helps to reduce bias in performance evaluations. This ensures employees are assessed fairly based on their actual contributions. This not only enhances the credibility of the appraisal process but also fosters a more inclusive work environment where everyone has an equal opportunity to succeed.
Another transformative aspect of AI in performance management is its ability to create personalised development plans for employees. Traditional one-size-fits-all approaches often fail to address the unique strengths and development needs of individual employees.
AI, on the other hand, can analyse an employee's performance data, learning preferences, and career aspirations to design a tailored development plan that aligns with their goals.
At BCCL, we leverage AI to provide employees with personalised learning and development opportunities. By analysing their performance data and identifying skill gaps, the AI-driven platform recommends specific training programmes, mentoring opportunities, and career paths aligning with their interests and aspirations.
This personalised approach has not only enhanced employee satisfaction but also accelerated skill development, enabling our workforce to stay ahead of industry trends.
While AI offers numerous benefits in performance management, it is essential to remember that technology should complement, not replace, the human element.
At BCCL, we believe AI-driven insights are most effective when combined with human judgment and empathy. Managers play a crucial role in interpreting AI-generated data, providing context, and delivering feedback in a way that resonates with employees.
For example, while AI can identify areas for improvement, it is the manager's responsibility to engage in meaningful conversations with the employee, offering support and guidance. Similarly, while AI can recognise achievements, it is the human touch that makes recognition truly meaningful.
At BCCL, we ensure our managers are equipped with the skills and tools they need to effectively integrate AI insights into their performance management practices.
As we continue to explore the potential of AI in performance management, it is clear this technology will play an increasingly central role in shaping the future of work.
At BCCL, we are committed to staying at the forefront of this transformation, continuously refining our AI-driven processes to enhance employee engagement, development, and performance.
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Amit Das is director of human resources and chief human resources officer at Bennett Coleman & Co. Ltd. (The Times Group) in Mumbai, India. He can be reached at [email protected].