New Performance Development and Strategic Planning Modules Connect Employee and Business Performance
REDWOOD CITY, Calif., March 15, 2016—Enterprise software provider BetterWorks today announced the addition of Performance Development and Strategic Planning to its operational suite, becoming the first company to offer a comprehensive business operating system for the modern enterprise. As the workforce struggles to connect strategy with execution and finds fault with traditional performance management processes, BetterWorks fills the gap by combining planning, strategic execution and people development across one platform.
“The modern workforce is demanding a more frequent, open and collaborative solution to workplace operations,” said Kris Duggan, CEO of BetterWorks. “We believe the future of work requires a business operating system that connects the dots between operationalizing the business and developing its employees.”
A recent Deloitte survey found that only 12% of HR leaders indicated their performance process was highly effective in driving business value. Unlike annual, private systems, the new Performance Development module by BetterWorks enables frequent, lightweight, two-way conversations between managers and their employees. Performance conversations can now pivot around the employee’s goals and top work priorities. Over the coming quarters, BetterWorks will roll out additional 360-feedback tools focused on individual work as well as contributions to company values.
“The employee performance appraisal is an underperforming, periodic business process that is loathed by both employees and managers alike. There is currently a great deal of debate about what next-generation performance looks like,” said Paul D. Hamerman and Claire Schooley of Forrester. “Continuous performance feedback is possible in today’s always-on digital world and should be a part of next-generation performance reviews.”
BetterWorks Plans lets users create multi-period views of goals to support agile, long term operational planning, and turn strategy into an actionable plan to execution. Now organizations can easily break annual plans into sizable, quarterly goals, update and communicate strategy as priorities of the company shift and allocate resources and planning more effectively.
“When asked to identify the single greatest challenge to executing their company’s strategy, 30% cite failure to coordinate across units, making that a close second to failure to align (40%),” said Donald Sull, Researcher at MIT. “Aligning on strategic objectives is crucial for businesses striving for operational excellence. BetterWorks Plans will help organizations overcome one of their most difficult challenges: connecting strategy with execution.”
Until today, no single platform has successfully connected the dots between employee development, planning for the long term and quarterly execution of goals. Both modules will be available to BetterWorks users for an additional monthly fee.
For more information about BetterWorks Performance Development and Strategic Planning, visit www.BetterWorks.com
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