Command performance

We live in interesting times. Especially for performance management. Amid cries of “no reward for failure”, Wall Street banks are due to pay out a record $140 billion (£85 billion) in bonuses this year. In the UK, at Goldman Sachs (where bonuses are estimated to be 46 per cent higher this year than last), vice chairman Lord Griffiths says, “We have to tolerate inequality as a way to achieve greater prosperity and opportunity for all.”A recent CIPD poll found 96 per cent of HR respondents agreeing that the economic crisis makes the management of key talent more important than ever, with 92 per cent believing there’s now more emphasis on performance management generally. In a sluggish labour market, organisations have to optimise the talent they have, while rising unemployment puts pressure on individuals to perform.