Research by the global management consultancy the Hay Group shows that despite UK CEOs’ ambitious growth targets of 5% for 2011, 46% admit their staff are already too stretched.
The study also found that UK employers are failing to align performance management with business strategy.
While 83% of UK business leaders agree that individual performance management is an important driver of overall business performance, only 22% of firms align their performance management approach to the company strategy.
More than a third (36%) of business leaders describe their performance management process as a mere ‘tick-box exercise’.
Matt Crosby, associate director at the Hay Group, says: “Employee performance management sits at the heart of business success — yet too often is seen by senior managers as a chore.
“Without an approach tailored to their strategy, culture and values, firms will not be in the right shape to deliver the growth expected of them.”