In a digital world, insurance work and the insurance workforce is changing. Michael Costonis looks at whether or not performance management is effective at supporting a digital workplace.

Digital technologies are changing the nature of both work and the workforce, something acknowledged by a large majority of Accenture survey respondents, and that’s changing what performance management needs to do. Workers are more mobile and more diverse, in both the traditional and extended workforce, and employees have greater expectations for transparency and accuracy—they expect to collaborate and participate, and they expect training and career development.

Watch this Insurance Insight of the Week video to learn how effective performance management is at supporting this new environment.

Performance management lags behind other changes in the insurance workplace

To keep pace with the digital workplace and changing employee expectations, organizations must focus on both evaluation and development of their workers. Rather than continuing with top-down rules and practices, and annual performance reviews, performance management needs to establish ongoing, constructive conversations, personalized feedback and coaching.

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