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In today's competitive and volatile business landscape, organizations must find ways to be more efficient and effective in their management practices. To align with these changing business objectives, many organizations are transforming their performance management systems -- from what has traditionally included a yearly performance appraisal and numbered rating -- into a more flexible and dynamic process. Ensuring that such alterations maximize the value generated by human capital can be challenging as it is often unclear as to what the transformation entails.

Center for Advanced Human Resource Studies (CAHRS) research assistants Alex Avery, Jenny Lee, and Corey Van Patten discuss how performance management has evolved, along with indicators and pressure points for strategic change, key performance management "levers," and capabilities that will enable a successful transformation. Moderated by Chris Collins, associate professor of human resource studies and director of CAHRS.