REDWOOD CITY, Calif., March 15, 2016 /PRNewswire/ -- 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 workforces struggle to connect strategy with execution and find fault with traditional performance management processes, BetterWorks fills the gap by weaving together 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're giving businesses everything they need to become high performers and execute on strategic plans--both by operationalizing their business and developing employees. This has become vital in today's climate, where leaders are chartered with doing more with less."
A recent Deloitte survey found that only 12% of HR leaders indicated their performance process was highly effective in driving business value. Unlike traditional, time-consuming and complex performance management processes, the new performance development module by BetterWorks enables frequent, lightweight, two-way conversations between managers and their employees. Performance conversations can now center around the employee's goals and top work priorities, and facilitate the real time coaching employees need to become high performers, stay engaged and advance their careers. Over the coming quarters, BetterWorks will roll out additional 360 degree and peer feedback capabilities 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," wrote Paul D. Hamerman and Claire Schooley of Forrester¹. "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 execute on strategy with actionable steps. Now organizations can easily turn annual or multi-year 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, Senior Lecturer and 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
¹Transform Employee Performance For Continuous Engagement", Forrester Research, Inc., February 1, 2016
BetterWorks™ is the first enterprise software company to integrate planning, strategic execution and people development across one platform. Rooted in Objectives and Key Results (OKRs), it uses Goal Science™ insights to help high-performing companies get aligned, stay focused on the work that matters and ultimately become more successful. The company is headquartered in Redwood City, CA with an office in New York City, and is backed by Kleiner Perkins Caufield & Byers and Formation 8. BetterWorks has an experienced team from innovative companies like Box, LinkedIn, Palantir, Salesforce, Zuora and Yammer. To learn more about BetterWorks, visit www.betterworks.com.