Blog

Annual Appraisal giving way to Regular Feedback

Annual Appraisal giving way to Regular Feedback

The Changing face of Performance Management

According to a survey, employers are gradually moving away from the process of annual performance reviews and adopting the Regular Feedback system. These are findings of the Top Employers HR Best Practices Survey. The global survey assesses an organisation’s HR environment in the areas of: strategy, policy implementation, monitoring and communication of employee conditions and development.

According to the report, “We are definitely on the verge of a paradigm shift in the way we look at Performance Management.”

“Performance Management is one of the more mature HR practices, for which most participants have implemented fairly sophisticated systems and processes in recent years. Now is the time for further development though as organisations seek to improve their business performance, and gain competitive advantage, through better understanding and measurement of employee performance and motivation.”

Four key trends have been identified as shaping the future of Performance Management:

 – Performance culture as a fundamental

– On-going coaching and feedback

– Agile and transparent goal setting

– Focus and collaborative evaluation

One great example of this we have seen is from Microsoft, who completely overhauled their existing approach by removing all ratings in favor of a new, conversation-based approach to performance and development.

Related : 5 guaranteed ways to get a salary increment that you want

Against the backdrop of fast evolving business dynamics due to new technologies and working practices, Performance Management has a key role to play. The shift towards regular and transparent feedback will help organisations become a more dynamic, responsive and valuable part of the business performance cycle.

Also Read:

How to negotiate salary for entry-Level Jobs

How to Create Growth Opportunities in Every Job

You may like to read this

  • How to tackle Panel interviews?

    Many companies, while interviewing, have a panel of interviewers rather than only one person conducting the interview. Aisi situation main aapko kuchh baaton ka dhyan rakhna chahiye. Panel interviews require special technique. The candidate should maintain the interest of all the panel members at...

  • 8 Reasons You Might Be Perfect For Data Entry Jobs

    Data Entry Executives are required in all industries. Every company has to manage their data. It is one of those jobs that requires basic skills but is very important for the day to day working of a company. Thus, it has constantly been in high demand. Data entry jobs matching your SmartProfile...

x