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.
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.
You may like to read this
MeraJob August 26, 2014
Looking for a Better Career ? Improve your English.
Did you know that having a good command over the English language is the first step in being a good communicator and the biggest advantage you could have over other prospective candidates for a job. It is every recruiter’s wish to come across an impressive candidate who speaks and understands E...
MeraJob November 25, 2016
How to Have a Great Day at Work
One of the reasons why we dread mornings as much as we do is because of the day at work that lies ahead. We spend several hours a day, every day, five days a week (if not six), at work. And we could count on our fingers those days among the years that have turned out to be great. &nb...