Performance Management 2.0
Lately there have been a number of articles posted about large companies redefining, rethinking and reinventing their performance management processes. Personally speaking, this topic can feel big, unwieldy and convoluted in terms of how the articles describe what they are thinking and what they are doing. It makes me wonder how it relates to someone in a small to medium sized organization who just wants to give their staff feedback and to measure performance.
So, I thought a little interpretation might be helpful!
In a New Yorker article, the focus was on the fact that the reviewers in a performance review system might actually be the problem with the system; in addition to the system itself being flawed. Interesting point! I don’t know about you but this one made me reflect on my own skills as a reviewer.
The Washington Post discusses how Accenture is going to implement more timely feedback (such as at the completion of an assignment) and they are removing any forced ranking. This is a good thing. The article also talks about the employees who do the best in performance reviews and correlates them to being the most narcissistic and self-promoting. Not exactly the type of behaviour we want to encourage in the workplace!
Harvard Business Review identifies pretty clearly that the annual performance review is costing way too much money for very little results and was doing nothing to drive employee engagement. In fact, it might even be disengaging employees. Nothing too surprising to hear there and another great reason to rethink the review process.
In a recent Business.com article, the author spends time talking about the need to shift the performance review from a focus on the past to a focus on the future. This is a practice that we endorse! The past is good for context but the future is where the change is going to happen!
In our March 2015 blog post we talked about the value of 1-1 meetings instead of the annual review. It gives you timely feedback, focuses on the future and moves away from ratings and into a discussion about how to leverage a person’s strengths. Not a bad combination of what all of these articles have been saying. It is time to reinvent performance management!
Your Engaged Assignment: Honestly, ditch your annual review. Sit down and talk with your employees (hint, hint – our blog post gives you the exact questions to ask!), give them regular feedback and start building toward the future!