The world is moving away from traditional performance reviews, to adopt an entirely new approach to performance management, in the following ways:
The world is veering towards an agile, conversation-based performance appraisal process. This a far cry from the earlier rating-based performance appraisal process. The current review process is more agile. It helps to reorient employees for better performance and results. It is about coaching, appreciation and creating a culture of learning and development. The new approach requires more conversations, and more willingness to contribute and to improve, when necessary. People need to focus more on the output delivery and not on being at their desk and seen to be at work for a specific number of hours, by everyone and especially their boss.
Performance appraisals seem unwarranted in terms of time, efforts, investments, and validity of outcomes. Many companies still have a formal performance management practice that includes yearly reviews. The results of these reviews are linked to compensation or other talent management decisions. However, the real performance appraisals today are not about the performance ratings. It is to ensure that the employees are successful. It is to help them meet their goals. It is also about flexibility in work where people can accomplish their tasks in a remote, delivery-oriented manner, enjoying ample work-life balance to achieve what they need to.
Many companies are replacing the traditional processes with ongoing feedback and coaching as an agile, dynamic and engaging alternative. With this whole new approach to performance management, here’s how you can ensure that your employees are being productive and meeting their goals.
Annual performance appraisals are fast losing traction in the corporate world. Almost no one gets them right. Moreover, they waste everyone’s time and end up demotivating employees and increasing attrition. They hardly help to improve the performance of people too. Do people need them because they help with the compensation decisions? Or is it a fear of the unknown and preference for the known devil? But a little reflection would be enough to realize that the outdated, industrial era performance systems with their contrived bell curves hardly have anything common with today’s complex, remote, work-from-home delivery and performance. What’s more, replacing negative performance appraisals makes sense for another reason too. The willingness to develop and support one’s employees would surely ensure that companies enjoy superior levels of performance from many more employees than ever.
You can read the following blog posts to understand best practices for Performance reviews