What’s the purpose of a performance review? If you think it’s about documenting a discussion in your HR system, then you’re missing the point. That’s why there’s a lot of buzz about getting rid of the annual performance review.
Not so fast.
We have written about splitting the performance evalation from a discussion about pay raises. We've also floated the idea of turing the annual performance review into ongoing discussions about an employee's performance.
All of these ideas are meant to help tie an individual's performance to the company's performance.
Twitter just turned 8. Facebook, 10. LinkedIn is 11, believe it or not. And if Pinterest were a person, it wouldn’t be old enough to go to kindergarten. Current performance management theory, on the other hand, is well into middle age.
Social media is the cool kid on the block. And a lot of companies have jumped on the social media bandwagon for a number of its processes: customer service, marketing, hiring, even coding. Now, social media is creeping its way into performance management. And that’s not necessarily a bad thing
Pay for performance is a popular mantra in business today. And with good reason; it’s a sound concept to pay top performers more than those who aren’t performing as well.
But while we want to reward top performers, we also want to make sure managers maintain their ability to use discussions like the annual performance review to effectively coach employees and influence their future performance.
360 assessments have become a common tool for helping executives improve self-awareness and clarify development goals. However, our clients are often frustrated when 360 assessments identify development opportunities that are not directly in line with their company’s strategy or values. Too many clients rely on externally developed assessments for their 360 evaluations which makes it hard to connect the dots between the 360 feedback and the goals of the organization. You wouldn’t use someone else’s strategy, so why are you using someone else’s 360 assessment?