Traditional performance reviews have moved far off the mark in growing, engaging and retaining talent. The entrenched practice is too focused on a one, maybe two times per year sit down with a laundry list of inconsequential feedback with ratings that put more weight on personality than on results. Creating frequent feedback touchpoints is far more effective for Leader-Managers, and more engaging for employees. It’s time performance reviews got reinvented. The way we work is simply not the same anymore.
For many organizations, we are just a few months away from the dreaded mid-year performance review season. Often perceived as an administrative burden at best, Leader-Managers rarely look forward to these. More disconcerting is that they feel ill-equipped to provide constructive feedback.
The traditional year-end appraisal method, developed decades ago, is clearly not effective anymore.
Accenture’s 2016 survey found only 34% of the 2,100 respondents see current performance management approach supporting business objectives. 89% believed their performance would significantly improve if performance management were changed.