What the Experts REALLY Think About Performance Management
Posted: Wed Jan 22, 2025 8:47 am
Performance reviews have been a long-time subject of debate. With the implementation of new HR technologies like automated microfeedback, people are starting to question whether regular performance reviews are useful at all. Shockingly, only 8% of companies believe their performance review process is highly effective—so why waste the time? We asked three performance review pros what their thoughts on the annual review were. Should they stay, or should they go?
Frequent Feedback Is On The Rise
“People want to know on an ongoing basis, am I doing right? Am I moving in the right direction? Do namibia phone number resource you think I’m progressing? Nobody’s going to wait for an annual cycle to get that feedback.” – Pierre Nanterme, Accenture CEO
So the annual review is on its way out, and no wonder, when 45% of HR leaders don’t think annual reviews are an accurate appraisal of employee’s work. So exit annual performance reviews and enter microfeedback! New automated systems make tracking employee progress a breeze, and have the ability to go out to employees once a month, bi-weekly or even once a week. Take a cue from companies like Deloitte and GE, who are doing once-a-month one-on-ones to keep up with their employees.
If Everyone Hates It, Throw It Out
“Performance management as practiced by most organizations has become a rule-based, bureaucratic process, existing as an end in itself rather than actually shaping performance. Employees hate it. Managers hate it. Even HR departments hate it.” – Laszlo Bock, Former SVP of People Operations, Google
If nobody likes it, it’s not going to be good for the business, that’s the bottom line. Even helpful, constructive feedback is going to lose its value when it’s wrapped up in time-wasting rules and regulations. Unsurprisingly, considering how much everyone hates them, 30% of performance reviews end up actually decreasing employee performance. Too many unhelpful annual reviews and employee engagement is bound to take a hit as well. Switch to frequent feedback to ensure you aren’t part of the 79% of companies that have significant retention and engagement problems.
Frequent Feedback Is On The Rise
“People want to know on an ongoing basis, am I doing right? Am I moving in the right direction? Do namibia phone number resource you think I’m progressing? Nobody’s going to wait for an annual cycle to get that feedback.” – Pierre Nanterme, Accenture CEO
So the annual review is on its way out, and no wonder, when 45% of HR leaders don’t think annual reviews are an accurate appraisal of employee’s work. So exit annual performance reviews and enter microfeedback! New automated systems make tracking employee progress a breeze, and have the ability to go out to employees once a month, bi-weekly or even once a week. Take a cue from companies like Deloitte and GE, who are doing once-a-month one-on-ones to keep up with their employees.
If Everyone Hates It, Throw It Out
“Performance management as practiced by most organizations has become a rule-based, bureaucratic process, existing as an end in itself rather than actually shaping performance. Employees hate it. Managers hate it. Even HR departments hate it.” – Laszlo Bock, Former SVP of People Operations, Google
If nobody likes it, it’s not going to be good for the business, that’s the bottom line. Even helpful, constructive feedback is going to lose its value when it’s wrapped up in time-wasting rules and regulations. Unsurprisingly, considering how much everyone hates them, 30% of performance reviews end up actually decreasing employee performance. Too many unhelpful annual reviews and employee engagement is bound to take a hit as well. Switch to frequent feedback to ensure you aren’t part of the 79% of companies that have significant retention and engagement problems.