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Over the past decade, we have seen big changes in performance management. The trend continues. Out is the philosophy of “up or out,” take out the bottom 10% of employees annually, and only focus development and rewards on your high…
Read More Big Changes in Performance Management! Are You Keeping Up?
Wharton’s Peter Cappelli and Martin Conyon took a deep dive into performance management data from a large U.S. corporation between 2001 and 2007.[i] They looked at performance scores and associated employment outcomes over these years. They found that several myths…
What’s the worst kept secret in talent management? It’s the fact that annual performance evaluations with ratings are subjective, demotivating, destroy collaboration and innovation, and are time consuming. Ultimately, they do little to motivate, align and improve the performance and…
For a recent article in the Harvard Business Review, the NeuroLeadership Institute published its analysis of what happened when 33 large companies removed their performance ratings.[i] Here are their findings: The frequency of manager-employee conversations increases dramatically. I totally get…
Read More What Happens When Companies Nix Performance Ratings?
It’s a stampeding herd! Companies large and small are significantly changing or eliminating their performance management systems. In one conservative estimate from the Conference Executive Board, approximately six percent of Fortune 500 organizations have replaced traditional performance appraisals. Bersin by…
Read More Be Strategic About Changes to Performance Management!
We are naturally inclined to cheer on a dramatic success and reward the winning outcome - the basketball player who makes the game winning shot at the buzzer, or the salesperson with the highest sales. When a success is big…
Read More Rewarding Success Comes Naturally. Do You Reward Failure in the Pursuit Of Innovation?
GE, Ford, Microsoft, Hewlett Packard and other well-known companies put “up or out” performance management systems in place in the 1980s. These systems rated employees on results and behaviors, and the ratings were used to make decisions about employee potential. …
Read More Traditional Performance Management Doesn’t Work Any More. Try this…
Forced ranking is one of the most contentious practices used in performance management today. It is based on the premise that rigorous evaluation and ranking of employees by their immediate supervisors on agreed-upon abilities, skills and attitudes is not only…
Read More Forced Ranking: The good, the bad, the ugly, and what to do about it!
