Reinventing Employee Performance Reviews
The age-old practice of yearly Performance Reviews should be given a way out or should be replaced. All we need is a system to both assess the performance of the employees/teams and to create a roadmap for their growth and engagement. So, the organizations or HR must revisit the current performance review system and find out the model that provides a solution to the traditional review process.
Most companies conducted the surveys/polls with their employees and found out that 60% of employees felt that their performance management system was not driving the performance and/or employee engagement as they expected. Also, the time spent on performance review processes like setting the goal at the start of every year, evaluating, conducting a one-on-one meeting, and providing rating consumed a lot of time and most of that is the outcome of the process instead of performance.
The needs for replacing the old review method are evolving so quickly such that we wanted a new system which will assess employee goals more frequently say, quarterly, monthly, or weekly, and will give more consistent and accurate ratings by all the reviewers without any bias, schedule real-time discussions, and get everyone to focus on future review plan.
After doing many case studies analyses, the organization finds that using one’s own strength every day is more vital rather than team score and company mission. To do this, they need to collect more data on individual employee performance. Hence, the new system should evaluate individual employee performance more accurately and reward them instantly. Thus, this idea may give a belief to solve the purpose of the performance management system efficiently.
To support the above purpose of collecting individual employee performance data, the new system should focus on setting goals frequently, giving immediate feedback about performance, and constant learning. This new approach will overcome the bigger problems of the traditional performance rating systems.
In a nutshell, soon, the Performance Management System will optimize the role of the individual employees and make them do their jobs better. This optimization enables HR to focus on skills, strength, and mindset of the employees paving the way for creating an amazing opportunity for employees’ performance and engagement that will be the key to an organization’s success.
