There was a push to replace traditional annual performance reviews, and many larger employers like Adobe, Microsoft, IBM, Deloitte, Dell, and General Electric hopped on the bandwagon. But, recent research suggests that doing away with formal ratings might backfire. CEB reported that at organizations where performance-rating systems had been abandoned, employee performance dropped by 10 percent. Engagement went down, too, by 6 percent.
This session will provide:
- Research into the most effective ways to provide feedback to today’s workforce
- Examples of workplaces where the traditional performance ratings scheme has fallen by the wayside, what it was replaced with, and to what extent it’s been successful
- Innovative performance management strategies supervisors and managers can use to make the evaluation process more meaningful
- How to evaluate what should stay and what should go when evaluating your company’s performance management system against your culture and your competition
- Examples of companies that are successfully using social media to ensure a real-time, meaningful feedback loop