The Evolution of Performance Reviews

THE EVOLUTION OF PERFORMANCE REVIEWS PERFORMANCE REVIEW TRENDS Annual reviews are being replaced by continuous performance feedback 58% of companies say that the annual performance review system is broken and ineffective. They are replacing it with ongoing feedback to promote continuous performance improvement. 39% 31% are of companies have updated their performance management system in the past 18 months. re-evaluating their current system. EMPLOYEE COACHING Coaching can have a significant impact on employee performance. Adobe reported a 30% reduction in voluntary employee turnover since implementing a continuous coaching system including three-month "check-ins." 38% of performance management systems in a recent study provide links to on-demand coaching information by topic. FEEDBACK FROM MANAGER ONLY (SINGLE SOURCE) TO PEER FEEDBACK (MULTI-SOURCE) Total performance scores may be weighted 25% employee's self-rating 50% supervisor's rating 25% co-workers' ratings GOAL-SETTING Effective goals should be: Specific Measurable Time-bound Aligned with organization's mission statement WAYS TO COLLECT PERFORMANCE REVIEW DATA Use pen/paper and manually have employees fill them out Tedious & frustrating process • Requires photocopies and wasteful storage space Word document templates & Excel to track review process • A hassle to manage and cannot be summarized efficiently for reporting Performance Management Software • Saves time in data collection from multiple source reviewers and locations • Reports and compares results by job title, location, time period, and demographic groups • Centralized corporate-wide platforms are replacing aging standalone systems spread among multiple branches ull http://dupress.com/articles/hc-trends-2014-performance-monagement/ https://www.shrm.org/hrstandards/documents/performanceK20management%20ans%20%282012%29.pdf http://www.foxlawson.com/p-1113 https://www.shrm.org//hrstandards/documents/performance%20manogement%20ons%20%282012%29.pdf http://www.bersin.com/luploadedFiles/031215-performance-management-systems-wwb.pdf ENationalPositions reviewsnap w aa et