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Innovative Performance Management
January 31 @ 2:00 pm - 3:00 pm
January 31, 2023, at 2:00 PM – 3:00 PM ET
Is your current approach to performance management delivering the results you want and need? In most cases, it’s not. We’ll discuss why it’s not working and how a more agile, innovative approach, focusing on continuous performance management, engages your employees and delivers business results.
The traditional annual performance review is somewhat static, using a linear structure with objectives established early in a fixed cycle, followed by a couple of “ritualistic” meetings to review performance, and document the results.
Only 14% of employees strongly agree that the performance reviews they receive inspire them to improve. Studies have shown a traditional approach doesn’t equip or improve performance and that it’s not the best system for determining pay and promotion. If that’s not bad enough, this approach costs organizations a lot of money — as much as $2.4 million to $35 million a year in lost working hours for an organization of 10,000 employees to take part in performance evaluations — with very little to show for it. The evidence is clear. The impact of these review programs has been dismal