MANAGING in the

NEW WORLD

There is a lot of talk regarding the failure of annual performance reviews and thus several companies are getting rid of them. The Bell Curve to measure employees’ performance has been dropped by a few companies in India while many startups never adopted them in the first place anyway. Yet the comprehensive move away from them is a figment of fiction, as the McLagan Study for 2015 proves. Majority of firms are grappling with best means of talent management, yet completely doing away with performance reviews may not be the solution unless those hours saved by avoiding them, are used by the managers in providing coaching sessions. Instead the process must be rectified. For this the purpose of performance reviews must be set clear, avoiding all ambiguities. The entire talent philosophy and performance evaluation metrics must be aligned towards annual goals. Such measurements must be simple for all to comprehend rather than complex. The process must be transparent and be able to assess the top performers from those who aren’t delivering. Performance reviews must be integrated with broader corporate training plans. Also technology must be used as an enabler, not to burden the existing staff with additional tasks.

Source:http://www.forbesindia.com/blog/business-strategy/fixing-performance-management/

 

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