Short answer: Plenty! Few things in life produce more moans and groans in the workplace than the mind-numbing, fear-inducing ritual of annual performance reviews. In recent years, there have been calls for companies to free themselves from this burdensome practice. See our video on performance management vs performance appraisal. If you don’t believe that the performance review or performance management (PM) in general is in dire straits, take a look at the following 10 statistics:
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Clearly, something is amiss when it comes to performance management and annual reviews. In fact, given the above statistics, it’s a relatively safe bet to say that performance management in your own company is lacking in some way or not delivering the kind of value you wish it could deliver. Maybe it’s time to give your company’s performance management system its own performance review.
Think about your PM system and give it a rating from 1 to 10 where 1 means your PM system is essentially worthless and 10 means it is giving you absolutely everything you ever dreamed a PM system could give you. If you give your PM system anything less than 8, then it is in need of some serious attention. “Fine,” you say, “My PM system is broken. How do I fix it?” Here are some ideas for where to start:
Getting Back to Basics
According to PM expert Edward Lawler, Director of the Center for Effective Organizations housed at the University of Southern California’s Marshall School of Business, you need to keep in mind the four primary objectives of PM:
The eLeaP People Success Platform ensures that your performance management process is successful and, more importantly, it results in a thriving workplace. Think through your PM system again in greater detail using these four basic PM objectives to help pinpoint areas where your system is clearly falling short. When it comes to effectively addressing organizational problems, getting a clear picture of the situation is more than half the battle. Stay tuned for future posts that will help you determine what steps you can take to fix, overhaul or even completely replace your ailing PM system.
View related articles:
PERFORMANCE MANAGEMENT: NEW DIRECTIONS IN APPRAISAL AND EVALUATION – THE AUTODESK CASE STUDY.
10 STATISTICS ABOUT PERFORMANCE MANAGEMENT THAT WILL BLOW YOUR MIND
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