Companies today are increasingly aware that the traditional paradigm of the annual performance review process is broken. Only 12% of respondents to a Deloitte survey indicated that the performance process was highly effective in driving business value, and only 6% of organizations believe their current process for managing performance is worth the time. A Forrester team also concluded that “the typical annual or semi-annual cadence of performance reviews is not frequent enough to meet the changing page of business.”
More organizations are realizing the difficulties in reconciling a traditional performance management process with the need for frequent, real-time feedback. Employees desire a flexible and more dynamic approach to the way work gets done and HR ...Read more
In the last decade, new organizational models with greater geographical distribution, more matrixed structures, and increased diversity, as well as accelerated technology innovation, have made the way we work more interconnected than ever. “Sixty-seven percent of employees report an increase in work requiring active collaboration,”4 according to CEB. In the same study, general managers and senior executives reported needing a 20 percent improvement in employee performance.