Despite the unpopularity of performance management, multiple surveys confirm that almost no companies actually have abandoned it. For good reason: companies need performance management to allocate-performance-based pay increases, bonuses, promotions, and development opportunities among individuals.
Most of the practices advocated by those who wish to “abandon” performance management actually are best practices, not new ideas. For example, providing employees with frequent performance feedback, goal setting, and the use of input from peers and others in assessing performance have been around for decades.
Technology is a game-changer, however. Technology makes it possible to implement best practices far more quickly and successfully. It also makes possible the use of practices that were impractical in the paper era, and makes it possible to manage the entire process much more effectively. Join this webcast to learn:
Why performance management is necessary – and advocates of “abandoning” it really are advocating familiar best practices
How technology makes many best practices more practical, easier, and more effective, including frequent feedback, cascaded goals, assessment of goal attainment, simplified rating scales, 360 appraisal, and ratings calibration.
How technology makes it possible to implement new practices such as crowd-sourced feedback, tight linkage of rewards to the market, and expert recommendations on employee development
What dysfunctional practices technology can foster and how to avoid them, including ratings over-engineering, mechanical processes, and avoidance of face-to-face feedback