Standard Performance Reviews Actually Hurt Workers Improvement Chances
The dreaded performance review may now have additional reasons for apprehension from workers and managers alike.
According to an article appearing on the HR Dive website, Deloitte issued a report indicating standard performance reviews that focus on past performance rather than how workers can achieve goals and make improvements are failing them.
The report issued by Deloitte, entitled â€śPerformance Management Solutions: Market Primerâ€ť indicated that companies which utilized technology into their workflows showed 5.5 times more ability to develop leadership in workers and 4.3 times higher in terms of change in the agility of their employees.
The key, according to the report emailed to HR Dive, is to focus on worker goal management from multiple sources. According to the data provided by Deloitte, companies which focuses on future worker improvements performed financially 92 times better than organizations still utilizing the standard performance review system.
While technology is probably not the end-all-be-all to every organization or situation in the workplace, technology can help increase productivity goals as well as give workers and potential new-hires more immediate feedback.
This immediate feedback would potentially mean more frequent reviews of workers, both management and the employees themselves. Both managers and workers have found that this gives all parties more timely and effective feedback, which is more efficient and relevant than what a regular annual standard performance review provides.