For the past decade, many in the HR industry have been calling for radical changes to the performance management process and an end to the annual performance review. While many companies have moved to more frequent programs for individual goal setting and performance feedback, reports of the death of the annual performance review (to steal a quip from Twain) “have been greatly exaggerated.”
People want to know where they stand.
When Facebook reevaluated its performance management systems several years ago, according to a November 2016 article in Harvard Business Review, they conducted focused groups and a follow-up survey with 300 people that revealed 87% wanted to keep a more formal process.
In the complex anatomy of your organization, your workforce is the heartbeat. A strong, healthy heart pumps blood throughout the body, usually at a steady rate, but can work much faster when necessary. Similarly, a robust workforce propels productivity throughout the organization, supplying oxygen in the form of discretionary effort and removing toxins such as complacency. Your workforce can exceed expectations when it is in good health and receiving the attention and motivation it needs to flourish.
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How common are performance recognition programs today and what effects do they have on the employees they’re designed to influence? To answer these questions, Trendicators™–the research division of Engage2Excel–recently conducted a survey of 1,500 U.S. employees representing all major industries and demographic categories.
Statistically Valid Research: The results of this original research study, which have a margin of error of plus or minus 1.5% at a 95% level of confidence, are presented in Engage2Excel’s latest survey research report, What Do Employees Say About Performance Recognition?
The employee experience is on the minds of many HR professionals. As more organizations are looking to enhance the experience, sometimes improving existing practices, like employee recognition can have great value.
When it comes to recognition, we know employees want it. In fact, lack of it is the number one reason employees would leave their current job. While the finite numbers and needs vary from generation to generation, it goes without saying: employee recognition is critical.
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