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.
HR leaders have always been challenged to manage dual responsibility for operational and strategic HR functions. Meeting the day-to-day needs of the organization in areas such as recruitment, comp and benefits administration and risk management must be integrated with initiatives for improving engagement, productivity and retention. In times of high employement and economic expansion, balancing responsibility for operational and strategic functions takes on elevated importance, as attracting, motivating and retaining talent becomes the critical enabler for growth.
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How well do you know the generations in your workforce?
Each generation brings with it unique traits and characteristics, and the same can be true for what motivates and engages them. Find out what drives this all-star workforce lineup!
- Traditionalists
- Baby Boomers
- Generation X
- Millennials
- Generation Z
