Dive Brief:
- Companies such as Accenture, Deloitte and GE are eliminating traditional annual performance reviews, using more frequent touch points instead. Now some experts are calling for yearly engagement surveys to receive similar treatment.
- According to an article at HRMorning.com, the change represents a shift in the way we work. Once viewed as a traditional “rite of corporate life,” the annual performance review has now been abandoned by more than 10% of Fortune-500 companies.
- Author Jim Barnett, CEO & co-founder of Glint, a company specializing in employee performance analytics and talent management, believes this is just the beginning of a dramatic change in performance management systems and practices.
Dive Insight:
Barnett writes that the goal of eliminating the annual performance review is to replace an ineffective, often painful process for managers and employees alike with regular check-ins about development. No more high-stakes, once-a-year grades that go on your “permanent record.” Instead, a regular dialogue where feedback and course correction will happen much more frequently.
That being the case, Barnett also writes that there is a corresponding need to eliminate the annual employee engagement survey, and meld performance and engagement surveys into the same process as reviews.
Despite overwhelming evidence that frequent measurement of employee engagement levels makes a difference, 80% of organizations still rely on the annual (or worse, the bi-annual) engagement survey to solicit employee feedback, Barnett adds.
By gathering employee feedback on a quarterly or even monthly basis, organizations can better understand emerging engagement challenges and act to reduce employee turnover "before it’s too late."
