Date post: | 21-Jan-2018 |
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Recruiting & HR |
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Why are companies moving away from performance management?
Source: https://abhishekmittal.com/2016/02/20/performance-appraisals-not-dead/ | Image: Youtube - https://i.ytimg.com/vi/XqfwYkpOLg4/maxresdefault.jpg
… it’s awkward
Limited meaningful differentiation of high performers
REASON NO.4
Source: https://www.towerswatson.com/en-US/Insights/Newsletters/Americas/insider/2015/08/play-for-a-champion-income-inequality-and-organizational-performance
Published: 25 August 2015
Over-reliance on ratings, leading to missed opportunities
for feedback and developmental inputs
REASON NO.5
Insufficient integration with other talent and rewards
programs and processes
REASON NO.7
Performance
Learning &
Development
Rewards
HRIS?
Succession?
Recruitment?
How do we upgrade performance management?
Closed door discussions
Annual paperwork
Forced-ranking
Compensation-focused
Historical performance
Collaborative/ transparent 1:1s
Regular structured coaching
Target vs. hyper achiever
Development-focused
All-round actionable insights
CASE STUDY NO.1
BEFORE
• Annual review at the end of
the fiscal year
• 2 mil hours a year to do
performance review
• Focused on rating instead of
performance
• Ratings are subjective
NOW
• Review tied to project cycles
• Quarterly 10 question progress
survey send to employee’s phone
• Quarterly 10 min / 4 questions
performance snapshot for
managers to complete
• Focused on what would they do
with the individual instead of what
they think of that individual
Source: https://hbr.org/2015/04/reinventing-performance-management
CASE STUDY NO.2
BEFORE
• Invented the “rank and yank”
system based on bell-curved
performance distribution
• Formal once-a-year review
on past performance
• Compensation tied to
ranking
• “Promoted” self-promoting
behaviours
NOW
• PD@GE mobile app
• Regular informal “touchpoints” to
set/ update priorities
• Forward looking and on-going
coaching
• Suggestions can come from
anyone in an employee’s network
• “Shadow ratings” problem
Source: http://qz.com/428813/ge-performance-review-strategy-shift/
What about 9-box grid and succession planning?
Wait, but how do we
distribute pay and bonus?
Is this fair?
Asian companies are hesitant to make major changes…
Source: https://www.willistowerswatson.com/en/insights/2016/02/Is-Performance-Management-Working (Nov 2015) - 365 APAC companies of which 26 are from Hong Kong
… but they are embracing some elements of the new trend
Source: https://www.willistowerswatson.com/en/insights/2016/02/Is-Performance-Management-Working (Nov 2015) - 365 APAC companies of which 26 are from Hong Kong
“Continuous Performance
Management facilitate ongoing
1:1 check-ins between
employees and managers to
help ensure activities and
goals stay on track throughout
the year by making it easy to
provide and capture feedback
and coaching"
"You can think of Impraise as a
fitness tracker for your
professional life. The same
way you can track your
morning runs and your
progress in the last few weeks,
you can use Impraise at work
to track your professional
development."
"Reflektive is an agile talent
development suite integrated
into your employee's daily
workflows to drive maximum
productivity and engagement."
"Small Improvements is a tool
that allows you to deploy a
custom feedback process for
your organization. Give
managers a place to capture
1:1 notes, mentor reports on
objectives, or enable
coworkers to congratulate on a
job well done."
Performance review
360 degree feedback
Real-time feedback
Skills coaching
Development tracking
Team overviews
Mobile available
Performance review
360 degree feedback
Goal alignment
Real-time feedback
Activities tracking
1:1 reminders / records
Mobile available
Performance review
360 degree feedback
Goal alignment
Real-time feedback
Morale polls
Performance review
360 degree feedback
Real-time feedback
Public/ private objectives
1:1 records
Praise people
Mobile available
Is performance management outdated?
Source: https://www.google.com/trends - Global 10-year trend (Apr 2006 to Apr 2016)
Thank you and let us know what you think!
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