Studies show that performance appraisals improve performance 1/3 of the time, reduce it 1/3 of the time, and has no effect the other 1/3 of the time. Clearly we have a problem. This abysmal performance of performance management has caused traditional performance appraisals to be abandoned by a third of U.S. firms.
A vital question is, what’s the point of performance management? Many organizations now realize that conversations need to shift from accountability (which usually means “rank, spank, and yank”) to learning, growing, and developing.
How many of these points describe your experience with performance management:
- “Sawing sawdust” by rehashing the past rather than focusing on the future?
- Reduces self-confidence and self-esteem?
- Reflects the manager’s bias and narrow personal perceptions?
- Focused on more recent events instead of the bigger organizational context and career direction?
- Driven by compensation decisions and justifications?
- Consumes valuable time and energy with little payoff?
- Replaces on-going feedback with a fill-in-the-forms exercise neither side enjoys?
If your performance management system resembles any of these remarks, you should watch Jack Zenger and Joe Folkman in a 45 minute webinar as they talk with Crystal Zuckerman from Celegene and Maria Brennan from General Motors about their work in changing performance management practices.
Jack and Joe also report on their research and analysis of what boosts performance management. Some of what they cover includes:
- Why performance management in some form is here to stay
- How to make the system accurate and fair
- Making performance discussions inspiring and motivating
- Cultural requirements to create thriving performance management practices
- The effective relationship of performance management and compensation
- Meeting the challenge of using multi-rater feedback
- Coaching skills and tools to elevate performance management discussions