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It seems as though there are too many managers out there that seem to believe there are only two ways in which a business can be run, and a team led. They can either be highly engaged with the business that they work for,
Performance appraisals are an opportunity for employers and employees to have a dialogue on past achievements and future development plans.
Using specific performance management tools such as the employee performance plan to include the necessary competencies and behaviors, performance criteria and the expected outcomes, can help avoid bias. Moreover, it leads to employee appraisals that are based on data and reflect on actual accomplishments and progress.
Performance management is undergoing huge overhauls, given that what businesses define as success shifts seemingly every year. A study by Psycnet reported that performance management improves only 28% of staff and is overall a sunk cost.
While some companies spend decades on perfecting their individual performance review and evaluation systems, other companies such as Adobe, GAP or General Electric are eliminating them altogether.
The moment KPIs appear in our organizational life and journey along with performance reviews, targets, performance rewards and other elements, the change done to the current system starts to impact not only the business’s processes, but also its employees.
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