Yearly performance reviews are failing to help employees grow, despite the time and effort invested in these reviews. Use of the system called Continuous Performance Management will align the company’s goals with the employee’s performance and give continuous feedback that may help to reward and keep successful employees. This system notes that motivated workers focus on the goal. Managers need to take a role in the success of others and care about professional development. If a manager shows the employee how their work contributes to the overall picture and recognizes the employee’s work, the company will be more successful.
Reflect on these key points:
- 1A well-developed and functioning Continuous Performance Management process should have up-to-the-minute, robust technology backing it.
- 2For many companies, the notion of a performance management process begins and ends with the stale, antiquated yearly review.
- 3Under this antiquated regime, most employees receive limited feedback, of which less than 25% find such feedback useful.
“When your employees don’t have a clear idea of what’s important or how to improve their skills, companies struggle to meet targets.”